Port Capital LLC lifted its position in shares of TE Connectivity Ltd (NYSE:TEL) by 249.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 104,290 shares of the electronics maker’s stock after purchasing an additional 74,454 shares during the period. Port Capital LLC’s holdings in TE Connectivity were worth $9,392,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of TEL. Renaissance Technologies LLC boosted its holdings in shares of TE Connectivity by 75.6% during the fourth quarter. Renaissance Technologies LLC now owns 296,400 shares of the electronics maker’s stock worth $28,170,000 after purchasing an additional 127,600 shares during the period. Profund Advisors LLC boosted its holdings in shares of TE Connectivity by 32.0% during the fourth quarter. Profund Advisors LLC now owns 12,152 shares of the electronics maker’s stock worth $1,155,000 after purchasing an additional 2,945 shares during the period. Thrivent Financial For Lutherans boosted its holdings in shares of TE Connectivity by 771.5% during the fourth quarter. Thrivent Financial For Lutherans now owns 122,706 shares of the electronics maker’s stock worth $11,662,000 after purchasing an additional 108,626 shares during the period. Advisor Group Inc. boosted its holdings in shares of TE Connectivity by 15.3% during the fourth quarter. Advisor Group Inc. now owns 20,787 shares of the electronics maker’s stock worth $1,975,000 after purchasing an additional 2,764 shares during the period. Finally, Robecosam AG boosted its holdings in shares of TE Connectivity by 87.7% during the fourth quarter. Robecosam AG now owns 3,517 shares of the electronics maker’s stock worth $335,000 after purchasing an additional 1,643 shares during the period. Institutional investors own 90.11% of the company’s stock.
In other TE Connectivity news, SVP Tim Murphy sold 17,100 shares of the firm’s stock in a transaction that occurred on Monday, May 21st. The shares were sold at an average price of $96.20, for a total transaction of $1,645,020.00. Following the completion of the transaction, the senior vice president now owns 14,652 shares of the company’s stock, valued at $1,409,522.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is currently owned by company insiders.
TEL has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $113.00 price objective for the company in a report on Friday, March 23rd. Oppenheimer initiated coverage on shares of TE Connectivity in a report on Monday, March 26th. They issued an “outperform” rating and a $120.00 price objective for the company. Robert W. Baird restated a “buy” rating and issued a $123.00 price objective on shares of TE Connectivity in a report on Tuesday, April 17th. Goldman Sachs Group upgraded shares of TE Connectivity from a “sell” rating to a “neutral” rating and set a $101.00 price objective for the company in a report on Wednesday, April 18th. Finally, Morgan Stanley raised their price objective on shares of TE Connectivity from $111.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, April 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $113.45.
TEL traded down $2.30 on Wednesday, hitting $91.24. The company had a trading volume of 987,600 shares, compared to its average volume of 1,729,304. TE Connectivity Ltd has a 52-week low of $77.15 and a 52-week high of $108.23. The firm has a market capitalization of $32.48 billion, a PE ratio of 19.05, a price-to-earnings-growth ratio of 1.52 and a beta of 1.10. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.43 and a quick ratio of 0.94.
TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, April 25th. The electronics maker reported $1.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.06. TE Connectivity had a net margin of 9.39% and a return on equity of 19.89%. The business had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter last year, the firm earned $1.19 earnings per share. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. analysts expect that TE Connectivity Ltd will post 5.57 EPS for the current fiscal year.
TE Connectivity Profile
TE Connectivity Ltd., together with its subsidiaries, engages in the design, manufacture, and sale of connectivity and sensors solutions in the Americas, Europe, the Middle East, Africa, and the Asia?Pacific. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.
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