TE Connectivity Ltd. (NYSE:TEL) Shares Bought by Orrstown Financial Services Inc.
Orrstown Financial Services Inc. increased its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 7.9% during the second quarter, Holdings Channel reports. The fund owned 1,835 shares of the electronics maker’s stock after buying an additional 135 shares during the period. Orrstown Financial Services Inc.’s holdings in TE Connectivity were worth $144,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the stock. First Command Bank raised its stake in TE Connectivity by 19.6% in the second quarter. First Command Bank now owns 1,348 shares of the electronics maker’s stock worth $106,000 after buying an additional 221 shares during the last quarter. Daiwa SB Investments Ltd. bought a new stake in TE Connectivity during the first quarter worth approximately $101,000. Guardian Life Insurance Co. of America raised its stake in TE Connectivity by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,370 shares of the electronics maker’s stock worth $102,000 after buying an additional 9 shares during the last quarter. Portfolio Solutions LLC bought a new stake in TE Connectivity during the first quarter worth approximately $104,000. Finally, Webster Bank N. A. raised its stake in TE Connectivity by 675.0% in the first quarter. Webster Bank N. A. now owns 1,550 shares of the electronics maker’s stock worth $116,000 after buying an additional 1,350 shares during the last quarter. 90.73% of the stock is currently owned by institutional investors and hedge funds.
TE Connectivity Ltd. (NYSE:TEL) traded up 0.13% during trading on Monday, reaching $81.60. The company had a trading volume of 662,602 shares. TE Connectivity Ltd. has a 12 month low of $57.85 and a 12 month high of $81.86. The stock has a 50 day moving average price of $78.00 and a 200 day moving average price of $74.56. The firm has a market capitalization of $28.97 billion, a price-to-earnings ratio of 14.02 and a beta of 1.06.
TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, April 26th. The electronics maker reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.11. TE Connectivity had a return on equity of 19.65% and a net margin of 16.40%. The business had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the previous year, the company posted $0.90 earnings per share. TE Connectivity’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, equities research analysts predict that TE Connectivity Ltd. will post $4.65 earnings per share for the current year.
A number of analysts recently commented on the company. Zacks Investment Research lowered TE Connectivity from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th. Royal Bank Of Canada increased their price objective on TE Connectivity from $86.00 to $87.00 and gave the company an “outperform” rating in a research note on Tuesday, June 27th. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $95.00 price objective (up previously from $90.00) on shares of TE Connectivity in a research note on Monday, June 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $83.43.
In other news, SVP Robert J. Ott sold 12,400 shares of TE Connectivity stock in a transaction on Monday, May 1st. The stock was sold at an average price of $76.79, for a total transaction of $952,196.00. Following the transaction, the senior vice president now owns 23,271 shares in the company, valued at $1,786,980.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas J. Lynch sold 186,034 shares of TE Connectivity stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $78.65, for a total value of $14,631,574.10. Following the transaction, the insider now owns 504,885 shares in the company, valued at approximately $39,709,205.25. The disclosure for this sale can be found here. Insiders have sold 514,184 shares of company stock worth $40,256,534 in the last quarter. 1.49% of the stock is currently owned by corporate 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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