Russell Investments Group Ltd. lessened its stake in TE Connectivity Ltd. (NYSE:TEL – Free Report) by 11.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 148,748 shares of the electronics maker’s stock after selling 19,988 shares during the quarter. Russell Investments Group Ltd.’s holdings in TE Connectivity were worth $20,842,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Tucker Asset Management LLC bought a new position in shares of TE Connectivity in the first quarter valued at approximately $25,000. Cullen Frost Bankers Inc. bought a new position in shares of TE Connectivity in the first quarter valued at approximately $27,000. Centerpoint Advisors LLC purchased a new stake in shares of TE Connectivity during the first quarter valued at approximately $33,000. Blume Capital Management Inc. purchased a new stake in shares of TE Connectivity during the first quarter valued at approximately $36,000. Finally, Money Concepts Capital Corp increased its position in shares of TE Connectivity by 101.3% during the fourth quarter. Money Concepts Capital Corp now owns 322 shares of the electronics maker’s stock valued at $37,000 after acquiring an additional 162 shares during the last quarter. Institutional investors own 90.75% of the company’s stock.
Analyst Ratings Changes
A number of analysts recently commented on TEL shares. StockNews.com started coverage on TE Connectivity in a research report on Thursday, October 5th. They set a “buy” rating for the company. Truist Financial decreased their price target on TE Connectivity from $147.00 to $135.00 and set a “hold” rating for the company in a research report on Friday, November 3rd. TD Cowen raised TE Connectivity from a “market perform” rating to an “outperform” rating and increased their price target for the company from $115.00 to $140.00 in a research report on Friday, October 6th. Finally, Robert W. Baird increased their price target on TE Connectivity from $149.00 to $153.00 in a research report on Thursday, July 27th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $143.63.
TE Connectivity Stock Performance
NYSE:TEL opened at $131.26 on Tuesday. TE Connectivity Ltd. has a 1 year low of $111.94 and a 1 year high of $146.60. The business has a fifty day simple moving average of $123.77 and a two-hundred day simple moving average of $129.29. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.77 and a quick ratio of 1.20. The company has a market capitalization of $40.79 billion, a P/E ratio of 21.80, a P/E/G ratio of 2.52 and a beta of 1.33.
TE Connectivity (NYSE:TEL – Get Free Report) last posted its quarterly earnings data on Wednesday, November 1st. The electronics maker reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.02. TE Connectivity had a return on equity of 18.88% and a net margin of 11.91%. The company had revenue of $4 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter last year, the company earned $1.88 earnings per share. The firm’s quarterly revenue was down 9.1% on a year-over-year basis. On average, analysts expect that TE Connectivity Ltd. will post 7.39 earnings per share for the current year.
About TE Connectivity
TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.
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