Quantitative Systematic Strategies LLC purchased a new stake in TE Connectivity Ltd. (NYSE:TEL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 13,006 shares of the electronics maker’s stock, valued at approximately $1,017,000.
A number of other large investors also recently modified their holdings of the company. Morgan Stanley boosted its stake in shares of TE Connectivity by 55.6% in the first quarter. Morgan Stanley now owns 1,552,290 shares of the electronics maker’s stock worth $115,724,000 after buying an additional 554,403 shares during the period. Howland Capital Management LLC boosted its stake in shares of TE Connectivity by 0.4% in the first quarter. Howland Capital Management LLC now owns 266,606 shares of the electronics maker’s stock worth $19,875,000 after buying an additional 1,019 shares during the period. First Manhattan Co. boosted its stake in shares of TE Connectivity by 18.1% in the first quarter. First Manhattan Co. now owns 3,918 shares of the electronics maker’s stock worth $252,000 after buying an additional 600 shares during the period. Toronto Dominion Bank boosted its stake in shares of TE Connectivity by 56.5% in the first quarter. Toronto Dominion Bank now owns 95,909 shares of the electronics maker’s stock worth $7,149,000 after buying an additional 34,630 shares during the period. Finally, Fiduciary Management Inc. WI boosted its stake 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 during the period. Institutional investors own 90.89% of the company’s stock.
TE Connectivity Ltd. (NYSE:TEL) traded up 0.83% during trading on Friday, reaching $80.38. The company’s stock had a trading volume of 953,946 shares. TE Connectivity Ltd. has a 52 week low of $58.33 and a 52 week high of $85.20. The firm has a market capitalization of $28.41 billion, a P/E ratio of 17.07 and a beta of 1.06. The firm has a 50-day moving average price of $79.98 and a 200-day moving average price of $76.36.
TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, July 26th. The electronics maker reported $1.24 earnings per share 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 for the quarter, compared to the consensus estimate of $3.28 billion. During the same period in the prior year, the business posted $1.08 earnings per share. TE Connectivity’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, equities analysts anticipate that TE Connectivity Ltd. will post $4.74 EPS for the current fiscal year.
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A number of analysts recently issued reports on the company. BidaskClub cut TE Connectivity from a “buy” rating to a “hold” rating in a research report on Friday. Royal Bank Of Canada raised their price target 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 raised TE Connectivity from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a report on Thursday, June 22nd. Finally, Cowen and Company reissued an “outperform” rating and issued a $95.00 price target (up from $90.00) on shares of TE Connectivity in a report on Monday, June 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $83.43.
In other TE Connectivity news, SVP Mario Calastri sold 6,000 shares of the stock in a transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John S. Jenkins sold 14,000 shares of the company’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $75.70, for a total transaction of $1,059,800.00. Following the sale, the executive vice president now owns 8,823 shares of the company’s stock, valued at $667,901.10. The disclosure for this sale can be found here. Insiders have sold 734,107 shares of company stock worth $58,302,629 over the last three months. 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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