Regentatlantic Capital LLC decreased its position in TE Connectivity Ltd. (NYSE:TEL) by 2.4% during the second quarter, Holdings Channel reports. The firm owned 13,631 shares of the electronics maker’s stock after selling 342 shares during the period. Regentatlantic Capital LLC’s holdings in TE Connectivity were worth $1,072,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. 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. 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. State Street Corp increased its stake in TE Connectivity by 3.6% in the first quarter. State Street Corp now owns 13,850,157 shares of the electronics maker’s stock worth $1,032,534,000 after buying an additional 486,340 shares during the period. Boston Partners increased its stake in TE Connectivity by 1.6% in the first quarter. Boston Partners now owns 11,779,206 shares of the electronics maker’s stock worth $878,140,000 after buying an additional 187,835 shares during the period. Finally, Fiduciary Management Inc. WI boosted its position in shares of TE Connectivity by 3.6% in the first quarter. Fiduciary Management Inc. WI now owns 9,616,782 shares of the electronics maker’s stock worth $716,931,000 after buying an additional 331,080 shares in the last quarter. 90.90% of the stock is currently owned by institutional investors and hedge funds.
Shares of TE Connectivity Ltd. (NYSE TEL) traded up 1.64% on Friday, reaching $81.89. 2,041,961 shares of the company’s stock were exchanged. TE Connectivity Ltd. has a 12 month low of $57.85 and a 12 month high of $85.20. The firm’s 50-day moving average price is $79.92 and its 200 day moving average price is $76.09. The company has a market cap of $28.96 billion, a price-to-earnings ratio of 17.39 and a beta of 1.06.
TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, July 26th. The electronics maker reported $1.24 earnings per share (EPS) for the quarter, topping the Zacks’ 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 for the quarter, compared to analyst estimates of $3.28 billion. During the same quarter in the prior year, the business posted $1.08 EPS. The business’s revenue was up 7.9% compared to the same quarter last year. Equities research analysts predict that TE Connectivity Ltd. will post $4.73 EPS for the current fiscal year.
A number of research analysts have commented on the stock. Zacks Investment Research upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research note on Monday, May 29th. Royal Bank Of Canada restated an “outperform” rating and set a $86.00 price target (up previously from $82.00) on shares of TE Connectivity in a research note on Saturday, April 29th. Deutsche Bank AG raised their price target on shares of TE Connectivity from $75.00 to $82.00 and gave the stock a “hold” rating in a research note on Friday, April 28th. Finally, BidaskClub cut shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. TE Connectivity has an average rating of “Buy” and an average target price of $83.43.
In related news, COO Joseph B. Donahue sold 6,600 shares of the stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $75.57, for a total transaction of $498,762.00. Following the sale, the chief operating officer now owns 40,909 shares in the company, valued at approximately $3,091,493.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas J. Lynch sold 131,875 shares of the stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $76.85, for a total transaction of $10,134,593.75. Following the sale, the insider now owns 450,694 shares in the company, valued at approximately $34,635,833.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 514,184 shares of company stock worth $40,256,534. Company insiders own 1.30% of the company’s stock.
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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