Comerica Bank Decreases Position in TE Connectivity Ltd. (TEL)

Comerica Bank reduced its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 2.5% during the fourth quarter, Holdings Channel reports. The fund owned 377,284 shares of the company’s stock after selling 9,795 shares during the period. Comerica Bank owned about 0.11% of TE Connectivity worth $26,262,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Mycio Wealth Partners LLC increased its position in TE Connectivity by 0.5% in the second quarter. Mycio Wealth Partners LLC now owns 5,558 shares of the company’s stock valued at $317,000 after buying an additional 29 shares during the last quarter. Rothschild Investment Corp IL increased its position in TE Connectivity by 0.3% in the third quarter. Rothschild Investment Corp IL now owns 10,989 shares of the company’s stock valued at $707,000 after buying an additional 38 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in TE Connectivity by 0.8% in the third quarter. Oppenheimer & Co. Inc. now owns 7,225 shares of the company’s stock valued at $465,000 after buying an additional 60 shares during the last quarter. SOL Capital Management CO increased its position in TE Connectivity by 0.4% in the second quarter. SOL Capital Management CO now owns 15,739 shares of the company’s stock valued at $899,000 after buying an additional 64 shares during the last quarter. Finally, Bahl & Gaynor Inc. increased its position in TE Connectivity by 1.3% in the third quarter. Bahl & Gaynor Inc. now owns 6,559 shares of the company’s stock valued at $423,000 after buying an additional 87 shares during the last quarter. 91.15% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of TE Connectivity Ltd. (NYSE:TEL) traded down 0.27% during midday trading on Friday, reaching $75.11. The company’s stock had a trading volume of 1,914,501 shares. The stock has a market capitalization of $26.69 billion, a price-to-earnings ratio of 13.14 and a beta of 1.16. The company has a 50 day moving average of $71.55 and a 200-day moving average of $65.86. TE Connectivity Ltd. has a 52 week low of $54.54 and a 52 week high of $76.49.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, January 25th. The company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.15. TE Connectivity had a net margin of 16.56% and a return on equity of 19.26%. The firm earned $3.10 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same period in the previous year, the company earned $0.84 earnings per share. TE Connectivity’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities research analysts predict that TE Connectivity Ltd. will post $4.43 earnings per share for the current year.

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Several equities analysts recently issued reports on the company. Goldman Sachs Group, Inc. (The) downgraded TE Connectivity from a “neutral” rating to a “sell” rating and upped their target price for the company from $63.00 to $64.00 in a research report on Wednesday, January 4th. RBC Capital Markets reissued an “outperform” rating and issued a $66.00 target price (up from $65.00) on shares of TE Connectivity in a research report on Thursday, November 3rd. Longbow Research raised TE Connectivity from a “neutral” rating to a “buy” rating in a research report on Thursday, January 12th. Royal Bank Of Canada upped their target price on TE Connectivity from $65.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, November 3rd. Finally, Stifel Nicolaus increased their price target on TE Connectivity from $75.00 to $81.00 and gave the stock a “buy” rating in a research report on Thursday, January 26th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $68.40.

In related news, SVP Mario Calastri sold 17,600 shares of the business’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 46,678 shares of the company’s stock, valued at $3,484,512.70. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider James O’toole sold 32,688 shares of the business’s stock in a transaction on Monday, January 30th. The shares were sold at an average price of $73.40, for a total transaction of $2,399,299.20. Following the completion of the sale, the insider now directly owns 32,688 shares of the company’s stock, valued at $2,399,299.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 591,010 shares of company stock valued at $41,126,314. 1.30% of the stock is owned by corporate insiders.

TE Connectivity Company Profile

TE Connectivity Ltd. is a technology company, which designs and manufactures connectivity and sensors solutions. The Company operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Company’s segments manufacture and distribute its products and solutions to a range of end markets.

5 Day Chart for NYSE:TEL

Want to see what other hedge funds are holding TEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TE Connectivity Ltd. (NYSE:TEL).

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