New York Life Investment Management LLC Trims Stake in TE Connectivity Ltd. (NYSE:TEL)

New York Life Investment Management LLC trimmed its stake in TE Connectivity Ltd. (NYSE:TEL) by 1.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,514 shares of the electronics maker’s stock after selling 494 shares during the period. New York Life Investment Management LLC’s holdings in TE Connectivity were worth $6,364,000 at the end of the most recent reporting period.

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

TE Connectivity Stock Up 1.5 %

Shares of NYSE:TEL opened at $154.10 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a 12 month low of $137.61 and a 12 month high of $159.98. The company has a 50-day moving average price of $147.87 and a 200 day moving average price of $148.72. The company has a market cap of $45.97 billion, a price-to-earnings ratio of 24.62, a PEG ratio of 2.11 and a beta of 1.32.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. StockNews.com lowered TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Friday. Robert W. Baird increased their price target on TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Wells Fargo & Company increased their price target on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 23rd. Citigroup increased their price target on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Finally, Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $167.00.

Insider Activity at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $151.13, for a total value of $587,744.57. Following the completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.90% of the stock is owned by insiders.

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.