Forsta AP Fonden Grows Holdings in TE Connectivity Ltd. (TEL)
Forsta AP Fonden grew its holdings in TE Connectivity Ltd. (NYSE:TEL) by 12.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,986 shares of the electronics maker’s stock after purchasing an additional 4,000 shares during the quarter. Forsta AP Fonden’s holdings in TE Connectivity were worth $3,072,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Duncker Streett & Co. Inc. lifted its stake in TE Connectivity by 17.8% in the 2nd quarter. Duncker Streett & Co. Inc. now owns 1,325 shares of the electronics maker’s stock worth $104,000 after purchasing an additional 200 shares in the last quarter. First Command Bank lifted its stake in TE Connectivity by 19.6% in the 2nd quarter. First Command Bank now owns 1,348 shares of the electronics maker’s stock worth $106,000 after purchasing an additional 221 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of TE Connectivity by 38.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,379 shares of the electronics maker’s stock worth $109,000 after buying an additional 384 shares during the last quarter. Acrospire Investment Management LLC acquired a new stake in shares of TE Connectivity during the 2nd quarter worth approximately $126,000. Finally, Harfst & Associates Inc. increased its holdings in shares of TE Connectivity by 46.2% during the 2nd quarter. Harfst & Associates Inc. now owns 1,722 shares of the electronics maker’s stock worth $135,000 after buying an additional 544 shares during the last quarter. 90.12% of the stock is currently owned by institutional investors and hedge funds.
Shares of TE Connectivity Ltd. (NYSE:TEL) opened at $92.73 on Tuesday. TE Connectivity Ltd. has a 1-year low of $62.22 and a 1-year high of $93.68. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.54 and a quick ratio of 1.07. The firm has a market cap of $32,769.31, a P/E ratio of 19.20, a P/E/G ratio of 1.79 and a beta of 1.06.
TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.09. TE Connectivity had a net margin of 12.84% and a return on equity of 18.97%. The firm had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.28 billion. During the same quarter last year, the firm earned $1.22 EPS. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. equities analysts expect that TE Connectivity Ltd. will post 5.27 earnings per share for the current fiscal year.
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In related news, insider Thomas J. Lynch sold 130,616 shares of TE Connectivity stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $83.37, for a total value of $10,889,455.92. Following the completion of the sale, the insider now owns 429,499 shares in the company, valued at approximately $35,807,331.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas J. Lynch sold 130,617 shares of TE Connectivity stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $91.29, for a total transaction of $11,924,025.93. Following the completion of the sale, the insider now owns 429,500 shares of the company’s stock, valued at approximately $39,209,055. The disclosure for this sale can be found here. Insiders sold a total of 447,266 shares of company stock valued at $37,564,038 in the last quarter. 1.49% of the stock is owned by insiders.
A number of analysts have recently issued reports on TEL shares. Stifel Nicolaus restated a “buy” rating and set a $98.00 price target on shares of TE Connectivity in a report on Friday. Zacks Investment Research upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a report on Monday, September 11th. Royal Bank Of Canada cut their price target on shares of TE Connectivity from $100.00 to $95.00 and set an “outperform” rating for the company in a report on Thursday, November 2nd. Robert W. Baird started coverage on shares of TE Connectivity in a report on Friday. They set an “outperform” rating and a $105.00 price target for the company. Finally, SunTrust Banks, Inc. raised their price target on shares of TE Connectivity to $90.00 and gave the stock a “hold” rating in a report on Thursday, November 2nd. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. TE Connectivity has an average rating of “Buy” and an average price target of $93.50.
TE Connectivity 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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