Orrstown Financial Services Inc. Has $162,000 Stake in TE Connectivity Ltd (TEL)

Orrstown Financial Services Inc. decreased its position in shares of TE Connectivity Ltd (NYSE:TEL) by 30.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,704 shares of the electronics maker’s stock after selling 731 shares during the quarter. Orrstown Financial Services Inc.’s holdings in TE Connectivity were worth $162,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of TEL. Vanguard Group Inc. grew its stake in TE Connectivity by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 23,312,100 shares of the electronics maker’s stock valued at $1,834,196,000 after acquiring an additional 521,884 shares during the period. Boston Partners grew its stake in TE Connectivity by 8.1% in the 3rd quarter. Boston Partners now owns 12,428,336 shares of the electronics maker’s stock valued at $1,032,298,000 after acquiring an additional 934,796 shares during the period. Janus Henderson Group PLC grew its stake in TE Connectivity by 17.7% in the 3rd quarter. Janus Henderson Group PLC now owns 8,247,518 shares of the electronics maker’s stock valued at $685,033,000 after acquiring an additional 1,239,920 shares during the period. FMR LLC grew its stake in TE Connectivity by 9.7% in the 2nd quarter. FMR LLC now owns 5,339,755 shares of the electronics maker’s stock valued at $420,131,000 after acquiring an additional 472,037 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in TE Connectivity by 3.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,516,169 shares of the electronics maker’s stock valued at $197,962,000 after acquiring an additional 77,649 shares during the period. 90.16% of the stock is currently owned by institutional investors and hedge funds.

In other news, SVP Mario Calastri sold 8,539 shares of TE Connectivity stock in a transaction on Monday, November 6th. The stock was sold at an average price of $93.27, for a total transaction of $796,432.53. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Heath A. Mitts sold 10,736 shares of TE Connectivity stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $93.14, for a total value of $999,951.04. The disclosure for this sale can be found here. Insiders sold a total of 705,373 shares of company stock worth $65,870,755 in the last 90 days. 1.49% of the stock is currently owned by insiders.

Shares of TE Connectivity Ltd (TEL) traded down $0.06 during mid-day trading on Tuesday, reaching $100.11. The company’s stock had a trading volume of 1,908,528 shares, compared to its average volume of 1,745,490. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 0.37. The stock has a market cap of $35,223.50, a price-to-earnings ratio of 21.25, a P/E/G ratio of 1.74 and a beta of 1.08. TE Connectivity Ltd has a 12 month low of $68.82 and a 12 month high of $101.00.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.09. The company had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.28 billion. TE Connectivity had a return on equity of 18.97% and a net margin of 12.84%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.22 EPS. equities research analysts predict that TE Connectivity Ltd will post 5.27 earnings per share for the current year.

TE Connectivity declared that its board has approved a stock repurchase program on Friday, December 8th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the electronics maker to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

TEL has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research note on Monday, September 18th. Morgan Stanley reissued an “overweight” rating and issued a $89.00 price target on shares of TE Connectivity in a research note on Wednesday, September 20th. Stifel Nicolaus reissued a “buy” rating and issued a $87.00 price target on shares of TE Connectivity in a research note on Tuesday, October 17th. Royal Bank of Canada reissued a “buy” rating and issued a $95.00 price target (up previously from $90.00) on shares of TE Connectivity in a research note on Monday, October 30th. Finally, SunTrust Banks lifted their price target on shares of TE Connectivity to $90.00 and gave the company a “hold” rating in a research note on Thursday, November 2nd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $159.31.

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About TE Connectivity

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.

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

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