Vident Investment Advisory LLC Has $1.41 Million Stock Position in TE Connectivity Ltd (NYSE:TEL)

Vident Investment Advisory LLC increased its position in shares of TE Connectivity Ltd (NYSE:TEL) by 94.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,293 shares of the electronics maker’s stock after acquiring an additional 8,416 shares during the quarter. Vident Investment Advisory LLC’s holdings in TE Connectivity were worth $1,410,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AlphaCrest Capital Management LLC lifted its holdings in shares of TE Connectivity by 55.2% during the 1st quarter. AlphaCrest Capital Management LLC now owns 21,278 shares of the electronics maker’s stock valued at $1,340,000 after purchasing an additional 7,571 shares in the last quarter. Nuveen Asset Management LLC increased its position in shares of TE Connectivity by 3.7% during the first quarter. Nuveen Asset Management LLC now owns 1,734,274 shares of the electronics maker’s stock worth $109,225,000 after acquiring an additional 62,336 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of TE Connectivity by 4.0% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 370,411 shares of the electronics maker’s stock worth $23,328,000 after acquiring an additional 14,090 shares during the period. Manning & Napier Group LLC lifted its position in TE Connectivity by 10.6% in the 2nd quarter. Manning & Napier Group LLC now owns 32,281 shares of the electronics maker’s stock valued at $2,632,000 after acquiring an additional 3,088 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in TE Connectivity by 8.8% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 85,036 shares of the electronics maker’s stock worth $6,935,000 after purchasing an additional 6,900 shares during the period. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Shares of TE Connectivity stock opened at $89.07 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.43 and a quick ratio of 0.94. The business has a fifty day simple moving average of $82.29 and a two-hundred day simple moving average of $80.28. TE Connectivity Ltd has a 1 year low of $48.62 and a 1 year high of $101.00. The company has a market capitalization of $29.38 billion, a price-to-earnings ratio of -287.32, a P/E/G ratio of 2.29 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, July 29th. The electronics maker reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.18. The company had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.40 billion. TE Connectivity had a negative net margin of 0.81% and a positive return on equity of 15.06%. The company’s revenue was down 24.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.50 earnings per share. As a group, equities analysts anticipate that TE Connectivity Ltd will post 3.74 earnings per share for the current fiscal year.

A number of brokerages have recently commented on TEL. Royal Bank of Canada boosted their price target on TE Connectivity from $89.00 to $102.00 and gave the company an “outperform” rating in a report on Thursday. Cfra cut their target price on TE Connectivity from $108.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Wells Fargo & Co raised their price target on shares of TE Connectivity from $92.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday. Citigroup lifted their price objective on shares of TE Connectivity from $75.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Robert W. Baird upgraded shares of TE Connectivity from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $76.00 to $97.00 in a research note on Monday, June 1st. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $95.71.

TE Connectivity Profile

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors solutions in Europe, the Middle East, Africa, the Asia-Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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

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