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TE Connectivity Ltd. (NYSE:TEL) Position Trimmed by GAM Holding AG

Financial News Live ·  10/01 20:12

GAM Holding AG trimmed its holdings in shares of TE Connectivity Ltd. (NYSE:TEL – Get Rating) by 0.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 65,384 shares of the electronics maker's stock after selling 168 shares during the period. GAM Holding AG's holdings in TE Connectivity were worth $7,398,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in TEL. Tcwp LLC acquired a new position in TE Connectivity in the 1st quarter worth approximately $30,000. DeDora Capital Inc. acquired a new position in TE Connectivity in the 1st quarter worth approximately $31,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in TE Connectivity by 135.6% in the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 238 shares of the electronics maker's stock worth $27,000 after purchasing an additional 137 shares during the period. HHM Wealth Advisors LLC boosted its stake in TE Connectivity by 155.0% in 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. Finally, Lindbrook Capital LLC boosted its stake in TE Connectivity by 79.2% in 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. 90.61% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

A number of equities analysts recently commented on TEL shares. Cowen decreased their price objective on shares of TE Connectivity from $160.00 to $125.00 and set a "market perform" rating for the company in a research note on Thursday, June 30th. StockNews.com raised shares of TE Connectivity from a "hold" rating to a "buy" rating in a research note on Saturday, September 24th. Cowen decreased their target price on shares of TE Connectivity from $160.00 to $125.00 and set a "market perform" rating for the company in a research note on Thursday, June 30th. Morgan Stanley decreased their target price on shares of TE Connectivity from $147.00 to $140.00 and set an "equal weight" rating for the company in a research note on Friday, June 10th. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and set a $134.00 target price (down previously 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 stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $148.00.

Insider Activity

In other news, Director Terrence R. Curtin sold 3,000 shares of the firm's stock in a transaction 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 transaction, the director now owns 54,969 shares in the company, valued at approximately $7,247,662.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Terrence R. Curtin sold 3,000 shares of TE Connectivity stock in a transaction on Friday, August 26th. The shares were sold at an average price of $131.85, for a total value of $395,550.00. Following the transaction, the director now owns 54,969 shares in the company, valued at approximately $7,247,662.65. 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 21,929 shares of TE Connectivity stock in a transaction on 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 in the company, valued at approximately $7,242,165.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,919 shares of company stock worth $4,203,806. 0.73% of the stock is owned by corporate insiders.

TE Connectivity Stock Down 1.9 %

TE Connectivity stock opened at $110.36 on Friday. The company has a market capitalization of $35.30 billion, a P/E ratio of 14.41, a P/E/G ratio of 1.48 and a beta of 1.32. The firm's fifty day simple moving average is $127.03 and its 200-day simple moving average is $124.78. The company has a current ratio of 1.50, a quick ratio of 0.90 and a debt-to-equity ratio of 0.32. TE Connectivity Ltd. has a 1-year low of $107.12 and a 1-year high of $166.44.

TE Connectivity (NYSE:TEL – Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The electronics maker reported $1.86 earnings per share for the quarter, beating analysts' consensus estimates of $1.75 by $0.11. The business had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $3.90 billion. TE Connectivity had a net margin of 15.97% and a return on equity of 21.98%. TE Connectivity's revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.79 EPS. Sell-side analysts forecast that TE Connectivity Ltd. will post 7.3 earnings per share for the current fiscal year.

TE Connectivity declared that its Board of Directors has approved a stock repurchase program on Friday, June 17th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the electronics maker to buy up to 4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

TE Connectivity Company Profile

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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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