Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its stake in shares of TE Connectivity Ltd (NYSE:TEL) by 3.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 110,681 shares of the electronics maker’s stock after selling 3,700 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in TE Connectivity were worth $10,601,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of TEL. Thor Advisors LLC purchased a new position in shares of TE Connectivity in the 1st quarter valued at $26,000. Synovus Financial Corp increased its stake in TE Connectivity by 97.2% during the 1st quarter. Synovus Financial Corp now owns 355 shares of the electronics maker’s stock worth $28,000 after buying an additional 175 shares during the period. Weaver Consulting Group purchased a new stake in TE Connectivity during the 1st quarter worth $28,000. First Interstate Bank purchased a new stake in TE Connectivity during the 1st quarter worth $32,000. Finally, Legacy Advisors LLC purchased a new stake in TE Connectivity during the 1st quarter worth $33,000. 91.24% of the stock is currently owned by institutional investors.
In other news, Director Thomas J. Lynch sold 68,516 shares of TE Connectivity stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $95.36, for a total value of $6,533,685.76. Following the completion of the transaction, the director now directly owns 234,398 shares of the company’s stock, valued at approximately $22,352,193.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas J. Lynch sold 42,239 shares of TE Connectivity stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $95.11, for a total transaction of $4,017,351.29. Following the completion of the transaction, the director now directly owns 208,121 shares of the company’s stock, valued at $19,794,388.31. The disclosure for this sale can be found here. Over the last three months, insiders have sold 299,383 shares of company stock valued at $28,368,769. 0.80% of the stock is owned by company insiders.
TEL stock traded up $0.98 during mid-day trading on Friday, hitting $92.93. 37,006 shares of the company were exchanged, compared to its average volume of 1,309,400. The firm has a market cap of $31.23 billion, a P/E ratio of 16.57, a PEG ratio of 1.62 and a beta of 1.20. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.47 and a quick ratio of 0.90. TE Connectivity Ltd has a twelve month low of $69.84 and a twelve month high of $97.99. The stock’s fifty day moving average is $92.89.
TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.42 by $0.08. The company had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.43 billion. TE Connectivity had a net margin of 22.94% and a return on equity of 18.33%. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period last year, the business earned $1.43 EPS. On average, equities research analysts expect that TE Connectivity Ltd will post 5.5 EPS for the current year.
TEL has been the topic of several analyst reports. HC Wainwright reaffirmed a “buy” rating on shares of Ballard Power Systems in a research note on Friday, May 3rd. Longbow Research downgraded shares of TE Connectivity from a “buy” rating to a “neutral” rating and set a $90.66 price target on the stock. in a research note on Monday, June 17th. Wells Fargo & Co reaffirmed a “buy” rating and set a $125.00 price target on shares of Tractor Supply in a research note on Thursday. Goldman Sachs Group set a €6.20 ($7.21) price target on shares of Kloeckner & Co SE and gave the stock a “buy” rating in a research note on Thursday, June 20th. Finally, Cross Research downgraded shares of TE Connectivity from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $92.21.
TE Connectivity Profile
TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors 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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