First Pacific Advisors LP Reduces Holdings in TE Connectivity Ltd. (NYSE:TEL)

First Pacific Advisors LP lowered its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 2.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,662,439 shares of the electronics maker’s stock after selling 75,567 shares during the period. TE Connectivity makes up 5.4% of First Pacific Advisors LP’s investment portfolio, making the stock its 6th biggest holding. First Pacific Advisors LP owned about 0.89% of TE Connectivity worth $380,649,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC boosted its stake in TE Connectivity by 20.9% during the third quarter. Farther Finance Advisors LLC now owns 1,611 shares of the electronics maker’s stock worth $243,000 after buying an additional 278 shares in the last quarter. Concurrent Investment Advisors LLC lifted its holdings in shares of TE Connectivity by 6.4% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 1,956 shares of the electronics maker’s stock worth $295,000 after acquiring an additional 117 shares during the period. Verdence Capital Advisors LLC acquired a new stake in shares of TE Connectivity during the 3rd quarter valued at about $213,000. Assetmark Inc. increased its stake in TE Connectivity by 11.9% in the third quarter. Assetmark Inc. now owns 2,266 shares of the electronics maker’s stock valued at $342,000 after acquiring an additional 241 shares during the period. Finally, Lindbrook Capital LLC raised its position in TE Connectivity by 160.6% in the third quarter. Lindbrook Capital LLC now owns 1,665 shares of the electronics maker’s stock worth $251,000 after purchasing an additional 1,026 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Price Performance

Shares of TEL stock opened at $150.90 on Monday. TE Connectivity Ltd. has a 1 year low of $137.61 and a 1 year high of $159.98. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The firm’s 50 day moving average is $148.30 and its 200-day moving average is $148.74. The firm has a market capitalization of $45.02 billion, a price-to-earnings ratio of 24.10, a PEG ratio of 2.11 and a beta of 1.32.

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 the consensus estimate of $1.89 by $0.06. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.84 EPS. Sell-side analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TEL has been the topic of a number of recent research reports. StockNews.com lowered TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. HSBC raised TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective for the company in a report on Thursday, January 23rd. Wells Fargo & Company upped their target price on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. Finally, Robert W. Baird lifted their price target on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $167.00.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the transaction, the insider now directly owns 25,976 shares in the company, valued at approximately $3,812,497.52. This represents a 49.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.90% of the stock is owned by company insiders.

TE Connectivity Profile

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.