Forsta AP Fonden cut its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 8.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,600 shares of the electronics maker’s stock after selling 5,600 shares during the quarter. Forsta AP Fonden’s holdings in TE Connectivity were worth $8,453,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in TEL. Isthmus Partners LLC acquired a new stake in TE Connectivity during the 2nd quarter worth approximately $41,000. Liberty Wealth Management LLC raised its holdings in shares of TE Connectivity by 13,772.0% in the 2nd quarter. Liberty Wealth Management LLC now owns 6,936 shares of the electronics maker’s stock valued at $51,000 after purchasing an additional 6,886 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of TE Connectivity by 64.2% in the 3rd quarter. Parkside Financial Bank & Trust now owns 399 shares of the electronics maker’s stock valued at $55,000 after purchasing an additional 156 shares in the last quarter. GeoWealth Management LLC acquired a new stake in shares of TE Connectivity in the 2nd quarter valued at $57,000. Finally, Parisi Gray Wealth Management acquired a new stake in shares of TE Connectivity in the 2nd quarter valued at $74,000. Institutional investors own 89.94% of the company’s stock.
TEL has been the topic of a number of analyst reports. Evercore ISI upgraded shares of TE Connectivity from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $160.00 to $180.00 in a report on Wednesday, October 20th. Morgan Stanley raised their price objective on shares of TE Connectivity from $149.00 to $162.00 and gave the company an “equal weight” rating in a report on Wednesday, December 15th. Wolfe Research upgraded shares of TE Connectivity from a “peer perform” rating to an “outperform” rating and raised their price objective for the company from $148.00 to $190.00 in a report on Tuesday, November 9th. Finally, The Goldman Sachs Group raised their price objective on shares of TE Connectivity from $170.00 to $190.00 and gave the company a “buy” rating in a report on Monday, January 10th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, TE Connectivity currently has a consensus rating of “Buy” and an average target price of $158.44.
TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, October 27th. The electronics maker reported $1.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.64 by $0.05. TE Connectivity had a net margin of 15.15% and a return on equity of 21.58%. The company had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period last year, the firm posted $1.16 EPS. TE Connectivity’s revenue for the quarter was up 17.1% on a year-over-year basis. As a group, equities analysts expect that TE Connectivity Ltd. will post 7.02 earnings per share for the current year.
In other news, SVP Robert J. Ott sold 8,737 shares of TE Connectivity stock in a transaction dated Wednesday, November 3rd. The shares were sold at an average price of $153.46, for a total value of $1,340,780.02. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Heath A. Mitts sold 8,698 shares of TE Connectivity stock in a transaction dated Monday, December 27th. The shares were sold at an average price of $159.30, for a total transaction of $1,385,591.40. The disclosure for this sale can be found here. Insiders have sold a total of 41,734 shares of company stock worth $6,567,071 over the last three months. 0.79% of the stock is currently owned by insiders.
TE Connectivity Profile
TE Connectivity Ltd. engages in the design and manufacture of connectivity and sensors solutions. It operates through the following segments: Transportation, Industrial, and Communications Solutions. The Transportation Solutions segment offers products that are used in the automotive, commercial transportation, and sensors markets.
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