Commonwealth Equity Services LLC Reduces Position in TE Connectivity Ltd. (NYSE:TEL)

Commonwealth Equity Services LLC cut its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 5.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,649 shares of the electronics maker’s stock after selling 1,040 shares during the period. Commonwealth Equity Services LLC’s holdings in TE Connectivity were worth $2,956,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Principal Securities Inc. purchased a new stake in TE Connectivity in the 4th quarter valued at about $420,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in TE Connectivity by 5.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 308,342 shares of the electronics maker’s stock valued at $42,283,000 after buying an additional 15,474 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in TE Connectivity by 19.0% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 20,161 shares of the electronics maker’s stock valued at $2,833,000 after buying an additional 3,223 shares during the period. Heartland Advisors Inc. boosted its position in TE Connectivity by 50.3% in the 4th quarter. Heartland Advisors Inc. now owns 55,996 shares of the electronics maker’s stock valued at $7,867,000 after buying an additional 18,747 shares during the period. Finally, Haverford Trust Co lifted its position in shares of TE Connectivity by 35.1% in the 4th quarter. Haverford Trust Co now owns 189,865 shares of the electronics maker’s stock worth $26,676,000 after purchasing an additional 49,279 shares during the period. 91.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Heath A. Mitts sold 59,700 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $154.70, for a total value of $9,235,590.00. Following the sale, the chief financial officer now directly owns 38,073 shares of the company’s stock, valued at approximately $5,889,893.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Heath A. Mitts sold 59,700 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $154.70, for a total value of $9,235,590.00. Following the sale, the chief financial officer now directly owns 38,073 shares of the company’s stock, valued at approximately $5,889,893.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Aaron Kyle Stucki sold 8,750 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $155.00, for a total transaction of $1,356,250.00. Following the completion of the sale, the insider now directly owns 20,556 shares in the company, valued at $3,186,180. The disclosure for this sale can be found here. Insiders have sold 71,363 shares of company stock valued at $11,042,161 in the last ninety days. Insiders own 0.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Bank of America upped their price target on shares of TE Connectivity from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Hsbc Global Res raised shares of TE Connectivity to a “hold” rating in a research report on Wednesday, July 24th. StockNews.com assumed coverage on shares of TE Connectivity in a research report on Thursday, September 5th. They issued a “buy” rating for the company. Robert W. Baird upped their price target on shares of TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Wolfe Research upgraded shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $158.45.

TE Connectivity Trading Up 0.2 %

Shares of TE Connectivity stock opened at $144.24 on Thursday. The company has a current ratio of 1.51, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23. TE Connectivity Ltd. has a 12-month low of $115.00 and a 12-month high of $159.98. The firm has a market capitalization of $43.84 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 1.95 and a beta of 1.33. The firm’s 50 day simple moving average is $150.30 and its two-hundred day simple moving average is $147.26.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.05. TE Connectivity had a net margin of 21.94% and a return on equity of 18.53%. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the prior year, the business posted $1.77 EPS. TE Connectivity’s revenue for the quarter was up .1% compared to the same quarter last year. Analysts predict that TE Connectivity Ltd. will post 7.57 EPS for the current year.

About TE Connectivity

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.