Trade Report: The SOL Capital Management CO Acquires 64 Shares of TE Connectivity Ltd. (TEL)

The SOL Capital Management CO Acquires 64 Shares of TE Connectivity Ltd. (TEL)

SOL Capital Management CO increased its stake in TE Connectivity Ltd. (NYSE:TEL) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,739 shares of the company’s stock after buying an additional 64 shares during the period. SOL Capital Management CO’s holdings in TE Connectivity were worth $899,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in TE Connectivity by 106.7% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,274 shares of the company’s stock valued at $130,000 after buying an additional 1,174 shares during the period. Financial Architects Inc raised its stake in TE Connectivity by 41.9% in the second quarter. Financial Architects Inc now owns 2,416 shares of the company’s stock valued at $138,000 after buying an additional 713 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in TE Connectivity by 0.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,594 shares of the company’s stock valued at $148,000 after buying an additional 19 shares during the period. First Manhattan Co. raised its stake in TE Connectivity by 4.5% in the second quarter. First Manhattan Co. now owns 4,008 shares of the company’s stock valued at $228,000 after buying an additional 171 shares during the period. Finally, BlueMountain Capital Management LLC raised its stake in TE Connectivity by 266.4% in the first quarter. BlueMountain Capital Management LLC now owns 4,078 shares of the company’s stock valued at $253,000 after buying an additional 2,965 shares during the period. 91.55% of the stock is currently owned by hedge funds and other institutional investors.

TE Connectivity Ltd. (NYSE:TEL) traded down 0.39% during trading on Friday, hitting $61.11. The stock had a trading volume of 968,457 shares. TE Connectivity Ltd. has a 12-month low of $51.70 and a 12-month high of $67.99. The stock’s 50 day moving average price is $63.11 and its 200 day moving average price is $60.86. The firm has a market cap of $21.73 billion, a P/E ratio of 8.92 and a beta of 1.41.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $1.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.05. The firm earned $3.12 billion during the quarter, compared to the consensus estimate of $3.13 billion. TE Connectivity had a return on equity of 16.72% and a net margin of 21.97%. The firm’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.90 EPS. On average, analysts anticipate that TE Connectivity Ltd. will post $4.01 EPS for the current fiscal year.

Several analysts have commented on TEL shares. Royal Bank Of Canada reissued a “buy” rating and issued a $66.00 price objective on shares of TE Connectivity in a report on Friday, June 17th. Morgan Stanley reissued a “buy” rating on shares of TE Connectivity in a report on Tuesday, September 20th. Zacks Investment Research raised TE Connectivity from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, RBC Capital Markets reissued an “outperform” rating and issued a $65.00 price objective (up from $63.00) on shares of TE Connectivity in a report on Thursday, July 21st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. TE Connectivity presently has a consensus rating of “Buy” and an average price target of $64.33.

In other TE Connectivity news, CEO Thomas J. Lynch sold 123,635 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $62.78, for a total transaction of $7,761,805.30. Following the transaction, the chief executive officer now owns 507,776 shares in the company, valued at approximately $31,878,177.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert N. Shaddock sold 11,800 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $61.25, for a total value of $722,750.00. Following the transaction, the executive vice president now owns 46,274 shares in the company, valued at approximately $2,834,282.50. The disclosure for this sale can be found here. Company insiders own 1.49% of the company’s stock.

About TE Connectivity

TE Connectivity Ltd. (TE Connectivity) is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates its business through three segments: Transportation Solutions, which offers various products, including terminals and connector systems and components, relays, circuit protection devices, sensors, and application tooling, among others; Industrial Solutions, which include terminals and connector systems and components, heat shrink tubing, relays, wire and cable, and Communications Solutions, which include terminals and connector systems and components, circuit protection devices, antennas, relays and heat shrink tubing.

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