Putnam Investments LLC lowered its position in TE Connectivity Ltd (NYSE:TEL) by 6.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,583 shares of the electronics maker’s stock after selling 500 shares during the period. Putnam Investments LLC’s holdings in TE Connectivity were worth $525,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the company. Intellectus Partners LLC bought a new stake in shares of TE Connectivity during the fourth quarter worth $107,000. Virtus Investment Advisers Inc. bought a new stake in shares of TE Connectivity during the third quarter worth $105,000. Paradigm Asset Management Co. LLC raised its stake in shares of TE Connectivity by 12.9% in the fourth quarter. Paradigm Asset Management Co. LLC now owns 1,750 shares of the electronics maker’s stock worth $121,000 after buying an additional 200 shares during the period. Parallel Advisors LLC bought a new stake in shares of TE Connectivity during the fourth quarter worth $135,000. Finally, Global X Management Co. LLC raised its stake in shares of TE Connectivity by 97.0% in the third quarter. Global X Management Co. LLC now owns 2,098 shares of the electronics maker’s stock worth $135,000 after buying an additional 1,033 shares during the period. 91.08% of the stock is currently owned by institutional investors and hedge funds.
Shares of TE Connectivity Ltd (NYSE:TEL) traded down 0.69% on Friday, hitting $73.61. 2,348,144 shares of the company’s stock were exchanged. The stock has a market cap of $26.15 billion, a price-to-earnings ratio of 12.88 and a beta of 1.16. The company’s 50-day moving average price is $74.23 and its 200 day moving average price is $70.17. TE Connectivity Ltd has a 12-month low of $54.54 and a 12-month high of $76.77.
TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, January 25th. The electronics maker reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.15. The business earned $3.10 billion during the quarter, compared to analyst estimates of $3 billion. TE Connectivity had a net margin of 16.56% and a return on equity of 19.26%. The firm’s revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.84 earnings per share. On average, equities analysts predict that TE Connectivity Ltd will post $4.43 earnings per share for the current fiscal year.
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A number of brokerages have recently weighed in on TEL. Zacks Investment Research raised shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock in a report on Thursday, March 2nd. Stifel Nicolaus upped their price target on shares of TE Connectivity from $75.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, January 26th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $82.00 price target on shares of TE Connectivity in a report on Tuesday, March 28th. Cowen and Company assumed coverage on shares of TE Connectivity in a report on Tuesday, March 21st. They issued an “outperform” rating and a $90.00 price target on the stock. Finally, Goldman Sachs Group Inc lowered shares of TE Connectivity from a “neutral” rating to a “sell” rating and upped their price target for the company from $63.00 to $64.00 in a report on Wednesday, January 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. TE Connectivity currently has a consensus rating of “Buy” and a consensus price target of $77.67.
In related news, CEO Thomas J. Lynch sold 131,875 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $75.93, for a total transaction of $10,013,268.75. Following the transaction, the chief executive officer now owns 318,787 shares of the company’s stock, valued at $24,205,496.91. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Thomas J. Lynch sold 123,633 shares of the firm’s stock in a transaction that occurred on Wednesday, February 1st. The shares were sold at an average price of $74.18, for a total transaction of $9,171,095.94. Following the transaction, the chief executive officer now directly owns 462,420 shares in the company, valued at approximately $34,302,315.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 596,255 shares of company stock worth $44,499,970. Insiders own 1.49% 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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