Miller Howard Investments Inc. NY cut its position in TE Connectivity Ltd. (NYSE:TEL) by 15.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,603 shares of the electronics maker’s stock after selling 476 shares during the period. Miller Howard Investments Inc. NY’s holdings in TE Connectivity were worth $205,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. BlackRock Inc. increased its stake in TE Connectivity by 1,777.1% in the first quarter. BlackRock Inc. now owns 17,203,935 shares of the electronics maker’s stock worth $1,282,551,000 after buying an additional 16,287,414 shares during the period. UBS Asset Management Americas Inc. increased its stake in TE Connectivity by 234,499.1% in the first quarter. UBS Asset Management Americas Inc. now owns 1,616,388 shares of the electronics maker’s stock worth $120,502,000 after buying an additional 1,615,699 shares during the period. Wedge Capital Management L L P NC acquired a new stake in TE Connectivity during the first quarter worth $61,260,000. Vanguard Group Inc. increased its stake in TE Connectivity by 3.6% in the first quarter. Vanguard Group Inc. now owns 22,790,216 shares of the electronics maker’s stock worth $1,699,010,000 after buying an additional 796,516 shares during the period. Finally, AQR Capital Management LLC increased its stake in TE Connectivity by 171.0% in the first quarter. AQR Capital Management LLC now owns 1,101,509 shares of the electronics maker’s stock worth $82,117,000 after buying an additional 695,092 shares during the period. Hedge funds and other institutional investors own 90.90% of the company’s stock.
Shares of TE Connectivity Ltd. (TEL) traded up 1.64% during trading on Friday, reaching $81.89. 2,041,961 shares of the company traded hands. The stock has a market capitalization of $28.96 billion, a PE ratio of 17.39 and a beta of 1.06. TE Connectivity Ltd. has a 52 week low of $57.85 and a 52 week high of $85.20. The firm has a 50 day moving average of $79.92 and a 200 day moving average of $76.09.
TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, July 26th. The electronics maker reported $1.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.07. TE Connectivity had a net margin of 12.98% and a return on equity of 19.76%. The firm had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.28 billion. During the same period last year, the business earned $1.08 earnings per share. TE Connectivity’s revenue was up 7.9% compared to the same quarter last year. On average, equities analysts predict that TE Connectivity Ltd. will post $4.73 EPS for the current year.
TEL has been the topic of a number of research reports. Zacks Investment Research downgraded shares of TE Connectivity from a “buy” rating to a “hold” rating in a report on Thursday, May 11th. Morgan Stanley boosted their target price on shares of TE Connectivity from $85.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, April 28th. Deutsche Bank AG upped their price target on shares of TE Connectivity from $75.00 to $82.00 and gave the company a “hold” rating in a report on Friday, April 28th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $86.00 price target on shares of TE Connectivity in a report on Tuesday, June 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $83.43.
In related news, insider Thomas J. Lynch sold 186,034 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $78.65, for a total transaction of $14,631,574.10. Following the completion of the sale, the insider now directly owns 504,885 shares in the company, valued at $39,709,205.25. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Robert J. Ott sold 12,400 shares of the firm’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $76.79, for a total transaction of $952,196.00. Following the sale, the senior vice president now owns 23,271 shares of the company’s stock, valued at $1,786,980.09. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 514,184 shares of company stock valued at $40,256,534. 1.30% of the stock is owned by company insiders.
About TE Connectivity
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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