TE Connectivity Ltd. (NYSE:TEL) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its holdings in shares of TE Connectivity Ltd. (NYSE:TELGet Rating) by 0.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 68,655 shares of the electronics maker’s stock after selling 525 shares during the quarter. State of Alaska Department of Revenue’s holdings in TE Connectivity were worth $7,767,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. AdvisorNet Financial Inc grew its position in shares of TE Connectivity by 8.4% during the second quarter. AdvisorNet Financial Inc now owns 12,681 shares of the electronics maker’s stock worth $1,435,000 after buying an additional 986 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in shares of TE Connectivity by 6.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 22,915 shares of the electronics maker’s stock worth $2,593,000 after buying an additional 1,347 shares in the last quarter. Moody National Bank Trust Division acquired a new position in shares of TE Connectivity during the second quarter worth about $344,000. J.W. Cole Advisors Inc. acquired a new position in shares of TE Connectivity during the first quarter worth about $59,000. Finally, Verition Fund Management LLC grew its position in shares of TE Connectivity by 371.3% during the first quarter. Verition Fund Management LLC now owns 14,757 shares of the electronics maker’s stock worth $1,933,000 after buying an additional 11,626 shares in the last quarter. 90.61% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Stock Up 0.5 %

TEL stock opened at $123.36 on Tuesday. The company has a market cap of $39.46 billion, a P/E ratio of 16.10, a P/E/G ratio of 1.61 and a beta of 1.32. TE Connectivity Ltd. has a 52 week low of $107.12 and a 52 week high of $166.44. The company’s 50-day moving average price is $127.25 and its 200 day moving average price is $125.62. 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 (NYSE:TELGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The electronics maker reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.11. The firm 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%. The firm’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.79 earnings per share. On average, research analysts expect that TE Connectivity Ltd. will post 7.3 earnings per share for the current fiscal year.

TE Connectivity declared that its board has authorized a share repurchase plan on Friday, June 17th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the electronics maker to reacquire up to 4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $134.00 price objective (down previously from $166.00) on shares of TE Connectivity in a research note on Thursday, July 14th. The Goldman Sachs Group reduced their price objective on TE Connectivity from $169.00 to $160.00 in a research note on Wednesday, June 1st. Morgan Stanley cut their price target on 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. Cowen cut their price target on 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. Finally, Cowen cut their price target on 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. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, TE Connectivity currently has an average rating of “Hold” and an average price target of $148.00.

Insiders Place Their Bets

In other TE Connectivity news, SVP Tim Murphy sold 4,000 shares of TE Connectivity stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $131.13, for a total transaction of $524,520.00. Following the completion of the transaction, the senior vice president now owns 17,754 shares in the company, valued at $2,328,082.02. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other TE Connectivity news, SVP Tim Murphy sold 4,000 shares of TE Connectivity stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $131.13, for a total transaction of $524,520.00. Following the completion of the transaction, the senior vice president now owns 17,754 shares in the company, valued at $2,328,082.02. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Terrence R. Curtin sold 3,000 shares of the business’s 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 of the company’s stock, valued at approximately $7,247,662.65. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,919 shares of company stock worth $4,203,806. Insiders own 0.73% of the company’s stock.

TE Connectivity Company Profile

(Get Rating)

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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Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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