TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Fidelis Capital Partners LLC

Fidelis Capital Partners LLC cut its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 13.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,648 shares of the electronics maker’s stock after selling 543 shares during the period. Fidelis Capital Partners LLC’s holdings in TE Connectivity were worth $531,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Simplicity Wealth LLC raised its holdings in shares of TE Connectivity by 2.7% during the second quarter. Simplicity Wealth LLC now owns 2,509 shares of the electronics maker’s stock valued at $377,000 after buying an additional 67 shares during the last quarter. Silvercrest Asset Management Group LLC raised its holdings in shares of TE Connectivity by 2.3% during the first quarter. Silvercrest Asset Management Group LLC now owns 2,977 shares of the electronics maker’s stock valued at $432,000 after buying an additional 68 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its holdings in shares of TE Connectivity by 3.9% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,835 shares of the electronics maker’s stock valued at $267,000 after buying an additional 69 shares during the last quarter. Manchester Capital Management LLC increased its stake in shares of TE Connectivity by 5.4% during the first 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 during the period. Finally, Gradient Investments LLC increased its stake in shares of TE Connectivity by 2.2% during the second quarter. Gradient Investments LLC now owns 3,602 shares of the electronics maker’s stock valued at $542,000 after acquiring an additional 76 shares during the period. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TEL. Truist Financial raised their price objective on shares of TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Wolfe Research upgraded shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. Vertical Research initiated coverage on shares of TE Connectivity in a research report on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 price target on the stock. Wells Fargo & Company decreased their price target on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a research report on Friday, September 20th. Finally, HSBC lowered shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price target on the stock. in a research report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $161.82.

TE Connectivity Trading Down 0.5 %

Shares of NYSE:TEL opened at $151.83 on Thursday. The firm has a fifty day moving average of $148.06 and a two-hundred day moving average of $148.40. The firm has a market capitalization of $46.49 billion, a P/E ratio of 13.89, a price-to-earnings-growth ratio of 1.92 and a beta of 1.33. TE Connectivity Ltd. has a 12-month low of $116.01 and a 12-month high of $159.98. 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 announced that its Board of Directors has initiated a share repurchase plan on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.