TE Connectivity Ltd. (TEL) Shares Sold by Whittier Trust Co.
Whittier Trust Co. cut its stake in TE Connectivity Ltd. (NYSE:TEL) by 27.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,717 shares of the company’s stock after selling 1,828 shares during the period. Whittier Trust Co.’s holdings in TE Connectivity were worth $304,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in TEL. LSV Asset Management boosted its stake in shares of TE Connectivity by 2,139.2% in the third quarter. LSV Asset Management now owns 2,203,350 shares of the company’s stock valued at $141,851,000 after buying an additional 2,104,950 shares during the last quarter. Boston Partners boosted its stake in shares of TE Connectivity by 21.5% in the third quarter. Boston Partners now owns 10,886,199 shares of the company’s stock valued at $700,854,000 after buying an additional 1,922,737 shares in the last quarter. Factory Mutual Insurance Co. acquired a new stake in shares of TE Connectivity during the third quarter valued at about $59,141,000. Alliancebernstein L.P. boosted its stake in shares of TE Connectivity by 132.0% in the second quarter. Alliancebernstein L.P. now owns 1,109,587 shares of the company’s stock valued at $63,369,000 after buying an additional 631,412 shares in the last quarter. Finally, Raymond James & Associates boosted its stake in shares of TE Connectivity by 57.7% in the second quarter. Raymond James & Associates now owns 1,304,428 shares of the company’s stock valued at $74,496,000 after buying an additional 477,278 shares in the last quarter. Institutional investors and hedge funds own 89.95% of the company’s stock.
Shares of TE Connectivity Ltd. (NYSE:TEL) traded up 0.67% during trading on Friday, reaching $69.61. 931,765 shares of the company traded hands. The firm has a 50 day moving average of $69.35 and a 200 day moving average of $63.83. TE Connectivity Ltd. has a 52 week low of $51.70 and a 52 week high of $71.87. The stock has a market capitalization of $24.74 billion, a PE ratio of 12.79 and a beta of 1.19.
TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, November 2nd. The company reported $1.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.07. TE Connectivity had a net margin of 16.42% and a return on equity of 18.39%. The business had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.62 billion. During the same quarter last year, the business earned $0.90 earnings per share. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, equities analysts predict that TE Connectivity Ltd. will post $4.35 EPS for the current year.
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Several analysts have recently issued reports on the stock. Longbow Research upgraded shares of TE Connectivity from a “neutral” rating to a “buy” rating in a research report on Thursday. RBC Capital Markets restated an “outperform” rating and set a $66.00 target price (up from $65.00) on shares of TE Connectivity in a research report on Thursday, November 3rd. Royal Bank Of Canada upped their target price on shares of TE Connectivity from $65.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, November 3rd. Zacks Investment Research cut shares of TE Connectivity from a “hold” rating to a “sell” rating in a research report on Monday, October 31st. Finally, Morgan Stanley restated a “buy” rating on shares of TE Connectivity in a research report on Tuesday, September 20th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $65.25.
In other news, COO Joseph B. Donahue sold 32,188 shares of TE Connectivity stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $66.90, for a total value of $2,153,377.20. Following the sale, the chief operating officer now owns 43,694 shares in the company, valued at $2,923,128.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Thomas J. Lynch sold 123,633 shares of TE Connectivity stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $63.07, for a total transaction of $7,797,533.31. Following the completion of the sale, the chief executive officer now owns 507,812 shares in the company, valued at approximately $32,027,702.84. The disclosure for this sale can be found here. 1.49% of the stock is currently owned by insiders.
TE Connectivity Company Profile
TE Connectivity Ltd. is a technology company, which designs and manufactures connectivity and sensors solutions. The Company operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Company’s segments manufacture and distribute its products and solutions to a range of end markets.
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