SeaBridge Investment Advisors LLC Sells 2,141 Shares of TE Connectivity Ltd (TEL)
SeaBridge Investment Advisors LLC lowered its stake in TE Connectivity Ltd (NYSE:TEL) by 2.7% during the first quarter, Holdings Channel reports. The institutional investor owned 77,166 shares of the electronics maker’s stock after selling 2,141 shares during the period. TE Connectivity makes up 1.4% of SeaBridge Investment Advisors LLC’s investment portfolio, making the stock its 24th largest position. SeaBridge Investment Advisors LLC’s holdings in TE Connectivity were worth $5,753,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Daiwa SB Investments Ltd. acquired a new stake in TE Connectivity during the first quarter valued at approximately $101,000. Portfolio Solutions LLC purchased a new position in shares of TE Connectivity during the first quarter worth about $104,000. Intellectus Partners LLC purchased a new position in shares of TE Connectivity during the fourth quarter worth about $107,000. Virtus Investment Advisers Inc. purchased a new position in shares of TE Connectivity during the third quarter worth about $105,000. Finally, Orrstown Financial Services Inc. increased its position in shares of TE Connectivity by 19.7% in the first quarter. Orrstown Financial Services Inc. now owns 1,700 shares of the electronics maker’s stock worth $127,000 after buying an additional 280 shares during the period. Institutional investors and hedge funds own 91.08% of the company’s stock.
Shares of TE Connectivity Ltd (NYSE:TEL) traded up 0.43% on Tuesday, hitting $73.08. 1,007,419 shares of the stock were exchanged. The company has a market cap of $25.96 billion, a price-to-earnings ratio of 12.79 and a beta of 1.16. TE Connectivity Ltd has a 52-week low of $54.54 and a 52-week high of $76.77. The company has a 50 day moving average of $74.38 and a 200 day moving average of $70.06.
TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, January 25th. The electronics maker reported $1.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.15. The company had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3 billion. TE Connectivity had a net margin of 16.56% and a return on equity of 19.26%. TE Connectivity’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.84 earnings per share. Equities research analysts forecast that TE Connectivity Ltd will post $4.43 earnings per share for the current year.
A number of research analysts have recently issued reports on the stock. Longbow Research upgraded shares of TE Connectivity from a “neutral” rating to a “buy” rating in a research report on Thursday, January 12th. Cowen and Company assumed coverage on shares of TE Connectivity in a research report on Tuesday, March 21st. They issued an “outperform” rating and a $90.00 price target on the stock. Zacks Investment Research upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a research report on Tuesday, March 14th. Royal Bank of Canada restated an “outperform” rating and issued a $82.00 price target on shares of TE Connectivity in a research report on Tuesday, March 28th. Finally, Stifel Nicolaus boosted their price target on shares of TE Connectivity from $75.00 to $81.00 and gave the stock a “buy” rating in a research report on Thursday, January 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $77.67.
In related news, SVP Mario Calastri sold 17,600 shares of the company’s stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $74.65, for a total value of $1,313,840.00. Following the transaction, the senior vice president now directly owns 46,678 shares in the company, valued at $3,484,512.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Tim Murphy sold 1,752 shares of the company’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $74.46, for a total transaction of $130,453.92. Following the completion of the transaction, the senior vice president now owns 4,084 shares in the company, valued at $304,094.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 596,255 shares of company stock worth $44,499,970. 1.49% of the stock is owned by company 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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