TE Connectivity Ltd. (NYSE:TEL) Shares Purchased by Ballentine Partners LLC

Ballentine Partners LLC raised its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 29.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,532 shares of the electronics maker’s stock after acquiring an additional 1,036 shares during the period. Ballentine Partners LLC’s holdings in TE Connectivity were worth $658,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of TE Connectivity in the fourth quarter worth about $693,985,000. Massachusetts Financial Services Co. MA grew its stake in shares of TE Connectivity by 2.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,632,809 shares of the electronics maker’s stock worth $650,910,000 after purchasing an additional 111,340 shares during the period. Impax Asset Management Group plc increased its holdings in shares of TE Connectivity by 1.4% during the 4th quarter. Impax Asset Management Group plc now owns 3,774,896 shares of the electronics maker’s stock valued at $529,798,000 after purchasing an additional 51,866 shares in the last quarter. Morgan Stanley lifted its stake in shares of TE Connectivity by 11.7% in the 3rd quarter. Morgan Stanley now owns 3,738,943 shares of the electronics maker’s stock valued at $461,872,000 after purchasing an additional 390,723 shares during the period. Finally, Wellington Management Group LLP grew its position in TE Connectivity by 12.5% during the fourth quarter. Wellington Management Group LLP now owns 3,630,003 shares of the electronics maker’s stock valued at $510,015,000 after buying an additional 403,750 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Price Performance

TEL stock traded up $0.96 during mid-day trading on Monday, reaching $152.96. The company’s stock had a trading volume of 177,705 shares, compared to its average volume of 1,975,115. The company has a current ratio of 1.45, a quick ratio of 0.92 and a debt-to-equity ratio of 0.24. The company’s 50 day moving average is $146.91 and its two-hundred day moving average is $142.73. The stock has a market cap of $46.84 billion, a PE ratio of 13.91, a P/E/G ratio of 2.22 and a beta of 1.35. TE Connectivity Ltd. has a fifty-two week low of $115.00 and a fifty-two week high of $153.30.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.03. The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.96 billion. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The firm’s revenue was down 4.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.65 earnings per share. Equities research analysts expect that TE Connectivity Ltd. will post 7.5 EPS for the current year.

Analysts Set New Price Targets

TEL has been the topic of several recent analyst reports. Jefferies Financial Group started coverage on shares of TE Connectivity in a research note on Tuesday, April 9th. They set a “buy” rating and a $180.00 target price on the stock. StockNews.com began coverage on TE Connectivity in a research report on Monday, June 17th. They set a “buy” rating on the stock. Robert W. Baird dropped their price objective on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. JPMorgan Chase & Co. reduced their target price on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of TE Connectivity in a research note on Monday, April 1st. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, TE Connectivity has an average rating of “Moderate Buy” and an average target price of $154.38.

Insider Activity

In related news, Director Mark Trudeau sold 7,044 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $141.49, for a total transaction of $996,655.56. Following the completion of the sale, the director now directly owns 5,917 shares in the company, valued at $837,196.33. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other TE Connectivity news, insider Shadrak W. Kroeger sold 5,000 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $149.86, for a total transaction of $749,300.00. Following the completion of the transaction, the insider now owns 25,976 shares of the company’s stock, valued at $3,892,763.36. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mark Trudeau sold 7,044 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $141.49, for a total value of $996,655.56. Following the completion of the sale, the director now directly owns 5,917 shares in the company, valued at approximately $837,196.33. The disclosure for this sale can be found here. Corporate insiders own 0.86% of the company’s stock.

TE Connectivity Company Profile

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