Orrstown Financial Services Inc. increased its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 7.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,835 shares of the electronics maker’s stock after buying an additional 135 shares during the period. Orrstown Financial Services Inc.’s holdings in TE Connectivity were worth $144,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in TEL. Daiwa SB Investments Ltd. acquired a new position in shares of TE Connectivity during the first quarter valued at $101,000. Guardian Life Insurance Co. of America increased its position in shares of TE Connectivity by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,370 shares of the electronics maker’s stock valued at $102,000 after buying an additional 9 shares during the period. Portfolio Solutions LLC acquired a new position in shares of TE Connectivity during the first quarter valued at $104,000. First Command Bank increased its position in shares of TE Connectivity by 19.6% in the second quarter. First Command Bank now owns 1,348 shares of the electronics maker’s stock valued at $106,000 after buying an additional 221 shares during the period. Finally, Webster Bank N. A. increased its position in shares of TE Connectivity by 675.0% in the first quarter. Webster Bank N. A. now owns 1,550 shares of the electronics maker’s stock valued at $116,000 after buying an additional 1,350 shares during the period. 90.73% of the stock is owned by hedge funds and other institutional investors.
Shares of TE Connectivity Ltd. (NYSE:TEL) traded up 0.13% on Monday, reaching $81.60. The company’s stock had a trading volume of 662,602 shares. The stock has a market capitalization of $28.97 billion, a P/E ratio of 14.02 and a beta of 1.06. The company has a 50 day moving average of $78.00 and a 200 day moving average of $74.56. TE Connectivity Ltd. has a 1-year low of $57.85 and a 1-year high of $81.86.
TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, April 26th. The electronics maker reported $1.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.11. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.10 billion. TE Connectivity had a return on equity of 19.65% and a net margin of 16.40%. TE Connectivity’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.90 earnings per share. Equities research analysts expect that TE Connectivity Ltd. will post $4.65 earnings per share for the current fiscal year.
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TEL has been the topic of a number of analyst reports. Zacks Investment Research raised shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research note on Friday, June 16th. Cowen and Company began coverage on shares of TE Connectivity in a research note on Tuesday, March 21st. They issued an “outperform” rating and a $90.00 price target on the stock. Deutsche Bank AG lifted their price target on shares of TE Connectivity from $75.00 to $82.00 and gave the company a “hold” rating in a research note on Friday, April 28th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $82.00 price target on shares of TE Connectivity in a research note on Tuesday, March 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $83.43.
In other TE Connectivity news, insider Thomas J. Lynch sold 186,034 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $78.65, for a total value of $14,631,574.10. Following the sale, the insider now owns 504,885 shares of the company’s stock, valued at $39,709,205.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Joseph B. Donahue sold 6,600 shares of the company’s stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $75.57, for a total value of $498,762.00. Following the completion of the sale, the chief operating officer now directly owns 40,909 shares in the company, valued at approximately $3,091,493.13. The disclosure for this sale can be found here. Insiders sold 514,184 shares of company stock worth $40,256,534 in the last three months. 1.49% of the stock is owned by corporate insiders.
About TE Connectivity
TE Connectivity Ltd. is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Transportation Solutions segment offers connectivity and sensor technologies.
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