TE Connectivity Ltd (TEL) Position Lessened by SeaBridge Investment Advisors LLC

SeaBridge Investment Advisors LLC cut its holdings in TE Connectivity Ltd (NYSE:TEL) by 5.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,263 shares of the electronics maker’s stock after selling 2,987 shares during the quarter. TE Connectivity makes up approximately 1.3% of SeaBridge Investment Advisors LLC’s holdings, making the stock its 28th largest holding. SeaBridge Investment Advisors LLC’s holdings in TE Connectivity were worth $4,947,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of TEL. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in TE Connectivity by 0.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 142,091 shares of the electronics maker’s stock valued at $12,797,000 after acquiring an additional 619 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in TE Connectivity by 6.4% during the 1st quarter. Commonwealth Equity Services LLC now owns 11,385 shares of the electronics maker’s stock valued at $1,137,000 after acquiring an additional 688 shares in the last quarter. First Citizens Bank & Trust Co. boosted its position in TE Connectivity by 2.7% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 26,851 shares of the electronics maker’s stock valued at $2,418,000 after acquiring an additional 705 shares in the last quarter. Summit Trail Advisors LLC boosted its position in TE Connectivity by 1.7% during the 1st quarter. Summit Trail Advisors LLC now owns 43,395 shares of the electronics maker’s stock valued at $2,504,000 after acquiring an additional 732 shares in the last quarter. Finally, Asset Advisors Corp boosted its position in TE Connectivity by 1.4% during the 2nd quarter. Asset Advisors Corp now owns 54,080 shares of the electronics maker’s stock valued at $4,870,000 after acquiring an additional 760 shares in the last quarter. 87.89% of the stock is currently owned by institutional investors.

Several research firms have weighed in on TEL. Morgan Stanley cut their price objective on TE Connectivity from $117.00 to $116.00 and set an “overweight” rating on the stock in a research report on Thursday, July 26th. Zacks Investment Research cut TE Connectivity from a “hold” rating to a “sell” rating in a research report on Wednesday, July 18th. Wells Fargo & Co cut their price objective on TE Connectivity from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 17th. Royal Bank of Canada set a $114.00 price objective on TE Connectivity and gave the company a “buy” rating in a research report on Tuesday, September 25th. Finally, Robert W. Baird cut TE Connectivity from an “outperform” rating to a “neutral” rating in a research report on Monday, October 1st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $111.45.

Shares of TEL traded down $0.95 during mid-day trading on Friday, reaching $77.66. The company had a trading volume of 117,092 shares, compared to its average volume of 2,257,780. The company has a quick ratio of 0.98, a current ratio of 1.47 and a debt-to-equity ratio of 0.35. TE Connectivity Ltd has a 52 week low of $77.70 and a 52 week high of $108.23. The stock has a market cap of $27.72 billion, a P/E ratio of 16.25, a P/E/G ratio of 1.21 and a beta of 1.01.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, July 25th. The electronics maker reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.06. TE Connectivity had a return on equity of 20.33% and a net margin of 9.26%. The firm had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.69 billion. During the same period in the previous year, the firm posted $1.24 EPS. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, equities analysts anticipate that TE Connectivity Ltd will post 5.58 EPS for the current year.

About TE Connectivity

TE Connectivity Ltd., together with its subsidiaries, engages in the design, manufacture, and sale of connectivity and sensors solutions in the Americas, Europe, the Middle East, Africa, and the Asia–Pacific. 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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