Smith Salley Wealth Management Has $322,000 Stake in TE Connectivity Ltd. (NYSE:TEL)

Smith Salley Wealth Management trimmed its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 96.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,215 shares of the electronics maker’s stock after selling 62,542 shares during the period. Smith Salley Wealth Management’s holdings in TE Connectivity were worth $322,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Daiwa Securities Group Inc. lifted its position in shares of TE Connectivity by 3.2% during the first quarter. Daiwa Securities Group Inc. now owns 38,817 shares of the electronics maker’s stock worth $5,638,000 after purchasing an additional 1,220 shares in the last quarter. Haverford Trust Co lifted its position in shares of TE Connectivity by 4.3% during the first quarter. Haverford Trust Co now owns 197,991 shares of the electronics maker’s stock worth $28,756,000 after purchasing an additional 8,126 shares in the last quarter. First Pacific Advisors LP raised its stake in shares of TE Connectivity by 0.4% during the first quarter. First Pacific Advisors LP now owns 2,776,505 shares of the electronics maker’s stock worth $403,260,000 after buying an additional 10,167 shares during the last quarter. Fidelis Capital Partners LLC raised its stake in shares of TE Connectivity by 25.7% during the first quarter. Fidelis Capital Partners LLC now owns 4,185 shares of the electronics maker’s stock worth $608,000 after buying an additional 855 shares during the last quarter. Finally, Goelzer Investment Management Inc. raised its stake in shares of TE Connectivity by 0.5% during the first quarter. Goelzer Investment Management Inc. now owns 62,900 shares of the electronics maker’s stock worth $9,136,000 after buying an additional 323 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Shadrak W. Kroeger sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $149.86, for a total value of $749,300.00. Following the completion of the transaction, the insider now owns 25,976 shares in the company, valued at $3,892,763.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Mark Trudeau sold 7,044 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $141.49, for a total transaction of $996,655.56. Following the completion of the transaction, the director now owns 5,917 shares in the company, valued at $837,196.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shadrak W. Kroeger sold 5,000 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $149.86, for a total transaction of $749,300.00. Following the transaction, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,892,763.36. The disclosure for this sale can be found here. Corporate insiders own 0.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TEL. JPMorgan Chase & Co. dropped their price target on shares of TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. The Goldman Sachs Group reissued a “buy” rating on shares of TE Connectivity in a research note on Monday, April 1st. Jefferies Financial Group began coverage on shares of TE Connectivity in a research note on Tuesday, April 9th. They set a “buy” rating and a $180.00 price target for the company. Robert W. Baird dropped their price target on shares of TE Connectivity from $159.00 to $158.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Finally, StockNews.com initiated coverage on shares of TE Connectivity in a research note on Wednesday, July 3rd. They issued a “buy” rating for the company. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $155.13.

TE Connectivity Trading Down 0.6 %

NYSE:TEL traded down $0.84 during trading hours on Tuesday, hitting $149.82. The stock had a trading volume of 1,435,466 shares, compared to its average volume of 1,949,897. The company has a market cap of $45.88 billion, a price-to-earnings ratio of 13.80, a P/E/G ratio of 2.20 and a beta of 1.33. TE Connectivity Ltd. has a one year low of $115.00 and a one year high of $153.54. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.92 and a current ratio of 1.45. The business’s 50 day moving average is $148.63 and its 200-day moving average is $143.59.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.03. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.96 billion. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The business’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.65 earnings per share. Sell-side analysts anticipate that TE Connectivity Ltd. will post 7.5 EPS for the current fiscal year.

About TE Connectivity

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.