Beaton Management Co. Inc. Grows Position in TE Connectivity Ltd. (NYSE:TEL)

Beaton Management Co. Inc. boosted its holdings in TE Connectivity Ltd. (NYSE:TELGet Rating) by 9.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,436 shares of the electronics maker’s stock after acquiring an additional 204 shares during the quarter. Beaton Management Co. Inc.’s holdings in TE Connectivity were worth $319,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Mather Group LLC. raised its position in TE Connectivity by 8.5% in the first quarter. Mather Group LLC. now owns 5,531 shares of the electronics maker’s stock worth $724,000 after acquiring an additional 435 shares in the last quarter. Baird Financial Group Inc. grew its holdings in TE Connectivity by 1.1% in the first quarter. Baird Financial Group Inc. now owns 1,878,454 shares of the electronics maker’s stock valued at $246,040,000 after purchasing an additional 20,030 shares during the last quarter. Vanguard Group Inc. grew its holdings in TE Connectivity by 1.1% in the first quarter. Vanguard Group Inc. now owns 27,621,186 shares of the electronics maker’s stock valued at $3,617,824,000 after purchasing an additional 308,580 shares during the last quarter. Bruderman Asset Management LLC grew its holdings in TE Connectivity by 7.2% in the first quarter. Bruderman Asset Management LLC now owns 2,650 shares of the electronics maker’s stock valued at $347,000 after purchasing an additional 177 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its holdings in TE Connectivity by 108.9% in the first quarter. Sequoia Financial Advisors LLC now owns 3,336 shares of the electronics maker’s stock valued at $437,000 after purchasing an additional 1,739 shares during the last quarter. Hedge funds and other institutional investors own 90.61% of the company’s stock.

Insider Transactions at TE Connectivity

In other news, SVP Tim Murphy sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $131.13, for a total value of $524,520.00. Following the transaction, the senior vice president now directly owns 17,754 shares in the company, valued at approximately $2,328,082.02. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Tim Murphy sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $131.13, for a total transaction of $524,520.00. Following the sale, the senior vice president now directly owns 17,754 shares in the company, valued at approximately $2,328,082.02. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Terrence R. Curtin sold 3,000 shares of the firm’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $131.85, for a total value of $395,550.00. Following the sale, the director now owns 54,969 shares in the company, valued at $7,247,662.65. The disclosure for this sale can be found here. Insiders have sold a total of 31,919 shares of company stock worth $4,203,806 in the last three months. 0.73% of the stock is currently owned by company insiders.

TE Connectivity Stock Up 0.5 %

Shares of NYSE:TEL opened at $127.16 on Friday. The stock’s 50-day moving average price is $125.59 and its two-hundred day moving average price is $126.37. The company has a current ratio of 1.50, a quick ratio of 0.90 and a debt-to-equity ratio of 0.32. TE Connectivity Ltd. has a 12-month low of $107.12 and a 12-month high of $166.44. The firm has a market cap of $40.67 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 1.66 and a beta of 1.32.

TE Connectivity (NYSE:TELGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The electronics maker reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.11. The company 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 company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the business posted $1.79 EPS. On average, research analysts forecast that TE Connectivity Ltd. will post 7.3 EPS for the current year.

TE Connectivity announced that its Board of Directors has authorized a share repurchase plan on Friday, June 17th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the electronics maker to reacquire up to 4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

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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