Achmea Investment Management B.V. Buys New Shares in TE Connectivity Ltd. (NYSE:TEL)

Achmea Investment Management B.V. purchased a new position in shares of TE Connectivity Ltd. (NYSE:TELGet Rating) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 51,787 shares of the electronics maker’s stock, valued at approximately $6,783,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Clark Capital Management Group Inc. lifted its stake in TE Connectivity by 42.1% during the first quarter. Clark Capital Management Group Inc. now owns 250,491 shares of the electronics maker’s stock worth $32,809,000 after purchasing an additional 74,229 shares during the period. PFS Investments Inc. lifted its stake in TE Connectivity by 1.5% during the first quarter. PFS Investments Inc. now owns 105,268 shares of the electronics maker’s stock worth $13,788,000 after purchasing an additional 1,528 shares during the period. Hsbc Holdings PLC lifted its stake in TE Connectivity by 17.9% during the first quarter. Hsbc Holdings PLC now owns 140,165 shares of the electronics maker’s stock worth $18,464,000 after purchasing an additional 21,266 shares during the period. Crawford Investment Counsel Inc. raised its stake in shares of TE Connectivity by 237.0% in the first quarter. Crawford Investment Counsel Inc. now owns 106,063 shares of the electronics maker’s stock valued at $13,892,000 after acquiring an additional 74,590 shares during the last quarter. Finally, SVB Wealth LLC raised its stake in shares of TE Connectivity by 1.4% in the first quarter. SVB Wealth LLC now owns 31,355 shares of the electronics maker’s stock valued at $4,106,000 after acquiring an additional 433 shares during the last quarter. Institutional investors own 90.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TEL. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $134.00 target price (down previously from $166.00) on shares of TE Connectivity in a research note on Thursday, July 14th. Cowen cut their target price on shares of TE Connectivity from $160.00 to $125.00 and set a “market perform” rating for the company in a research note on Thursday, June 30th. Cowen cut their target price on shares of TE Connectivity from $160.00 to $125.00 and set a “market perform” rating for the company in a research note on Thursday, June 30th. Morgan Stanley cut their target price on shares of TE Connectivity from $147.00 to $140.00 and set an “equal weight” rating for the company in a research note on Friday, June 10th. Finally, The Goldman Sachs Group lowered their price target on shares of 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 stock presently has an average rating of “Hold” and a consensus target price of $148.00.

Insider Transactions at TE Connectivity

In other news, EVP John S. Jenkins sold 2,990 shares of TE Connectivity stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $131.97, for a total transaction of $394,590.30. Following the transaction, the executive vice president now directly owns 18,406 shares of the company’s stock, valued at $2,429,039.82. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Terrence R. Curtin sold 21,929 shares of TE Connectivity stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $131.75, for a total transaction of $2,889,145.75. Following the transaction, the director now directly owns 54,969 shares of the company’s stock, valued at $7,242,165.75. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP John S. Jenkins sold 2,990 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were 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 directly owns 18,406 shares in the company, valued at $2,429,039.82. 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 three months. 0.73% of the stock is currently owned by corporate insiders.

TE Connectivity Price Performance

TEL opened at $129.04 on Friday. The company has a fifty day moving average price of $125.95 and a two-hundred day moving average price of $126.20. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.90 and a current ratio of 1.50. TE Connectivity Ltd. has a 52 week low of $107.12 and a 52 week high of $166.44. The firm has a market capitalization of $41.27 billion, a PE ratio of 16.85, a P/E/G ratio of 1.67 and a beta of 1.32.

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

TE Connectivity announced that its board has approved a stock repurchase plan on Friday, June 17th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to purchase up to 4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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.

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

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