Berkshire Asset Management LLC PA cut its stake in TE Connectivity Ltd. (NYSE:TEL) by 1.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 102,090 shares of the electronics maker’s stock after selling 1,896 shares during the period. Berkshire Asset Management LLC PA’s holdings in TE Connectivity were worth $8,480,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Menora Mivtachim Holdings LTD. purchased a new stake in TE Connectivity in the third quarter worth about $26,004,000. Cable Hill Partners LLC lifted its holdings in TE Connectivity by 401.8% in the third quarter. Cable Hill Partners LLC now owns 2,730 shares of the electronics maker’s stock worth $227,000 after buying an additional 2,186 shares during the period. OLD National Bancorp IN lifted its holdings in TE Connectivity by 18.9% in the third quarter. OLD National Bancorp IN now owns 11,826 shares of the electronics maker’s stock worth $982,000 after buying an additional 1,878 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in TE Connectivity in the third quarter worth about $1,459,000. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in TE Connectivity by 31.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 35,025 shares of the electronics maker’s stock worth $2,909,000 after buying an additional 8,393 shares during the period. Institutional investors and hedge funds own 90.33% of the company’s stock.

Several analysts have commented on TEL shares. BidaskClub lowered shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Cowen and Company restated a “buy” rating and issued a $95.00 price objective on shares of TE Connectivity in a report on Thursday, August 10th. Finally, Zacks Investment Research lowered shares of TE Connectivity from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $90.11.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.09. TE Connectivity had a net margin of 12.98% and a return on equity of 19.76%. The firm had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.28 billion. During the same quarter in the prior year, the company earned $1.22 EPS. The company’s revenue was up 3.7% compared to the same quarter last year.

In related news, COO Joseph B. Donahue sold 6,300 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were 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 of the company’s stock, valued at $2,792,946.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas J. Lynch sold 130,616 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $83.37, for a total transaction of $10,889,455.92. Following the sale, the insider now directly owns 429,499 shares of the company’s stock, valued at approximately $35,807,331.63. The disclosure for this sale can be found here. Insiders sold a total of 322,949 shares of company stock valued at $26,148,422 in the last ninety days. Corporate insiders own 1.30% of the company’s stock.

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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.

Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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