JPMorgan Chase & Co. Trims Stake in TE Connectivity Ltd. (NYSE:TEL)

JPMorgan Chase & Co. reduced its stake in shares of TE Connectivity Ltd. (NYSE:TELGet Rating) by 23.5% in the 2nd quarter, Holdings Channel reports. The fund owned 743,610 shares of the electronics maker’s stock after selling 228,560 shares during the period. JPMorgan Chase & Co.’s holdings in TE Connectivity were worth $84,140,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of TEL. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in TE Connectivity by 135.6% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 238 shares of the electronics maker’s stock valued at $27,000 after purchasing an additional 137 shares during the period. Tcwp LLC acquired a new stake in TE Connectivity in the first quarter valued at approximately $30,000. Selective Wealth Management Inc. grew its holdings in TE Connectivity by 2,580.0% in the second quarter. Selective Wealth Management Inc. now owns 268 shares of the electronics maker’s stock valued at $30,000 after purchasing an additional 258 shares during the period. Glassman Wealth Services grew its holdings in TE Connectivity by 67.7% in the second quarter. Glassman Wealth Services now owns 270 shares of the electronics maker’s stock valued at $31,000 after purchasing an additional 109 shares during the period. Finally, Lindbrook Capital LLC grew its holdings in TE Connectivity by 49.2% in the second quarter. Lindbrook Capital LLC now owns 385 shares of the electronics maker’s stock valued at $44,000 after purchasing an additional 127 shares during the period. 90.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at TE Connectivity

In related news, EVP John S. Jenkins sold 2,674 shares of the business’s stock in a transaction on Friday, November 18th. The stock was sold at an average price of $125.85, for a total value of $336,522.90. Following the sale, the executive vice president now owns 16,782 shares in the company, valued at approximately $2,112,014.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP John S. Jenkins sold 2,674 shares of the business’s stock in a transaction on Friday, November 18th. The stock was sold at an average price of $125.85, for a total value of $336,522.90. Following the sale, the executive vice president now owns 16,782 shares in the company, valued at approximately $2,112,014.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Terrence R. Curtin sold 3,000 shares of the business’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $131.85, for a total value of $395,550.00. Following the completion of the sale, the director now owns 54,969 shares in the company, valued at approximately $7,247,662.65. The disclosure for this sale can be found here. Insiders have sold 47,824 shares of company stock worth $6,053,510 over the last quarter. 0.73% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TEL has been the topic of several research analyst reports. Jefferies Financial Group raised their price objective on TE Connectivity from $140.00 to $154.00 in a report on Tuesday. Bank of America lowered their price target on TE Connectivity from $146.00 to $140.00 in a research note on Wednesday, November 2nd. StockNews.com lowered TE Connectivity from a “buy” rating to a “hold” rating in a research note on Thursday, November 17th. Royal Bank of Canada lowered their price target on TE Connectivity from $147.00 to $138.00 and set an “outperform” rating on the stock in a research note on Thursday, November 3rd. Finally, JPMorgan Chase & Co. lowered their price target on TE Connectivity from $145.00 to $135.00 and set a “neutral” rating on the stock in a research note on Thursday, November 3rd. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $138.56.

TE Connectivity Stock Performance

NYSE TEL opened at $127.26 on Thursday. The stock’s fifty day moving average is $117.70 and its two-hundred day moving average is $122.08. The firm has a market capitalization of $40.37 billion, a P/E ratio of 17.04, a price-to-earnings-growth ratio of 2.58 and a beta of 1.31. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.99 and a current ratio of 1.57. TE Connectivity Ltd. has a fifty-two week low of $104.76 and a fifty-two week high of $165.81.

TE Connectivity (NYSE:TELGet Rating) last posted its earnings results on Wednesday, November 2nd. The electronics maker reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.01. TE Connectivity had a return on equity of 22.31% and a net margin of 14.91%. The company had revenue of $4.36 billion for the quarter, compared to the consensus estimate of $4.22 billion. On average, research analysts anticipate that TE Connectivity Ltd. will post 6.82 earnings per share for the current year.

TE Connectivity Profile

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

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Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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