Bremer Trust National Association Cuts Holdings in TE Connectivity Ltd (TEL)

Bremer Trust National Association cut its stake in TE Connectivity Ltd (NYSE:TEL) by 6.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 30,388 shares of the electronics maker’s stock after selling 1,957 shares during the quarter. TE Connectivity accounts for about 0.8% of Bremer Trust National Association’s portfolio, making the stock its 28th largest position. Bremer Trust National Association’s holdings in TE Connectivity were worth $2,889,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in TE Connectivity by 2.3% in the second quarter. Vanguard Group Inc. now owns 23,312,100 shares of the electronics maker’s stock valued at $1,834,196,000 after purchasing an additional 521,884 shares during the period. Russell Investments Group Ltd. raised its position in TE Connectivity by 10.9% in the third quarter. Russell Investments Group Ltd. now owns 227,441 shares of the electronics maker’s stock valued at $18,890,000 after purchasing an additional 22,345 shares during the period. PNC Financial Services Group Inc. raised its position in TE Connectivity by 499.5% in the second quarter. PNC Financial Services Group Inc. now owns 1,386,610 shares of the electronics maker’s stock valued at $109,098,000 after purchasing an additional 1,155,316 shares during the period. U S Global Investors Inc. raised its position in TE Connectivity by 21.1% in the second quarter. U S Global Investors Inc. now owns 6,540 shares of the electronics maker’s stock valued at $515,000 after purchasing an additional 1,140 shares during the period. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its position in TE Connectivity by 55.2% in the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 315,263 shares of the electronics maker’s stock valued at $26,131,000 after purchasing an additional 112,161 shares during the period. 90.02% of the stock is currently owned by institutional investors.

Shares of TE Connectivity Ltd (NYSE TEL) traded up $0.91 during midday trading on Friday, hitting $100.17. The stock had a trading volume of 1,501,120 shares, compared to its average volume of 1,725,533. TE Connectivity Ltd has a twelve month low of $68.82 and a twelve month high of $100.70. The stock has a market capitalization of $35,330.00, a price-to-earnings ratio of 21.40, a price-to-earnings-growth ratio of 1.73 and a beta of 1.08. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.07 and a current ratio of 1.54.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.09. TE Connectivity had a return on equity of 18.97% and a net margin of 12.84%. The business had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same period in the previous year, the company earned $1.22 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. research analysts expect that TE Connectivity Ltd will post 5.27 EPS for the current fiscal year.

TE Connectivity announced that its Board of Directors has authorized a stock buyback plan on Friday, December 8th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the electronics maker to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Several research analysts have commented on the company. Zacks Investment Research raised TE Connectivity from a “hold” rating to a “buy” rating and set a $112.00 price objective on the stock in a research report on Monday. Morgan Stanley raised their price objective on TE Connectivity from $97.00 to $102.00 and gave the company an “overweight” rating in a research report on Wednesday, December 13th. Stifel Nicolaus raised their price objective on TE Connectivity from $98.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, December 14th. ValuEngine raised TE Connectivity from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, Cross Research raised TE Connectivity from a “hold” rating to a “buy” rating in a research report on Friday, December 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the stock. TE Connectivity currently has an average rating of “Buy” and an average price target of $159.38.

In related news, Chairman Thomas J. Lynch sold 60,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $93.05, for a total value of $5,583,000.00. Following the completion of the sale, the chairman now directly owns 167,336 shares of the company’s stock, valued at $15,570,614.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Thomas J. Lynch sold 130,617 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $91.29, for a total value of $11,924,025.93. Following the completion of the sale, the insider now directly owns 429,500 shares of the company’s stock, valued at $39,209,055. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 705,373 shares of company stock worth $65,870,755. Corporate insiders own 1.49% of the company’s stock.

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TE Connectivity 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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Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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