7,700 Shares in TE Connectivity Ltd. (TEL) Purchased by Csenge Advisory Group
Csenge Advisory Group purchased a new stake in TE Connectivity Ltd. (NYSE:TEL) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,700 shares of the electronics maker’s stock, valued at approximately $640,000.
Other hedge funds also recently made changes to their positions in the company. Duncker Streett & Co. Inc. increased its stake in shares of TE Connectivity by 17.8% in the 2nd quarter. Duncker Streett & Co. Inc. now owns 1,325 shares of the electronics maker’s stock valued at $104,000 after acquiring an additional 200 shares during the last quarter. First Command Bank increased its stake in shares of TE Connectivity by 19.6% in the 2nd quarter. First Command Bank now owns 1,348 shares of the electronics maker’s stock valued at $106,000 after acquiring an additional 221 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of TE Connectivity by 38.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,379 shares of the electronics maker’s stock valued at $109,000 after acquiring an additional 384 shares during the last quarter. Acrospire Investment Management LLC bought a new stake in shares of TE Connectivity in the 2nd quarter valued at about $126,000. Finally, Harfst & Associates Inc. increased its stake in shares of TE Connectivity by 46.2% in the 2nd quarter. Harfst & Associates Inc. now owns 1,722 shares of the electronics maker’s stock valued at $135,000 after acquiring an additional 544 shares during the last quarter. 90.33% of the stock is owned by institutional investors.
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TEL has been the subject of a number of recent analyst reports. Zacks Investment Research raised TE Connectivity from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research note on Monday, September 11th. Royal Bank Of Canada decreased their price objective on TE Connectivity from $100.00 to $95.00 and set an “outperform” rating for the company in a research report on Thursday. Stifel Nicolaus reiterated a “buy” rating and issued a $87.00 price objective on shares of TE Connectivity in a research report on Tuesday, October 17th. Robert W. Baird started coverage on TE Connectivity in a research report on Friday. They issued an “outperform” rating and a $105.00 price objective for the company. Finally, SunTrust Banks, Inc. boosted their price objective on TE Connectivity to $90.00 and gave the company a “hold” rating in a research report on Thursday. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $92.40.
TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.09. The business had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.28 billion. TE Connectivity had a return on equity of 18.97% and a net margin of 12.84%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.22 earnings per share.
In other news, COO Joseph B. Donahue sold 6,300 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $80.70, for a total transaction of $508,410.00. Following the completion of the sale, the chief operating officer now owns 34,609 shares in the company, valued at $2,792,946.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Thomas J. Lynch sold 186,033 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $79.29, for a total value of $14,750,556.57. Following the sale, the insider now owns 298,851 shares of the company’s stock, valued at approximately $23,695,895.79. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 453,566 shares of company stock valued at $38,072,448. Corporate insiders own 1.30% of the company’s stock.
TE Connectivity Company Profile
TE Connectivity Ltd. is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Transportation Solutions segment offers connectivity and sensor technologies.
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