JPMorgan Chase & Co. Sells 228,560 Shares of TE Connectivity Ltd. (NYSE:TEL)

JPMorgan Chase & Co. cut its stake in shares of TE Connectivity Ltd. (NYSE:TELGet Rating) by 23.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 743,610 shares of the electronics maker’s stock after selling 228,560 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.23% of TE Connectivity worth $84,140,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC boosted its stake in TE Connectivity by 37.2% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 3,851 shares of the electronics maker’s stock worth $504,000 after purchasing an additional 1,044 shares during the period. Envestnet Asset Management Inc. boosted its stake in TE Connectivity by 2.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 505,707 shares of the electronics maker’s stock worth $66,237,000 after purchasing an additional 9,789 shares during the period. Gladstone Institutional Advisory LLC bought a new position in TE Connectivity in the 1st quarter worth approximately $217,000. Thoroughbred Financial Services LLC boosted its stake in TE Connectivity by 4.0% in the 1st quarter. Thoroughbred Financial Services LLC now owns 2,277 shares of the electronics maker’s stock worth $298,000 after purchasing an additional 87 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in TE Connectivity by 17.2% in the 1st quarter. Victory Capital Management Inc. now owns 96,377 shares of the electronics maker’s stock worth $12,026,000 after purchasing an additional 14,170 shares during the period. 90.61% of the stock is currently owned by institutional investors.

Insider Transactions at TE Connectivity

In other news, EVP John S. Jenkins sold 2,674 shares of the stock in a transaction on Friday, November 18th. The stock was sold at an average price of $125.85, for a total transaction of $336,522.90. Following the transaction, the executive vice president now owns 16,782 shares of the company’s stock, valued at approximately $2,112,014.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP John S. Jenkins sold 2,674 shares of the stock in a transaction on Friday, November 18th. The stock was sold at an average price of $125.85, for a total transaction of $336,522.90. Following the transaction, the executive vice president now owns 16,782 shares of the company’s stock, valued at approximately $2,112,014.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Terrence R. Curtin sold 3,000 shares of the stock in a transaction on Friday, August 26th. The stock was sold at an average price of $131.85, for a total value of $395,550.00. Following the transaction, the director now directly owns 54,969 shares in the company, valued at approximately $7,247,662.65. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,824 shares of company stock valued at $6,053,510. 0.73% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TEL has been the subject of several recent analyst reports. Jefferies Financial Group upped their price target on TE Connectivity from $140.00 to $154.00 in a research note on Tuesday. StockNews.com cut TE Connectivity from a “buy” rating to a “hold” rating in a report on Thursday, November 17th. Royal Bank of Canada decreased their price objective on TE Connectivity from $147.00 to $138.00 and set an “outperform” rating on the stock in a report on Thursday, November 3rd. JPMorgan Chase & Co. decreased their price objective on TE Connectivity from $145.00 to $135.00 and set a “neutral” rating on the stock in a report on Thursday, November 3rd. Finally, Bank of America decreased their price objective on TE Connectivity from $146.00 to $140.00 in a report on Wednesday, November 2nd. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $138.56.

TE Connectivity Stock Performance

TEL stock opened at $127.26 on Thursday. The company has a quick ratio of 0.99, a current ratio of 1.57 and a debt-to-equity ratio of 0.30. The business’s fifty day simple moving average is $117.70 and its two-hundred day simple moving average is $122.08. TE Connectivity Ltd. has a twelve month low of $104.76 and a twelve month high of $165.81. The firm has a market cap of $40.37 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 2.58 and a beta of 1.31.

TE Connectivity (NYSE:TELGet Rating) last released its earnings results on Wednesday, November 2nd. The electronics maker reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.01. TE Connectivity had a return on equity of 22.31% and a net margin of 14.91%. The business had revenue of $4.36 billion for the quarter, compared to analyst estimates of $4.22 billion. Analysts predict that TE Connectivity Ltd. will post 6.82 earnings per share for the current year.

TE Connectivity Profile

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TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the Asia-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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