Beaton Management Co. Inc. Buys 204 Shares of TE Connectivity Ltd. (NYSE:TEL)

Beaton Management Co. Inc. lifted its stake in TE Connectivity Ltd. (NYSE:TELGet Rating) by 9.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,436 shares of the electronics maker’s stock after purchasing an additional 204 shares during the period. Beaton Management Co. Inc.’s holdings in TE Connectivity were worth $319,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TEL. Norges Bank bought a new position in TE Connectivity during the fourth quarter worth about $972,351,000. Capital World Investors lifted its holdings in TE Connectivity by 17.0% during the fourth quarter. Capital World Investors now owns 20,649,105 shares of the electronics maker’s stock worth $3,331,527,000 after acquiring an additional 2,994,368 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new position in TE Connectivity during the first quarter worth about $169,458,000. Marshall Wace LLP lifted its holdings in TE Connectivity by 3,976.6% during the fourth quarter. Marshall Wace LLP now owns 989,238 shares of the electronics maker’s stock worth $159,605,000 after acquiring an additional 964,972 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in TE Connectivity by 2,815.1% during the first quarter. Assenagon Asset Management S.A. now owns 978,233 shares of the electronics maker’s stock worth $128,129,000 after acquiring an additional 944,675 shares in the last quarter. 90.61% of the stock is currently owned by institutional investors.

TE Connectivity Price Performance

Shares of NYSE TEL opened at $127.16 on Friday. The business’s 50 day moving average price is $125.59 and its two-hundred day moving average price is $126.37. The company has a market cap of $40.67 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 1.66 and a beta of 1.32. The company has a quick ratio of 0.90, a current ratio of 1.50 and a debt-to-equity ratio of 0.32. TE Connectivity Ltd. has a twelve month low of $107.12 and a twelve month high of $166.44.

TE Connectivity (NYSE:TELGet Rating) last announced its quarterly earnings results on Wednesday, July 27th. The electronics maker reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.11. The firm had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $3.90 billion. TE Connectivity had a return on equity of 21.98% and a net margin of 15.97%. The business’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.79 earnings per share. On average, analysts predict that TE Connectivity Ltd. will post 7.3 EPS for the current year.

TE Connectivity announced that its Board of Directors has initiated a share repurchase program on Friday, June 17th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the electronics maker to buy up to 4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

TEL has been the topic of a number of research reports. JPMorgan Chase & Co. restated a “neutral” rating and issued a $134.00 price target (down from $166.00) on shares of TE Connectivity in a report on Thursday, July 14th. Cowen cut their price target on TE Connectivity from $160.00 to $125.00 and set a “market perform” rating on the stock in a report on Thursday, June 30th. Morgan Stanley cut their price target on TE Connectivity from $147.00 to $140.00 and set an “equal weight” rating on the stock in a report on Friday, June 10th. Cowen cut their price target on TE Connectivity from $160.00 to $125.00 and set a “market perform” rating on the stock in a report on Thursday, June 30th. Finally, The Goldman Sachs Group cut their price target on TE Connectivity from $169.00 to $160.00 in a report on Wednesday, June 1st. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $148.00.

Insiders Place Their Bets

In other TE Connectivity news, EVP John S. Jenkins sold 2,990 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $131.97, for a total transaction of $394,590.30. Following the transaction, the executive vice president now owns 18,406 shares of the company’s stock, valued at $2,429,039.82. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP John S. Jenkins sold 2,990 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $131.97, for a total transaction of $394,590.30. Following the completion of the sale, the executive vice president now owns 18,406 shares in the company, valued at $2,429,039.82. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Tim Murphy sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $131.13, for a total value of $524,520.00. Following the sale, the senior vice president now owns 17,754 shares of the company’s stock, valued at approximately $2,328,082.02. The disclosure for this sale can be found here. Insiders have sold a total of 31,919 shares of company stock valued at $4,203,806 over the last 90 days. 0.73% of the stock is currently owned by insiders.

TE Connectivity Profile

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

See Also

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

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