The TE Connectivity Ltd. (TEL) Position Raised by Wells Fargo & Company MN

The TE Connectivity Ltd. (TEL) Position Raised by Wells Fargo & Company MN

Wells Fargo & Company MN boosted its position in TE Connectivity Ltd. (NYSE:TEL) by 1.3% during the third quarter, Holdings Channel reports. The fund owned 1,997,517 shares of the company’s stock after buying an additional 25,948 shares during the period. Wells Fargo & Company MN’s holdings in TE Connectivity were worth $128,600,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. BB&T Corp increased its position in TE Connectivity by 1,159.1% in the second quarter. BB&T Corp now owns 300,055 shares of the company’s stock worth $17,137,000 after buying an additional 276,224 shares during the last quarter. John G Ullman & Associates Inc. boosted its stake in shares of TE Connectivity by 7.3% in the third quarter. John G Ullman & Associates Inc. now owns 137,300 shares of the company’s stock worth $8,839,000 after buying an additional 9,400 shares during the period. Todd Asset Management LLC boosted its stake in shares of TE Connectivity by 29.7% in the second quarter. Todd Asset Management LLC now owns 724,333 shares of the company’s stock worth $41,366,000 after buying an additional 165,815 shares during the period. PGGM Investments boosted its stake in shares of TE Connectivity by 76.3% in the second quarter. PGGM Investments now owns 751,144 shares of the company’s stock worth $42,898,000 after buying an additional 325,170 shares during the period. Finally, Becker Capital Management Inc. boosted its stake in shares of TE Connectivity by 12.2% in the second quarter. Becker Capital Management Inc. now owns 600,422 shares of the company’s stock worth $34,290,000 after buying an additional 65,245 shares during the period. 89.97% of the stock is currently owned by institutional investors and hedge funds.

Shares of TE Connectivity Ltd. (NYSE:TEL) opened at 69.82 on Thursday. The stock has a market capitalization of $24.81 billion, a PE ratio of 12.83 and a beta of 1.19. TE Connectivity Ltd. has a 1-year low of $51.70 and a 1-year high of $71.87. The firm has a 50-day moving average price of $69.51 and a 200-day moving average price of $64.13.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $1.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.07. TE Connectivity had a return on equity of 18.39% and a net margin of 16.42%. The business earned $3.30 billion during the quarter, compared to analysts’ expectations of $3.62 billion. During the same period in the previous year, the firm posted $0.90 earnings per share. The company’s revenue was up 11.7% on a year-over-year basis. On average, equities research analysts forecast that TE Connectivity Ltd. will post $4.35 earnings per share for the current year.

A number of brokerages recently weighed in on TEL. Goldman Sachs Group Inc. cut TE Connectivity from a “neutral” rating to a “sell” rating and upped their price objective for the stock from $63.00 to $64.00 in a research note on Wednesday, January 4th. Zacks Investment Research cut TE Connectivity from a “hold” rating to a “sell” rating in a research note on Monday, September 26th. Royal Bank Of Canada upped their price objective on TE Connectivity from $65.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, November 3rd. Longbow Research upgraded TE Connectivity from a “neutral” rating to a “buy” rating in a research note on Thursday, January 12th. Finally, RBC Capital Markets restated an “outperform” rating and set a $66.00 price objective (up from $65.00) on shares of TE Connectivity in a research note on Thursday, November 3rd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $65.25.

In related news, CEO Thomas J. Lynch sold 123,633 shares of the business’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $63.07, for a total transaction of $7,797,533.31. Following the completion of the transaction, the chief executive officer now directly owns 507,812 shares of the company’s stock, valued at approximately $32,027,702.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Terrence R. Curtin sold 1,184 shares of the business’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $66.53, for a total value of $78,771.52. Following the transaction, the insider now directly owns 42,379 shares of the company’s stock, valued at $2,819,474.87. The disclosure for this sale can be found here. 1.49% of the stock is owned by insiders.

TE Connectivity Company Profile

TE Connectivity Ltd. is a technology company, which designs and manufactures connectivity and sensors solutions. The Company operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Company’s segments manufacture and distribute its products and solutions to a range of end markets.

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