TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 64.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 321,400 shares of the electronics maker’s stock after selling 571,000 shares during the period. Renaissance Technologies LLC owned about 0.11% of TE Connectivity worth $48,348,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Simplicity Wealth LLC grew its stake in TE Connectivity by 2.7% in the second quarter. Simplicity Wealth LLC now owns 2,509 shares of the electronics maker’s stock worth $377,000 after purchasing an additional 67 shares in the last quarter. Silvercrest Asset Management Group LLC increased its holdings in shares of TE Connectivity by 2.3% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 2,977 shares of the electronics maker’s stock valued at $432,000 after acquiring an additional 68 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its position in shares of TE Connectivity by 3.9% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,835 shares of the electronics maker’s stock valued at $267,000 after acquiring an additional 69 shares in the last quarter. Manchester Capital Management LLC raised its position in shares of TE Connectivity by 5.4% during the 1st quarter. Manchester Capital Management LLC now owns 1,427 shares of the electronics maker’s stock valued at $207,000 after acquiring an additional 73 shares in the last quarter. Finally, Miracle Mile Advisors LLC lifted its stake in TE Connectivity by 0.6% during the first quarter. Miracle Mile Advisors LLC now owns 13,326 shares of the electronics maker’s stock worth $1,935,000 after purchasing an additional 75 shares during the last quarter. Institutional investors own 91.43% of the company’s stock.

Analyst Ratings Changes

TEL has been the subject of several recent research reports. Vertical Research initiated coverage on shares of TE Connectivity in a research note on Tuesday, July 23rd. They set a “hold” rating and a $155.00 target price for the company. Bank of America increased their price objective on shares of TE Connectivity from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. Hsbc Global Res upgraded TE Connectivity to a “hold” rating in a research report on Wednesday, July 24th. Finally, Robert W. Baird raised their price target on TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Eight research analysts have rated the stock with a hold rating and seven 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 $158.45.

Insider Buying and Selling at TE Connectivity

In other news, insider Aaron Kyle Stucki sold 8,750 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $155.00, for a total value of $1,356,250.00. Following the completion of the sale, the insider now owns 20,556 shares in the company, valued at $3,186,180. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other TE Connectivity news, insider Aaron Kyle Stucki sold 8,750 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $155.00, for a total value of $1,356,250.00. Following the sale, the insider now directly owns 20,556 shares in the company, valued at $3,186,180. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Heath A. Mitts sold 59,700 shares of the company’s stock in a transaction dated 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 directly owns 38,073 shares of the company’s stock, valued at $5,889,893.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,363 shares of company stock valued at $11,042,161. 0.86% of the stock is owned by corporate insiders.

TE Connectivity Stock Performance

TEL stock opened at $147.78 on Wednesday. The company has a 50-day simple moving average of $150.00 and a 200 day simple moving average of $147.36. The company has a market capitalization of $45.25 billion, a P/E ratio of 13.52, a PEG ratio of 1.96 and a beta of 1.33. The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.23. TE Connectivity Ltd. has a fifty-two week low of $115.00 and a fifty-two week high of $159.98.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share for the quarter, topping 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 analyst estimates of $4.01 billion. During the same period in the prior year, the business posted $1.77 EPS. The business’s revenue for the quarter was up .1% compared to the same quarter last year. Sell-side analysts predict that TE Connectivity Ltd. will post 7.57 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.