TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Lifeworks Advisors LLC

Lifeworks Advisors LLC cut its holdings in TE Connectivity Ltd. (NYSE:TEL) by 74.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,036 shares of the electronics maker’s stock after selling 11,996 shares during the period. Lifeworks Advisors LLC’s holdings in TE Connectivity were worth $577,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in TEL. Nordea Investment Management AB purchased a new stake in shares of TE Connectivity in the fourth quarter valued at about $149,211,000. Sumitomo Mitsui Trust Group Inc. raised its position in shares of TE Connectivity by 2,330.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 753,572 shares of the electronics maker’s stock worth $107,738,000 after purchasing an additional 722,565 shares during the last quarter. Franklin Resources Inc. lifted its stake in TE Connectivity by 31.1% in the 3rd quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock valued at $445,603,000 after buying an additional 712,228 shares in the last quarter. EdgePoint Investment Group Inc. grew its holdings in TE Connectivity by 26.0% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock valued at $508,481,000 after buying an additional 694,917 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in TE Connectivity by 15.0% during the fourth quarter. Bank of New York Mellon Corp now owns 3,749,622 shares of the electronics maker’s stock worth $536,083,000 after buying an additional 488,680 shares in the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the completion of the sale, the insider now directly owns 25,976 shares in the company, valued at approximately $3,812,497.52. This represents a 49.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.90% of the stock is owned by insiders.

TE Connectivity Price Performance

Shares of TE Connectivity stock opened at $150.90 on Friday. The business’s fifty day moving average price is $148.30 and its 200 day moving average price is $148.77. TE Connectivity Ltd. has a twelve month low of $137.61 and a twelve month high of $159.98. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $45.02 billion, a P/E ratio of 24.10, a PEG ratio of 2.11 and a beta of 1.32.

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

Analyst Ratings Changes

Several analysts have recently issued reports on TEL shares. HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective on the stock in a research report on Thursday, January 23rd. Bank of America raised their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Robert W. Baird boosted their price objective on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Truist Financial reduced their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Finally, Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, TE Connectivity has a consensus rating of “Hold” and an average price target of $167.00.

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.