River Wealth Advisors LLC lowered its position in shares of TE Connectivity Ltd. (NYSE:TEL – Free Report) by 1.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 34,142 shares of the electronics maker’s stock after selling 496 shares during the period. River Wealth Advisors LLC’s holdings in TE Connectivity were worth $4,785,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tucker Asset Management LLC purchased a new position in TE Connectivity during the first quarter valued at $25,000. Cullen Frost Bankers Inc. purchased a new position in shares of TE Connectivity in the 1st quarter worth about $27,000. Centerpoint Advisors LLC purchased a new position in shares of TE Connectivity in the 1st quarter worth about $33,000. Graham Capital Wealth Management LLC purchased a new position in shares of TE Connectivity in the 1st quarter worth about $352,794,000. Finally, Blume Capital Management Inc. purchased a new position in shares of TE Connectivity in the 1st quarter worth about $36,000. Hedge funds and other institutional investors own 90.75% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have weighed in on TEL. Truist Financial decreased their target price on TE Connectivity from $147.00 to $135.00 and set a “hold” rating for the company in a research report on Friday, November 3rd. StockNews.com began coverage on TE Connectivity in a research report on Thursday, October 5th. They issued a “buy” rating for the company. TD Cowen raised TE Connectivity from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $115.00 to $140.00 in a research report on Friday, October 6th. Finally, Robert W. Baird boosted their target price on TE Connectivity from $149.00 to $153.00 in a research report on Thursday, July 27th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, TE Connectivity presently has an average rating of “Hold” and a consensus target price of $143.63.
TE Connectivity Stock Up 2.1 %
Shares of TEL opened at $126.65 on Friday. The stock has a market capitalization of $39.76 billion, a price-to-earnings ratio of 21.04, a price-to-earnings-growth ratio of 2.43 and a beta of 1.33. TE Connectivity Ltd. has a 1 year low of $111.94 and a 1 year high of $146.60. The business’s 50 day simple moving average is $123.72 and its 200-day simple moving average is $128.87. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.77 and a quick ratio of 1.20.
TE Connectivity (NYSE:TEL – Get Free Report) last released its quarterly earnings results on Wednesday, November 1st. The electronics maker reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.02. The company had revenue of $4 billion for the quarter, compared to analyst estimates of $4.01 billion. TE Connectivity had a return on equity of 18.88% and a net margin of 11.91%. TE Connectivity’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.88 EPS. As a group, equities analysts expect that TE Connectivity Ltd. will post 7.39 earnings per share for the current fiscal year.
TE Connectivity Company 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.
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