PNC Financial Services Group Inc. Boosts Stake in TE Connectivity Ltd. (TEL)

PNC Financial Services Group Inc. grew its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 499.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,386,610 shares of the electronics maker’s stock after purchasing an additional 1,155,316 shares during the period. PNC Financial Services Group Inc. owned approximately 0.39% of TE Connectivity worth $109,098,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Duncker Streett & Co. Inc. boosted its position in shares of TE Connectivity by 17.8% during the 2nd quarter. Duncker Streett & Co. Inc. now owns 1,325 shares of the electronics maker’s stock valued at $104,000 after purchasing an additional 200 shares in the last quarter. First Command Bank boosted its position in shares of TE Connectivity by 19.6% during the 2nd quarter. First Command Bank now owns 1,348 shares of the electronics maker’s stock valued at $106,000 after purchasing an additional 221 shares in the last quarter. Guardian Life Insurance Co. of America boosted its position in shares of TE Connectivity by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,370 shares of the electronics maker’s stock valued at $102,000 after purchasing an additional 9 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of TE Connectivity by 38.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,379 shares of the electronics maker’s stock valued at $109,000 after purchasing an additional 384 shares in the last quarter. Finally, Orrstown Financial Services Inc. boosted its position in shares of TE Connectivity by 7.9% during the 2nd quarter. Orrstown Financial Services Inc. now owns 1,835 shares of the electronics maker’s stock valued at $144,000 after purchasing an additional 135 shares in the last quarter. Institutional investors own 90.10% of the company’s stock.

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Several equities analysts have recently weighed in on TEL shares. BidaskClub lowered shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research report on Thursday, June 22nd. Finally, Cowen and Company restated a “buy” rating and set a $95.00 price objective on shares of TE Connectivity in a research report on Thursday, August 10th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $83.43.

Shares of TE Connectivity Ltd. (NYSE:TEL) traded up 1.07% on Friday, hitting $82.15. 1,633,504 shares of the company’s stock traded hands. TE Connectivity Ltd. has a 1-year low of $60.59 and a 1-year high of $85.20. The firm’s 50-day moving average price is $79.62 and its 200 day moving average price is $77.57. The company has a market cap of $29.03 billion, a price-to-earnings ratio of 17.44 and a beta of 1.05.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, July 26th. The electronics maker reported $1.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.07. The firm had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.28 billion. TE Connectivity had a return on equity of 19.76% and a net margin of 12.98%. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.08 EPS. On average, equities research analysts expect that TE Connectivity Ltd. will post $4.75 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 25th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $1.60 annualized dividend and a dividend yield of 1.95%. TE Connectivity’s payout ratio is currently 33.97%.

In other news, COO Joseph B. Donahue sold 52,575 shares of the business’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $80.03, for a total transaction of $4,207,577.25. Following the completion of the transaction, the chief operating officer now directly owns 93,484 shares in the company, valued at approximately $7,481,524.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Joseph B. Donahue sold 6,300 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $80.70, for a total value of $508,410.00. Following the transaction, the chief operating officer now owns 34,609 shares of the company’s stock, valued at $2,792,946.30. The disclosure for this sale can be found here. Insiders have sold a total of 749,165 shares of company stock valued at $59,522,187 over the last 90 days. Corporate insiders own 1.30% of the company’s stock.

TE Connectivity Profile

TE Connectivity Ltd. is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Transportation Solutions segment offers connectivity and sensor technologies.

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Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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