Creative Planning Acquires 1,204 Shares of TE Connectivity Ltd. (NYSE:TEL)
Creative Planning increased its position in TE Connectivity Ltd. (NYSE:TEL) by 6.3% during the second quarter, Holdings Channel reports. The fund owned 20,372 shares of the electronics maker’s stock after buying an additional 1,204 shares during the period. Creative Planning’s holdings in TE Connectivity were worth $1,603,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in TEL. GSA Capital Partners LLP boosted its stake in TE Connectivity by 41.5% in the fourth quarter. GSA Capital Partners LLP now owns 7,005 shares of the electronics maker’s stock worth $485,000 after buying an additional 2,056 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in TE Connectivity by 5.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 12,470 shares of the electronics maker’s stock worth $864,000 after buying an additional 680 shares during the last quarter. Dodge & Cox bought a new stake in TE Connectivity during the fourth quarter worth $1,913,073,000. USA Financial Portformulas Corp bought a new stake in TE Connectivity during the fourth quarter worth $477,000. Finally, Kentucky Retirement Systems bought a new stake in TE Connectivity during the fourth quarter worth $1,786,000. 90.73% of the stock is currently owned by institutional investors.
TE Connectivity Ltd. (TEL) opened at 81.49 on Monday. The stock has a market capitalization of $28.93 billion, a price-to-earnings ratio of 14.00 and a beta of 1.06. TE Connectivity Ltd. has a 12 month low of $57.85 and a 12 month high of $81.86. The stock’s 50 day moving average is $78.00 and its 200-day moving average is $74.56.
TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, April 26th. The electronics maker reported $1.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.11. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.10 billion. TE Connectivity had a return on equity of 19.65% and a net margin of 16.40%. The business’s revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.90 EPS. On average, equities research analysts expect that TE Connectivity Ltd. will post $4.65 earnings per share for the current year.
A number of analysts have weighed in on TEL shares. Cowen and Company started coverage on shares of TE Connectivity in a report on Tuesday, March 21st. They set an “outperform” rating and a $90.00 price objective on the stock. Royal Bank Of Canada reissued an “outperform” rating and set a $82.00 price objective on shares of TE Connectivity in a report on Tuesday, March 28th. Deutsche Bank AG raised their price objective on shares of TE Connectivity from $75.00 to $82.00 and gave the stock a “hold” rating in a report on Friday, April 28th. Morgan Stanley raised their price objective on shares of TE Connectivity from $85.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, April 28th. Finally, Zacks Investment Research cut shares of TE Connectivity from a “buy” rating to a “hold” rating in a report on Thursday, May 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $83.43.
In related news, insider Thomas J. Lynch sold 131,875 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $76.85, for a total transaction of $10,134,593.75. Following the sale, the insider now directly owns 450,694 shares of the company’s stock, valued at approximately $34,635,833.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP John S. Jenkins sold 14,000 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $75.70, for a total value of $1,059,800.00. Following the sale, the executive vice president now directly owns 8,823 shares in the company, valued at $667,901.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 514,184 shares of company stock worth $40,256,534. Corporate insiders own 1.49% of the company’s stock.
About TE Connectivity
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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