Western Wealth Management LLC trimmed its position in shares of TE Connectivity Ltd. (NYSE:TEL – Get Rating) by 11.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,692 shares of the electronics maker's stock after selling 463 shares during the quarter. Western Wealth Management LLC's holdings in TE Connectivity were worth $420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently bought and sold shares of the company. Tcwp LLC purchased a new position in TE Connectivity during the 1st quarter worth $30,000. DeDora Capital Inc. bought a new stake in shares of TE Connectivity during the 1st quarter worth $31,000. HHM Wealth Advisors LLC raised its stake in shares of TE Connectivity by 155.0% during the 1st quarter. HHM Wealth Advisors LLC now owns 255 shares of the electronics maker's stock worth $33,000 after purchasing an additional 155 shares during the period. Lindbrook Capital LLC raised its stake in shares of TE Connectivity by 79.2% during the 1st quarter. Lindbrook Capital LLC now owns 258 shares of the electronics maker's stock worth $34,000 after purchasing an additional 114 shares during the period. Finally, Bank of New Hampshire bought a new stake in shares of TE Connectivity during the 1st quarter worth $46,000. 90.61% of the stock is owned by hedge funds and other institutional investors.
Get TE Connectivity alerts:TE Connectivity Trading Down 2.3 %
Shares of TEL opened at $112.54 on Friday. The business's 50-day moving average price is $127.28 and its 200-day moving average price is $124.89. TE Connectivity Ltd. has a twelve month low of $107.12 and a twelve month high of $166.44. The stock has a market cap of $35.99 billion, a PE ratio of 14.69, a P/E/G ratio of 1.49 and a beta of 1.32. The company has a quick ratio of 0.90, a current ratio of 1.50 and a debt-to-equity ratio of 0.32.
TE Connectivity (NYSE:TEL – Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The electronics maker reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.11. TE Connectivity had a return on equity of 21.98% and a net margin of 15.97%. The firm had revenue of $4.10 billion for the quarter, compared to analysts' expectations of $3.90 billion. During the same period in the prior year, the business posted $1.79 earnings per share. The company's revenue was up 6.6% on a year-over-year basis. On average, equities analysts forecast that TE Connectivity Ltd. will post 7.3 EPS for the current fiscal year.TE Connectivity announced that its Board of Directors has authorized a stock buyback plan on Friday, June 17th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the electronics maker to reacquire up to 4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.
Insider Transactions at TE Connectivity
In other news, Director Terrence R. Curtin sold 21,929 shares of the business's stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $131.75, for a total transaction of $2,889,145.75. Following the completion of the transaction, the director now 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 can be accessed through the SEC website. In other TE Connectivity news, EVP John S. Jenkins sold 2,990 shares of the company's stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $131.97, for a total value of $394,590.30. Following the completion of the sale, the executive vice president now owns 18,406 shares of the company's stock, valued at $2,429,039.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Terrence R. Curtin sold 21,929 shares of the company's stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $131.75, for a total value of $2,889,145.75. Following the completion of the sale, the director now directly owns 54,969 shares of the company's stock, valued at approximately $7,242,165.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,919 shares of company stock valued at $4,203,806. 0.73% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
TEL has been the topic of a number of recent analyst reports. Morgan Stanley lowered their target price on TE Connectivity from $147.00 to $140.00 and set an "equal weight" rating on the stock in a research note on Friday, June 10th. StockNews.com upgraded TE Connectivity from a "hold" rating to a "buy" rating in a research note on Saturday, September 24th. Cowen lowered their price objective on TE Connectivity from $160.00 to $125.00 and set a "market perform" rating on the stock in a research note on Thursday, June 30th. Cowen lowered their price objective on TE Connectivity from $160.00 to $125.00 and set a "market perform" rating on the stock in a research note on Thursday, June 30th. Finally, JPMorgan Chase & Co. restated a "neutral" rating and issued a $134.00 price objective (down from $166.00) on shares of TE Connectivity in a research note on Thursday, July 14th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, TE Connectivity has a consensus rating of "Hold" and a consensus target price of $148.00.
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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