Russell Investments Group Ltd. lessened its holdings in shares of TE Connectivity Ltd. (NYSE:TEL – Free Report) by 11.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 148,748 shares of the electronics maker’s stock after selling 19,988 shares during the period. Russell Investments Group Ltd.’s holdings in TE Connectivity were worth $20,842,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in TEL. Private Trust Co. NA increased its holdings in shares of TE Connectivity by 1.3% during the 2nd quarter. Private Trust Co. NA now owns 6,384 shares of the electronics maker’s stock worth $895,000 after purchasing an additional 79 shares during the period. IHT Wealth Management LLC increased its holdings in shares of TE Connectivity by 3.9% during the 1st quarter. IHT Wealth Management LLC now owns 2,241 shares of the electronics maker’s stock worth $294,000 after purchasing an additional 84 shares during the period. Savant Capital LLC increased its holdings in shares of TE Connectivity by 3.4% during the 1st quarter. Savant Capital LLC now owns 2,579 shares of the electronics maker’s stock worth $338,000 after purchasing an additional 86 shares during the period. Parkside Financial Bank & Trust increased its holdings in shares of TE Connectivity by 18.0% during the 1st quarter. Parkside Financial Bank & Trust now owns 571 shares of the electronics maker’s stock worth $75,000 after purchasing an additional 87 shares during the period. Finally, Rothschild Investment Corp IL increased its holdings in shares of TE Connectivity by 0.9% during the 2nd quarter. Rothschild Investment Corp IL now owns 9,937 shares of the electronics maker’s stock worth $1,393,000 after purchasing an additional 88 shares during the period. Institutional investors own 90.75% of the company’s stock.
Analyst Ratings Changes
A number of research firms recently weighed in on TEL. TD Cowen raised shares of TE Connectivity from a “market perform” rating to an “outperform” rating and upped their target price for the company from $115.00 to $140.00 in a research note on Friday, October 6th. StockNews.com began coverage on shares of TE Connectivity in a research note on Thursday, October 5th. They issued a “buy” rating on the stock. Truist Financial lowered their target price on shares of TE Connectivity from $147.00 to $135.00 and set a “hold” rating on the stock in a research note on Friday, November 3rd. Finally, Robert W. Baird upped their target price on shares of TE Connectivity from $149.00 to $153.00 in a research note on Thursday, July 27th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $143.63.
TE Connectivity Price Performance
Shares of TEL stock 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 firm’s 50 day moving average is $123.77 and its 200-day moving average is $129.29. The firm has a market capitalization of $40.79 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 2.52 and a beta of 1.33. The company has a current ratio of 1.77, a quick ratio of 1.20 and a debt-to-equity ratio of 0.31.
TE Connectivity (NYSE:TEL – Get Free Report) last announced its quarterly earnings data on Wednesday, November 1st. The electronics maker reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.02. TE Connectivity had a net margin of 11.91% and a return on equity of 18.88%. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period in the prior year, the business posted $1.88 earnings per share. TE Connectivity’s revenue was down 9.1% compared to the same quarter last year. Sell-side analysts forecast that TE Connectivity Ltd. will post 7.39 EPS for the current fiscal year.
TE Connectivity Company Profile
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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