First Citizens Bank & Trust Co. Sells 4,959 Shares of TE Connectivity Ltd. (NYSE:TEL)


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First Citizens Bank & Trust Co. lessened its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 31.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 10,834 shares of the electronics maker’s stock after selling 4,959 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in TE Connectivity were worth $1,311,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Advisors Asset Management Inc. grew its stake in TE Connectivity by 22.7% during the third quarter. Advisors Asset Management Inc. now owns 11,133 shares of the electronics maker’s stock valued at $1,088,000 after acquiring an additional 2,060 shares in the last quarter. Captrust Financial Advisors grew its position in shares of TE Connectivity by 9.4% during the 3rd quarter. Captrust Financial Advisors now owns 5,707 shares of the electronics maker’s stock valued at $562,000 after purchasing an additional 490 shares in the last quarter. Bank of Nova Scotia Trust Co. increased its holdings in shares of TE Connectivity by 1.5% in the third quarter. Bank of Nova Scotia Trust Co. now owns 65,439 shares of the electronics maker’s stock worth $6,396,000 after purchasing an additional 936 shares during the period. California State Teachers Retirement System raised its position in shares of TE Connectivity by 1.2% in the second quarter. California State Teachers Retirement System now owns 146,405 shares of the electronics maker’s stock worth $11,939,000 after buying an additional 1,733 shares in the last quarter. Finally, Polar Capital LLP raised its position in shares of TE Connectivity by 39.6% in the third quarter. Polar Capital LLP now owns 161,711 shares of the electronics maker’s stock worth $15,806,000 after buying an additional 45,869 shares in the last quarter. Hedge funds and other institutional investors own 90.30% of the company’s stock.

NYSE TEL opened at $129.91 on Thursday. TE Connectivity Ltd. has a 1-year low of $48.62 and a 1-year high of $131.75. The company has a current ratio of 1.43, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37. The stock has a 50-day moving average of $120.00 and a 200-day moving average of $102.42. The firm has a market cap of $42.97 billion, a PE ratio of -419.06, a price-to-earnings-growth ratio of 2.07 and a beta of 1.36.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, October 28th. The electronics maker reported $1.16 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.30. The business had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $2.90 billion. TE Connectivity had a positive return on equity of 15.06% and a negative net margin of 0.81%. The business’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.33 EPS. As a group, equities research analysts forecast that TE Connectivity Ltd. will post 3.96 earnings per share for the current fiscal year.

A number of brokerages have weighed in on TEL. Jefferies Financial Group upped their target price on TE Connectivity from $107.00 to $126.00 and gave the stock a “buy” rating in a research note on Thursday, October 15th. BidaskClub upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating in a research report on Tuesday, January 5th. Morgan Stanley lifted their target price on shares of TE Connectivity from $101.00 to $121.00 and gave the company an “equal weight” rating in a research report on Monday, December 14th. Robert W. Baird reissued an “outperform” rating and issued a $118.00 price target on shares of TE Connectivity in a report on Monday, October 19th. Finally, Oppenheimer lifted their price objective on shares of TE Connectivity from $98.00 to $114.00 and gave the stock an “outperform” rating in a report on Thursday, September 17th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $107.14.

In related news, insider Aaron Kyle Stucki sold 13,150 shares of the business’s stock in a transaction dated Wednesday, January 6th. The stock was sold at an average price of $125.00, for a total transaction of $1,643,750.00. Following the transaction, the insider now owns 24,940 shares in the company, valued at approximately $3,117,500. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Terrence R. Curtin sold 90,350 shares of the company’s stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $108.64, for a total value of $9,815,624.00. Insiders have sold a total of 199,988 shares of company stock valued at $22,411,150 over the last quarter. 0.80% of the stock is currently owned by company 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 AsiaƂ-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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