Integrated Wealth Concepts LLC decreased its stake in TE Connectivity Ltd. (NYSE:TEL – Get Rating) by 15.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,921 shares of the electronics maker’s stock after selling 360 shares during the period. Integrated Wealth Concepts LLC’s holdings in TE Connectivity were worth $217,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the stock. Kentucky Retirement Systems Insurance Trust Fund grew its holdings in shares of TE Connectivity by 14.5% in the 2nd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 11,007 shares of the electronics maker’s stock valued at $1,245,000 after acquiring an additional 1,397 shares in the last quarter. Kentucky Retirement Systems lifted its stake in TE Connectivity by 15.2% in the 2nd quarter. Kentucky Retirement Systems now owns 23,911 shares of the electronics maker’s stock valued at $2,706,000 after purchasing an additional 3,159 shares during the last quarter. Texas Permanent School Fund lifted its stake in TE Connectivity by 0.8% in the 2nd quarter. Texas Permanent School Fund now owns 42,554 shares of the electronics maker’s stock valued at $4,815,000 after purchasing an additional 324 shares during the last quarter. State of Michigan Retirement System lifted its stake in TE Connectivity by 3.1% in the 2nd quarter. State of Michigan Retirement System now owns 98,323 shares of the electronics maker’s stock valued at $11,125,000 after purchasing an additional 3,000 shares during the last quarter. Finally, ING Groep NV lifted its stake in TE Connectivity by 16.8% in the 2nd quarter. ING Groep NV now owns 61,697 shares of the electronics maker’s stock valued at $6,981,000 after purchasing an additional 8,895 shares during the last quarter. Institutional investors own 90.61% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on TEL shares. StockNews.com upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating in a research report on Tuesday, November 8th. Bank of America cut their price objective on shares of TE Connectivity from $146.00 to $140.00 in a research report on Wednesday, November 2nd. JPMorgan Chase & Co. cut their price objective on shares of TE Connectivity from $145.00 to $135.00 and set a “neutral” rating for the company in a research report on Thursday, November 3rd. Finally, Royal Bank of Canada cut their price objective on shares of TE Connectivity from $147.00 to $138.00 and set an “outperform” rating for the company in a research report on Thursday, November 3rd. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $136.63.
Insider Activity at TE Connectivity
In related news, Director Terrence R. Curtin sold 21,929 shares of TE Connectivity stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $131.75, for a total value of $2,889,145.75. Following the transaction, the director now directly owns 54,969 shares of the company’s stock, valued at $7,242,165.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Terrence R. Curtin sold 21,929 shares of TE Connectivity stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $131.75, for a total value of $2,889,145.75. Following the transaction, the director now directly owns 54,969 shares of the company’s stock, valued at $7,242,165.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Terrence R. Curtin sold 3,000 shares of TE Connectivity stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $131.85, for a total transaction of $395,550.00. Following the completion of the transaction, the director now directly owns 54,969 shares in the company, valued at $7,247,662.65. The disclosure for this sale can be found here. Insiders have sold 28,929 shares of company stock valued at $3,809,216 over the last three months. 0.73% of the stock is owned by insiders.
TE Connectivity Stock Up 2.0 %
Shares of TEL opened at $127.03 on Wednesday. TE Connectivity Ltd. has a 12 month low of $104.76 and a 12 month high of $166.44. The firm’s 50 day moving average is $117.94 and its 200-day moving average is $122.16. The stock has a market capitalization of $40.63 billion, a PE ratio of 17.01, a P/E/G ratio of 2.49 and a beta of 1.31. The company has a current ratio of 1.57, a quick ratio of 0.99 and a debt-to-equity ratio of 0.30.
TE Connectivity (NYSE:TEL – Get Rating) last announced its earnings results on Wednesday, November 2nd. The electronics maker reported $1.88 EPS for the quarter, topping the consensus estimate of $1.87 by $0.01. The company had revenue of $4.36 billion for the quarter, compared to analysts’ expectations of $4.22 billion. TE Connectivity had a net margin of 14.91% and a return on equity of 22.31%. Equities research analysts forecast that TE Connectivity Ltd. will post 6.96 EPS for the current year.
About TE Connectivity
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TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the Asia-Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.
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