Clearbridge Investments LLC reduced its position in TE Connectivity Ltd. (NYSE:TEL) by 0.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,539,477 shares of the electronics maker’s stock after selling 55,505 shares during the period. TE Connectivity comprises 1.2% of Clearbridge Investments LLC’s holdings, making the stock its 12th largest position. Clearbridge Investments LLC owned 4.38% of TE Connectivity worth $1,158,468,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Dodge & Cox bought a new stake in TE Connectivity during the fourth quarter valued at $1,913,073,000. Vanguard Group Inc. raised its stake in shares of TE Connectivity by 3.6% in the first quarter. Vanguard Group Inc. now owns 22,790,216 shares of the electronics maker’s stock worth $1,699,010,000 after buying an additional 796,516 shares during the period. BlackRock Inc. raised its stake in shares of TE Connectivity by 1,777.1% in the first quarter. BlackRock Inc. now owns 17,203,935 shares of the electronics maker’s stock worth $1,282,551,000 after buying an additional 16,287,414 shares during the period. State Street Corp raised its stake in shares of TE Connectivity by 3.6% in the first quarter. State Street Corp now owns 13,850,157 shares of the electronics maker’s stock worth $1,032,534,000 after buying an additional 486,340 shares during the period. Finally, Boston Partners raised its stake in shares of TE Connectivity by 1.6% in the first quarter. Boston Partners now owns 11,779,206 shares of the electronics maker’s stock worth $878,140,000 after buying an additional 187,835 shares during the period. Institutional investors own 90.90% of the company’s stock.
Shares of TE Connectivity Ltd. (TEL) traded up 1.64% during mid-day trading on Friday, reaching $81.89. The company had a trading volume of 2,041,961 shares. TE Connectivity Ltd. has a 1-year low of $57.85 and a 1-year high of $85.20. The stock has a market capitalization of $28.94 billion, a price-to-earnings ratio of 17.39 and a beta of 1.06. The firm has a 50-day moving average price of $79.92 and a 200-day moving average price of $76.09.
TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, July 26th. The electronics maker reported $1.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.07. TE Connectivity had a return on equity of 19.76% and a net margin of 12.98%. The business had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.28 billion. During the same period in the previous year, the firm posted $1.08 earnings per share. The company’s revenue was up 7.9% on a year-over-year basis. Equities analysts expect that TE Connectivity Ltd. will post $4.73 earnings per share for the current year.
Several research firms have recently issued reports on TEL. Morgan Stanley upped their target price on shares of TE Connectivity from $85.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, April 28th. Royal Bank Of Canada reissued an “outperform” rating and issued a $86.00 price target on shares of TE Connectivity in a report on Tuesday, June 6th. Zacks Investment Research downgraded shares of TE Connectivity from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. Cowen and Company reaffirmed an “outperform” rating and set a $95.00 price objective (up from $90.00) on shares of TE Connectivity in a report on Monday, June 5th. Finally, BidaskClub downgraded shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $83.43.
In other TE Connectivity news, COO Joseph B. Donahue sold 6,600 shares of TE Connectivity stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $75.57, for a total transaction of $498,762.00. Following the completion of the sale, the chief operating officer now directly owns 40,909 shares of the company’s stock, valued at approximately $3,091,493.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas J. Lynch sold 131,875 shares of the business’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $79.58, for a total value of $10,494,612.50. Following the completion of the sale, the insider now directly owns 450,694 shares of the company’s stock, valued at $35,866,228.52. The disclosure for this sale can be found here. Insiders have sold a total of 514,184 shares of company stock valued at $40,256,534 over the last three months. 1.30% of the stock is currently owned by 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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