Bremer Trust National Association reduced its position in TE Connectivity Ltd (NYSE:TEL) by 6.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,388 shares of the electronics maker’s stock after selling 1,957 shares during the period. TE Connectivity comprises 0.8% of Bremer Trust National Association’s investment portfolio, making the stock its 28th biggest position. Bremer Trust National Association’s holdings in TE Connectivity were worth $2,889,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TEL. Victory Capital Management Inc. increased its stake in TE Connectivity by 5.2% in the 2nd quarter. Victory Capital Management Inc. now owns 8,643 shares of the electronics maker’s stock valued at $680,000 after purchasing an additional 430 shares in the last quarter. Schroder Investment Management Group purchased a new position in TE Connectivity during the second quarter worth $206,000. CIBC World Markets Inc. purchased a new position in TE Connectivity during the second quarter worth $718,000. AXA increased its position in TE Connectivity by 21.8% during the second quarter. AXA now owns 4,132 shares of the electronics maker’s stock worth $325,000 after buying an additional 740 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in TE Connectivity by 38.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,379 shares of the electronics maker’s stock worth $109,000 after buying an additional 384 shares in the last quarter. 90.02% of the stock is owned by hedge funds and other institutional investors.
In related news, SVP Eric Resch sold 48,950 shares of TE Connectivity stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $93.75, for a total value of $4,589,062.50. Following the transaction, the senior vice president now owns 78,129 shares in the company, valued at $7,324,593.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas J. Lynch sold 130,617 shares of TE Connectivity stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $91.29, for a total value of $11,924,025.93. Following the completion of the transaction, the insider now owns 429,500 shares in the company, valued at approximately $39,209,055. The disclosure for this sale can be found here. Insiders have sold 705,373 shares of company stock worth $65,870,755 in the last 90 days. Insiders own 1.49% of the company’s stock.
Several research firms have weighed in on TEL. Zacks Investment Research raised TE Connectivity from a “hold” rating to a “buy” rating and set a $112.00 price target for the company in a research report on Monday. ValuEngine raised TE Connectivity from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Stifel Nicolaus reissued a “buy” rating and set a $87.00 price target on shares of TE Connectivity in a research report on Tuesday, October 17th. Royal Bank of Canada dropped their price target on TE Connectivity from $100.00 to $95.00 and set an “outperform” rating for the company in a research report on Thursday, November 2nd. Finally, SunTrust Banks raised their price target on TE Connectivity to $90.00 and gave the stock a “hold” rating in a research report on Thursday, November 2nd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $159.38.
TE Connectivity Ltd (NYSE TEL) traded up $0.91 during mid-day trading on Friday, hitting $100.17. The stock had a trading volume of 1,501,120 shares, compared to its average volume of 1,725,533. TE Connectivity Ltd has a 1-year low of $68.82 and a 1-year high of $100.70. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $35,330.00, a PE ratio of 21.40, a price-to-earnings-growth ratio of 1.73 and a beta of 1.08.
TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.09. TE Connectivity had a return on equity of 18.97% and a net margin of 12.84%. The business had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same quarter last year, the firm earned $1.22 earnings per share. The business’s revenue was up 3.7% on a year-over-year basis. sell-side analysts forecast that TE Connectivity Ltd will post 5.27 EPS for the current year.
TE Connectivity declared that its Board of Directors has authorized a share buyback plan on Friday, December 8th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the electronics maker to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
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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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