BT Investment Management Ltd Purchases Shares of 63,748 TE Connectivity Ltd. (TEL)

BT Investment Management Ltd purchased a new position in shares of TE Connectivity Ltd. (NYSE:TEL) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 63,748 shares of the electronics maker’s stock, valued at approximately $5,016,000.

Several other large investors also recently made changes to their positions in TEL. Canada Pension Plan Investment Board increased its holdings in shares of TE Connectivity by 0.3% during the first quarter. Canada Pension Plan Investment Board now owns 47,026 shares of the electronics maker’s stock worth $3,506,000 after buying an additional 119 shares in the last quarter. UBS Asset Management Americas Inc. increased its holdings in shares of TE Connectivity by 234,499.1% during the first quarter. UBS Asset Management Americas Inc. now owns 1,616,388 shares of the electronics maker’s stock worth $120,502,000 after buying an additional 1,615,699 shares in the last quarter. Meadow Creek Investment Management LLC increased its holdings in shares of TE Connectivity by 8.3% during the first quarter. Meadow Creek Investment Management LLC now owns 4,608 shares of the electronics maker’s stock worth $343,000 after buying an additional 352 shares in the last quarter. Engineers Gate Manager LP acquired a new position in shares of TE Connectivity during the first quarter worth $559,000. Finally, Boston Family Office LLC increased its holdings in shares of TE Connectivity by 16.7% during the first quarter. Boston Family Office LLC now owns 44,909 shares of the electronics maker’s stock worth $3,348,000 after buying an additional 6,420 shares in the last quarter. Institutional investors own 90.10% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This piece was first reported by Transcript Daily and is the sole property of of Transcript Daily. If you are viewing this piece on another website, it was copied illegally and reposted in violation of US and international copyright and trademark laws. The legal version of this piece can be read at https://transcriptdaily.com/2017/09/17/bt-investment-management-ltd-purchases-shares-of-63748-te-connectivity-ltd-tel.html.

TE Connectivity Ltd. (NYSE TEL) traded up 1.07% during mid-day trading on Friday, reaching $82.15. The company had a trading volume of 1,633,504 shares. The firm has a 50-day moving average price of $79.62 and a 200 day moving average price of $77.57. TE Connectivity Ltd. has a 12-month low of $60.59 and a 12-month high of $85.20. The firm has a market capitalization of $29.03 billion, a price-to-earnings ratio of 17.44 and a beta of 1.05.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, July 26th. The electronics maker reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.07. TE Connectivity had a net margin of 12.98% and a return on equity of 19.76%. The company had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.28 billion. During the same period in the previous year, the firm posted $1.08 EPS. The firm’s revenue was up 7.9% compared to the same quarter last year. Analysts expect that TE Connectivity Ltd. will post $4.75 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 25th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date was Wednesday, August 23rd. TE Connectivity’s dividend payout ratio is currently 33.97%.

Several research analysts have recently issued reports on the stock. BidaskClub downgraded shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Cowen and Company reiterated a “buy” rating and set a $95.00 price target on shares of TE Connectivity in a report on Thursday, August 10th. Zacks Investment Research downgraded shares of TE Connectivity from a “buy” rating to a “hold” rating in a report on Tuesday, September 12th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $86.00 price target on shares of TE Connectivity in a report on Tuesday, June 6th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. TE Connectivity currently has an average rating of “Hold” and a consensus target price of $83.43.

In related news, insider Thomas J. Lynch sold 186,034 shares of TE Connectivity stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $78.65, for a total value of $14,631,574.10. Following the transaction, the insider now owns 504,885 shares in the company, valued at approximately $39,709,205.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Thomas J. Lynch sold 186,033 shares of TE Connectivity stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $79.75, for a total transaction of $14,836,131.75. Following the completion of the transaction, the insider now owns 504,884 shares in the company, valued at approximately $40,264,499. The disclosure for this sale can be found here. Insiders have sold a total of 749,165 shares of company stock valued at $59,522,187 over the last ninety days. 1.30% of the stock is currently owned by insiders.

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)

Receive News & Ratings for TE Connectivity Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TE Connectivity Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply