Eastern Bank Invests $268,000 in TE Connectivity Ltd. (NYSE:TEL)

Eastern Bank bought a new stake in shares of TE Connectivity Ltd. (NYSE:TEL) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,775 shares of the electronics maker’s stock, valued at approximately $268,000.

Other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings in TE Connectivity by 54.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker’s stock valued at $2,265,218,000 after buying an additional 5,526,230 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in TE Connectivity by 26.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock valued at $944,791,000 after acquiring an additional 1,304,199 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in TE Connectivity by 238.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 719,354 shares of the electronics maker’s stock worth $108,212,000 after purchasing an additional 506,754 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of TE Connectivity by 43.0% during the 2nd quarter. Bank of Montreal Can now owns 1,155,426 shares of the electronics maker’s stock valued at $174,955,000 after purchasing an additional 347,315 shares during the last quarter. Finally, Toronto Dominion Bank grew its position in shares of TE Connectivity by 141.3% during the second quarter. Toronto Dominion Bank now owns 468,294 shares of the electronics maker’s stock valued at $70,445,000 after purchasing an additional 274,206 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Price Performance

TEL opened at $146.87 on Friday. The business has a fifty day moving average of $148.07 and a 200 day moving average of $148.23. The stock has a market cap of $44.98 billion, a P/E ratio of 13.44, a PEG ratio of 1.89 and a beta of 1.33. The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.23. TE Connectivity Ltd. has a 52-week low of $115.00 and a 52-week high of $159.98.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.05. TE Connectivity had a net margin of 21.94% and a return on equity of 18.53%. The firm had revenue of $4 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period in the previous year, the firm earned $1.77 earnings per share. The business’s revenue was up .1% on a year-over-year basis. As a group, sell-side analysts anticipate that TE Connectivity Ltd. will post 7.56 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on TEL shares. Bank of America decreased their target price on TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Vertical Research assumed coverage on shares of TE Connectivity in a report on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 target price for the company. HSBC lowered shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price objective for the company. in a research report on Wednesday, July 24th. The Goldman Sachs Group reduced their target price on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Finally, Wells Fargo & Company dropped their price target on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a research report on Friday, September 20th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, TE Connectivity presently has an average rating of “Hold” and a consensus target price of $161.82.

Insider Buying and Selling at TE Connectivity

In other news, CFO Heath A. Mitts sold 59,700 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $154.70, for a total transaction of $9,235,590.00. Following the transaction, the chief financial officer now directly owns 38,073 shares of the company’s stock, valued at approximately $5,889,893.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other TE Connectivity news, SVP Robert J. Ott sold 2,913 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total transaction of $450,320.67. Following the transaction, the senior vice president now directly owns 25,504 shares in the company, valued at $3,942,663.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Heath A. Mitts sold 59,700 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $154.70, for a total transaction of $9,235,590.00. Following the completion of the sale, the chief financial officer now directly owns 38,073 shares of the company’s stock, valued at $5,889,893.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.86% of the stock is owned by corporate insiders.

TE Connectivity Company Profile

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