Tudor Investment Corp ET AL reduced its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 75.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,024 shares of the electronics maker’s stock after selling 18,756 shares during the period. Tudor Investment Corp ET AL’s holdings in TE Connectivity were worth $474,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Guardian Life Insurance Co. of America lifted its holdings in shares of TE Connectivity by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,370 shares of the electronics maker’s stock worth $102,000 after acquiring an additional 9 shares during the period. Duncker Streett & Co. Inc. lifted its holdings in shares of TE Connectivity by 17.8% during the 2nd quarter. Duncker Streett & Co. Inc. now owns 1,325 shares of the electronics maker’s stock worth $104,000 after acquiring an additional 200 shares during the period. First Command Bank lifted its holdings in shares of TE Connectivity by 19.6% during the 2nd quarter. First Command Bank now owns 1,348 shares of the electronics maker’s stock worth $106,000 after acquiring an additional 221 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of TE Connectivity by 38.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,379 shares of the electronics maker’s stock worth $109,000 after acquiring an additional 384 shares during the period. Finally, Acrospire Investment Management LLC purchased a new position in shares of TE Connectivity during the 2nd quarter worth about $126,000. Institutional investors and hedge funds own 90.08% of the company’s stock.
Several research analysts have recently weighed in on the stock. BidaskClub lowered shares of TE Connectivity from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Morgan Stanley restated an “overweight” rating and issued a $89.00 price target on shares of TE Connectivity in a report on Wednesday, September 20th. Cowen and Company restated a “buy” rating and issued a $95.00 price target on shares of TE Connectivity in a report on Thursday, August 10th. Zacks Investment Research upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a report on Monday, September 18th. Finally, Royal Bank Of Canada raised their price target on shares of TE Connectivity from $86.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, June 27th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $84.14.
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Shares of TE Connectivity Ltd. (NYSE TEL) opened at 86.51 on Wednesday. The firm has a market cap of $30.57 billion, a P/E ratio of 18.37 and a beta of 1.08. TE Connectivity Ltd. has a 52-week low of $60.59 and a 52-week high of $86.60. The stock’s 50 day moving average is $81.58 and its 200-day moving average is $78.68.
TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, July 26th. The electronics maker reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.07. TE Connectivity had a return on equity of 19.76% and a net margin of 12.98%. The company had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.28 billion. During the same period in the previous year, the company earned $1.08 earnings per share. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. Equities analysts anticipate that TE Connectivity Ltd. will post $4.75 earnings per share for the current fiscal year.
In other news, insider Thomas J. Lynch sold 186,033 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $79.75, for a total transaction of $14,836,131.75. Following the completion of the transaction, the insider now directly owns 504,884 shares in the company, valued at $40,264,499. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Thomas J. Lynch sold 130,616 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $83.37, for a total value of $10,889,455.92. Following the transaction, the insider now owns 429,499 shares of the company’s stock, valued at $35,807,331.63. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 693,747 shares of company stock valued at $55,780,069. Corporate insiders own 1.49% 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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