Oppenheimer Asset Management Inc. Trims Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Oppenheimer Asset Management Inc. reduced its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 4.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 66,021 shares of the electronics maker’s stock after selling 3,328 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in TE Connectivity were worth $9,439,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Pinnacle Bancorp Inc. purchased a new stake in shares of TE Connectivity in the 4th quarter worth about $26,000. Golden State Wealth Management LLC purchased a new stake in shares of TE Connectivity in the 4th quarter worth about $44,000. Hilltop National Bank purchased a new stake in shares of TE Connectivity in the 4th quarter worth about $55,000. Deseret Mutual Benefit Administrators purchased a new stake in shares of TE Connectivity in the 4th quarter worth about $57,000. Finally, Webster Bank N. A. purchased a new stake in shares of TE Connectivity in the 4th quarter worth about $61,000. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Price Performance

TEL opened at $151.89 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The stock has a market capitalization of $45.32 billion, a P/E ratio of 24.26, a P/E/G ratio of 2.11 and a beta of 1.32. The company’s 50-day simple moving average is $147.66 and its two-hundred day simple moving average is $148.66. TE Connectivity Ltd. has a 52-week low of $137.61 and a 52-week high of $159.98.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm’s revenue was up .1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.84 earnings per share. As a group, analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current year.

Insider Buying and Selling

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $151.13, for a total value of $587,744.57. Following the transaction, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,925,752.88. This trade represents a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

TEL has been the topic of a number of recent research reports. Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Robert W. Baird upped their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Bank of America increased their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Truist Financial cut their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Finally, HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective on the stock in a research report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $167.00.

About TE Connectivity

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.