British Airways Pensions Investment Management Ltd purchased a new stake in TE Connectivity Ltd (NYSE:TEL) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 368,875 shares of the electronics maker’s stock, valued at approximately $27,485,000. British Airways Pensions Investment Management Ltd owned approximately 0.10% of TE Connectivity as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the company. Dodge & Cox bought a new position in TE Connectivity during the fourth quarter valued at approximately $1,913,073,000. Norges Bank bought a new position in TE Connectivity during the fourth quarter valued at approximately $248,250,000. Price T Rowe Associates Inc. MD increased its position in TE Connectivity by 24.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 11,936,361 shares of the electronics maker’s stock valued at $768,463,000 after buying an additional 2,348,403 shares in the last quarter. LSV Asset Management increased its position in TE Connectivity by 2,139.2% in the third quarter. LSV Asset Management now owns 2,203,350 shares of the electronics maker’s stock valued at $141,851,000 after buying an additional 2,104,950 shares in the last quarter. Finally, Boston Partners increased its position in TE Connectivity by 21.5% in the third quarter. Boston Partners now owns 10,886,199 shares of the electronics maker’s stock valued at $700,854,000 after buying an additional 1,922,737 shares in the last quarter. 91.08% of the stock is currently owned by hedge funds and other institutional investors.
TE Connectivity Ltd (NYSE:TEL) traded down 0.26% during trading on Friday, hitting $75.45. 1,163,250 shares of the company’s stock traded hands. TE Connectivity Ltd has a 52-week low of $54.54 and a 52-week high of $79.69. The company has a market cap of $26.81 billion, a PE ratio of 12.96 and a beta of 1.16. The company’s 50 day moving average price is $74.47 and its 200 day moving average price is $71.19.
TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, April 26th. The electronics maker reported $1.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.11. TE Connectivity had a return on equity of 19.26% and a net margin of 16.56%. The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same period in the previous year, the business posted $0.90 EPS. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. Analysts expect that TE Connectivity Ltd will post $4.62 earnings per share for the current year.
Several equities analysts have commented on the stock. Deutsche Bank AG upped their price objective on shares of TE Connectivity from $75.00 to $82.00 and gave the company a “hold” rating in a report on Friday, April 28th. Longbow Research upgraded shares of TE Connectivity from a “neutral” rating to a “buy” rating in a report on Thursday, January 12th. Morgan Stanley upped their price objective on shares of TE Connectivity from $85.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, April 28th. Royal Bank of Canada reiterated an “outperform” rating and issued a $86.00 price objective (up from $82.00) on shares of TE Connectivity in a report on Saturday, April 29th. Finally, Zacks Investment Research upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a report on Tuesday, March 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $82.00.
In related news, COO Joseph B. Donahue sold 6,600 shares of the business’s stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $75.57, for a total value of $498,762.00. Following the sale, the chief operating officer now directly owns 40,909 shares in the company, valued at approximately $3,091,493.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Tim Murphy sold 1,752 shares of the business’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $74.46, for a total value of $130,453.92. Following the completion of the sale, the senior vice president now owns 4,084 shares in the company, valued at $304,094.64. The disclosure for this sale can be found here. Insiders sold a total of 573,209 shares of company stock worth $43,201,286 over the last 90 days. 1.49% of the stock is currently owned by company insiders.
TE Connectivity Company Profile
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.
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