Venture Visionary Partners LLC Decreases Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Venture Visionary Partners LLC lowered its stake in TE Connectivity Ltd. (NYSE:TEL) by 9.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,724 shares of the electronics maker’s stock after selling 183 shares during the quarter. Venture Visionary Partners LLC’s holdings in TE Connectivity were worth $260,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in TEL. Price T Rowe Associates Inc. MD raised its position in shares of TE Connectivity by 54.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker’s stock valued at $2,265,218,000 after buying an additional 5,526,230 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of TE Connectivity by 26.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock valued at $944,791,000 after buying an additional 1,304,199 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of TE Connectivity by 238.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 719,354 shares of the electronics maker’s stock valued at $108,212,000 after buying an additional 506,754 shares in the last quarter. Bank of Montreal Can raised its position in shares of TE Connectivity by 43.0% during the 2nd quarter. Bank of Montreal Can now owns 1,155,426 shares of the electronics maker’s stock valued at $174,955,000 after buying an additional 347,315 shares in the last quarter. Finally, Toronto Dominion Bank raised its position in shares of TE Connectivity by 141.3% during the 2nd quarter. Toronto Dominion Bank now owns 468,294 shares of the electronics maker’s stock valued at $70,445,000 after buying an additional 274,206 shares in the last quarter. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

TE Connectivity Trading Down 0.9 %

NYSE:TEL opened at $145.47 on Thursday. TE Connectivity Ltd. has a 52 week low of $115.00 and a 52 week high of $159.98. The firm has a 50 day moving average of $148.07 and a 200 day moving average of $148.23. The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $44.21 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 1.92 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.05. TE Connectivity had a net margin of 21.94% and a return on equity of 18.53%. The company had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter in the prior year, the company posted $1.77 earnings per share. TE Connectivity’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, sell-side analysts anticipate that TE Connectivity Ltd. will post 7.56 earnings per share for the current fiscal year.

Insider Activity at TE Connectivity

In related news, CFO Heath A. Mitts sold 59,700 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $154.70, for a total transaction of $9,235,590.00. Following the completion of the sale, the chief financial officer now owns 38,073 shares of the company’s stock, valued at $5,889,893.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other TE Connectivity news, SVP Robert J. Ott sold 2,913 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total value of $450,320.67. Following the completion of the transaction, the senior vice president now owns 25,504 shares of the company’s stock, valued at approximately $3,942,663.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Heath A. Mitts sold 59,700 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $154.70, for a total transaction of $9,235,590.00. Following the completion of the transaction, the chief financial officer now directly owns 38,073 shares of the company’s stock, valued at approximately $5,889,893.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on TEL. StockNews.com began coverage on shares of TE Connectivity in a research report on Wednesday. They set a “buy” rating on the stock. Bank of America reduced their price objective on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Vertical Research began coverage on shares of TE Connectivity in a research report on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 price objective on the stock. Truist Financial increased their price objective on shares of TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Finally, The Goldman Sachs Group reduced their price objective on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, TE Connectivity currently has a consensus rating of “Hold” and a consensus price target of $161.82.

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.