Strs Ohio lowered its position in TE Connectivity Ltd. (NYSE:TEL) by 22.7% during the second quarter, Holdings Channel reports. The institutional investor owned 17,706 shares of the company’s stock after selling 5,193 shares during the period. Strs Ohio’s holdings in TE Connectivity were worth $1,011,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Renaissance Technologies LLC boosted its position in shares of TE Connectivity by 253.6% in the first quarter. Renaissance Technologies LLC now owns 213,900 shares of the company’s stock worth $13,245,000 after buying an additional 153,400 shares in the last quarter. Citizens Financial Group Inc RI boosted its stake in TE Connectivity by 0.9% in the first quarter. Citizens Financial Group Inc RI now owns 119,848 shares of the company’s stock valued at $7,421,000 after buying an additional 1,031 shares in the last quarter. HBK Investments L P bought a new stake in TE Connectivity during the first quarter valued at approximately $1,352,000. Grand Jean Capital Management Inc. bought a new stake in TE Connectivity during the first quarter valued at approximately $12,971,000. Finally, Geode Capital Management LLC boosted its stake in TE Connectivity by 4.0% in the first quarter. Geode Capital Management LLC now owns 3,039,688 shares of the company’s stock valued at $187,837,000 after buying an additional 117,281 shares in the last quarter. 91.55% of the stock is currently owned by institutional investors.
TE Connectivity Ltd. (NYSE:TEL) traded down 0.39% on Friday, hitting $61.11. 968,462 shares of the stock traded hands. TE Connectivity Ltd. has a 52 week low of $51.70 and a 52 week high of $67.99. The stock has a 50 day moving average of $63.04 and a 200 day moving average of $60.87. The firm has a market capitalization of $21.73 billion, a PE ratio of 8.92 and a beta of 1.41.
TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, July 20th. The company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.05. TE Connectivity had a net margin of 21.97% and a return on equity of 16.72%. The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same period last year, the firm earned $0.90 earnings per share. The firm’s revenue was up .1% on a year-over-year basis. Equities research analysts anticipate that TE Connectivity Ltd. will post $4.01 earnings per share for the current year.
Several research firms recently commented on TEL. Zacks Investment Research cut shares of TE Connectivity from a “hold” rating to a “sell” rating in a research report on Monday, September 26th. Morgan Stanley reaffirmed a “buy” rating on shares of TE Connectivity in a research report on Tuesday, September 20th. RBC Capital Markets reaffirmed an “outperform” rating and issued a $65.00 price objective (up from $63.00) on shares of TE Connectivity in a research report on Thursday, July 21st. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $66.00 price objective on shares of TE Connectivity in a research report on Friday, June 17th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $64.33.
In other news, CEO Thomas J. Lynch sold 123,635 shares of TE Connectivity stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $62.78, for a total value of $7,761,805.30. Following the completion of the transaction, the chief executive officer now owns 507,776 shares in the company, valued at $31,878,177.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Joseph B. Donahue sold 10,000 shares of TE Connectivity stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $63.78, for a total transaction of $637,800.00. Following the completion of the transaction, the chief operating officer now owns 38,825 shares of the company’s stock, valued at approximately $2,476,258.50. The disclosure for this sale can be found here. Corporate insiders own 1.49% of the company’s stock.
About TE Connectivity
TE Connectivity Ltd. (TE Connectivity) is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates its business through three segments: Transportation Solutions, which offers various products, including terminals and connector systems and components, relays, circuit protection devices, sensors, and application tooling, among others; Industrial Solutions, which include terminals and connector systems and components, heat shrink tubing, relays, wire and cable, and Communications Solutions, which include terminals and connector systems and components, circuit protection devices, antennas, relays and heat shrink tubing.
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