First National Trust Co Invests $207,000 in TE Connectivity Ltd (TEL)

First National Trust Co purchased a new stake in shares of TE Connectivity Ltd (NYSE:TEL) during the first quarter, HoldingsChannel.com reports. The institutional investor purchased 2,556 shares of the electronics maker’s stock, valued at approximately $207,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank bought a new position in TE Connectivity during the fourth quarter valued at about $280,716,000. Oregon Public Employees Retirement Fund boosted its stake in TE Connectivity by 7,370.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,870,688 shares of the electronics maker’s stock valued at $38,000 after buying an additional 2,832,263 shares in the last quarter. Nordea Investment Management AB bought a new position in TE Connectivity during the third quarter valued at about $217,202,000. Two Sigma Advisers LP boosted its stake in TE Connectivity by 768.9% during the fourth quarter. Two Sigma Advisers LP now owns 1,984,704 shares of the electronics maker’s stock valued at $150,103,000 after buying an additional 1,756,300 shares in the last quarter. Finally, FMR LLC boosted its stake in TE Connectivity by 23.5% during the fourth quarter. FMR LLC now owns 6,558,221 shares of the electronics maker’s stock valued at $495,997,000 after buying an additional 1,248,798 shares in the last quarter. 91.36% of the stock is currently owned by institutional investors.

Shares of TEL stock opened at $94.51 on Monday. TE Connectivity Ltd has a fifty-two week low of $69.84 and a fifty-two week high of $99.52. The stock has a market cap of $32.03 billion, a P/E ratio of 16.85, a PEG ratio of 1.57 and a beta of 1.03. The company has a quick ratio of 0.98, a current ratio of 1.41 and a debt-to-equity ratio of 0.34.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.15. TE Connectivity had a return on equity of 18.78% and a net margin of 20.17%. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.36 billion. During the same quarter last year, the company posted $1.42 EPS. TE Connectivity’s revenue for the quarter was down 4.2% on a year-over-year basis. As a group, sell-side analysts predict that TE Connectivity Ltd will post 5.61 EPS for the current fiscal year.

In related news, SVP Eric Resch sold 34,050 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $82.70, for a total value of $2,815,935.00. Following the completion of the transaction, the senior vice president now owns 68,790 shares in the company, valued at approximately $5,688,933. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Heath A. Mitts sold 12,908 shares of the stock in a transaction on Wednesday, February 6th. The shares were sold at an average price of $83.05, for a total value of $1,072,009.40. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.

Several research analysts recently weighed in on the company. Zacks Investment Research cut TE Connectivity from a “hold” rating to a “sell” rating in a research note on Wednesday, April 24th. ValuEngine raised TE Connectivity from a “sell” rating to a “hold” rating in a research note on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $94.14.

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About TE Connectivity

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

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Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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