Great West Life Assurance Co. Can cut its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 4.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 265,095 shares of the electronics maker’s stock after selling 11,189 shares during the period. Great West Life Assurance Co. Can owned 0.07% of TE Connectivity worth $20,836,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in the stock. Janney Montgomery Scott LLC boosted its position in shares of TE Connectivity by 13.6% in the second quarter. Janney Montgomery Scott LLC now owns 49,659 shares of the electronics maker’s stock valued at $3,907,000 after buying an additional 5,957 shares during the last quarter. Harbour Capital Advisors LLC boosted its position in shares of TE Connectivity by 7,536.8% in the second quarter. Harbour Capital Advisors LLC now owns 454,770 shares of the electronics maker’s stock valued at $5,780,000 after buying an additional 448,815 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its position in shares of TE Connectivity by 125.5% in the second quarter. Municipal Employees Retirement System of Michigan now owns 25,690 shares of the electronics maker’s stock valued at $2,021,000 after buying an additional 14,300 shares during the last quarter. Reliance Trust Co. of Delaware bought a new position in shares of TE Connectivity during the second quarter valued at $2,675,000. Finally, Howland Capital Management LLC boosted its position in shares of TE Connectivity by 1.5% in the second quarter. Howland Capital Management LLC now owns 270,552 shares of the electronics maker’s stock valued at $21,287,000 after buying an additional 3,946 shares during the last quarter. Institutional investors own 90.89% of the company’s stock.
TE Connectivity Ltd. (TEL) opened at 80.38 on Friday. TE Connectivity Ltd. has a 12-month low of $58.00 and a 12-month high of $85.20. The company has a market cap of $28.41 billion, a PE ratio of 17.07 and a beta of 1.06. The company’s 50-day moving average price is $79.98 and its 200-day moving average price is $76.36.
TE Connectivity (NYSE:TEL) last issued its quarterly earnings data 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 business had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.28 billion. During the same period in the prior year, the firm posted $1.08 EPS. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. Equities analysts anticipate that TE Connectivity Ltd. will post $4.74 earnings per share for the current year.
Several brokerages have recently weighed in on TEL. BidaskClub cut TE Connectivity from a “buy” rating to a “hold” rating in a report on Friday. Royal Bank Of Canada raised their price objective on TE Connectivity from $86.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, June 27th. Zacks Investment Research upgraded TE Connectivity from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a report on Thursday, June 22nd. Finally, Cowen and Company reiterated an “outperform” rating and set a $95.00 price target (up previously from $90.00) on shares of TE Connectivity in a report on Monday, June 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. TE Connectivity has a consensus rating of “Buy” and a consensus target price of $83.43.
In other news, insider Thomas J. Lynch sold 186,034 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 504,885 shares of the company’s stock, valued at approximately $39,709,205.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Mario Calastri sold 6,000 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $80.23, for a total transaction of $481,380.00. Following the transaction, the senior vice president now directly owns 23,078 shares of the company’s stock, valued at $1,851,547.94. The disclosure for this sale can be found here. Insiders have sold a total of 734,107 shares of company stock valued at $58,302,629 over the last three months. Insiders own 1.30% of the company’s stock.
TE Connectivity Company 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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