Armor Investment Advisors LLC Acquires Shares of 2,500 TE Connectivity Ltd. (TEL)
Armor Investment Advisors LLC acquired a new stake in TE Connectivity Ltd. (NYSE:TEL) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,500 shares of the electronics maker’s stock, valued at approximately $208,000.
Several other hedge funds have also recently added to or reduced their stakes in TEL. Renaissance Technologies LLC bought a new position in shares of TE Connectivity in the first quarter valued at approximately $3,601,000. First Command Bank lifted its position in TE Connectivity by 19.6% during the second quarter. First Command Bank now owns 1,348 shares of the electronics maker’s stock valued at $106,000 after purchasing an additional 221 shares during the last quarter. Fox Run Management L.L.C. lifted its position in TE Connectivity by 62.1% during the second quarter. Fox Run Management L.L.C. now owns 4,600 shares of the electronics maker’s stock valued at $362,000 after purchasing an additional 1,763 shares during the last quarter. Fulton Bank N.A. lifted its position in TE Connectivity by 22.0% during the second quarter. Fulton Bank N.A. now owns 7,377 shares of the electronics maker’s stock valued at $581,000 after purchasing an additional 1,331 shares during the last quarter. Finally, Tompkins Financial Corp lifted its position in TE Connectivity by 1.5% during the second quarter. Tompkins Financial Corp now owns 6,480 shares of the electronics maker’s stock valued at $510,000 after purchasing an additional 95 shares during the last quarter. Institutional investors own 90.12% of the company’s stock.
In other news, insider Thomas J. Lynch sold 186,033 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $79.29, for a total transaction of $14,750,556.57. Following the transaction, the insider now directly owns 298,851 shares in the company, valued at approximately $23,695,895.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas J. Lynch sold 130,616 shares of TE Connectivity stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $83.37, for a total transaction of $10,889,455.92. Following the sale, the insider now directly owns 429,499 shares of the company’s stock, valued at approximately $35,807,331.63. The disclosure for this sale can be found here. Insiders sold a total of 447,266 shares of company stock worth $37,564,038 over the last quarter. Company insiders own 1.49% of the company’s stock.
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TEL has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a research report on Monday, September 18th. BidaskClub lowered shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Cowen and Company reiterated a “buy” rating and set a $95.00 target price on shares of TE Connectivity in a research report on Thursday, August 10th. Stifel Nicolaus reiterated a “buy” rating and set a $87.00 target price on shares of TE Connectivity in a research report on Tuesday, October 17th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $95.00 target price (up from $90.00) on shares of TE Connectivity in a research report on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. TE Connectivity presently has an average rating of “Buy” and a consensus price target of $93.50.
TE Connectivity Ltd. (NYSE:TEL) traded up $0.24 during mid-day trading on Tuesday, hitting $92.97. 1,343,572 shares of the company’s stock traded hands, compared to its average volume of 1,160,000. TE Connectivity Ltd. has a 52-week low of $63.32 and a 52-week high of $93.68. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.54 and a quick ratio of 1.07. The stock has a market capitalization of $32,750.00, a P/E ratio of 19.20, a PEG ratio of 1.79 and a beta of 1.06.
TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.09. TE Connectivity had a net margin of 12.84% and a return on equity of 18.97%. The firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same period in the previous year, the business earned $1.22 EPS. The company’s revenue was up 3.7% compared to the same quarter last year. equities analysts forecast that TE Connectivity Ltd. will post 5.27 EPS for the current fiscal year.
TE Connectivity Profile
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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