Legacy Wealth Asset Management LLC Increases Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Legacy Wealth Asset Management LLC grew its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 2.3% during the first quarter, HoldingsChannel reports. The firm owned 5,791 shares of the electronics maker’s stock after purchasing an additional 128 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in TE Connectivity were worth $841,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Norges Bank bought a new position in TE Connectivity in the 4th quarter worth about $693,985,000. Massachusetts Financial Services Co. MA increased its holdings in TE Connectivity by 2.5% in 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 buying an additional 111,340 shares in the last quarter. Impax Asset Management Group plc raised its position in TE Connectivity by 1.4% in the 4th quarter. Impax Asset Management Group plc now owns 3,774,896 shares of the electronics maker’s stock worth $529,798,000 after buying an additional 51,866 shares during the last quarter. Morgan Stanley lifted its stake in TE Connectivity by 11.7% during the 3rd quarter. Morgan Stanley now owns 3,738,943 shares of the electronics maker’s stock valued at $461,872,000 after acquiring an additional 390,723 shares during the period. Finally, Wellington Management Group LLP grew its stake in shares of TE Connectivity by 12.5% in the fourth quarter. Wellington Management Group LLP now owns 3,630,003 shares of the electronics maker’s stock worth $510,015,000 after acquiring an additional 403,750 shares during the period. 91.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Jefferies Financial Group assumed coverage on shares of TE Connectivity in a research report on Tuesday, April 9th. They issued a “buy” rating and a $180.00 target price for the company. The Goldman Sachs Group reiterated a “buy” rating on shares of TE Connectivity in a research note on Monday, April 1st. Robert W. Baird cut their target price on shares of TE Connectivity from $159.00 to $158.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Wells Fargo & Company reduced their target price on shares of TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating for the company in a report on Tuesday, June 25th. Finally, JPMorgan Chase & Co. cut their price objective on shares of TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $155.13.

TE Connectivity Stock Performance

NYSE TEL opened at $148.78 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. TE Connectivity Ltd. has a twelve month low of $115.00 and a twelve month high of $153.54. The business has a 50-day moving average price of $148.29 and a 200-day moving average price of $143.41. The firm has a market cap of $45.56 billion, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 2.19 and a beta of 1.33.

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

Insider Transactions at TE Connectivity

In other TE Connectivity news, Director Mark Trudeau sold 7,044 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $141.49, for a total transaction of $996,655.56. Following the completion of the transaction, the director now owns 5,917 shares in the company, valued at approximately $837,196.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related 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 value of $749,300.00. Following the completion of the transaction, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,892,763.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark Trudeau sold 7,044 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $141.49, for a total value of $996,655.56. Following the sale, the director now directly owns 5,917 shares in the company, valued at $837,196.33. The disclosure for this sale can be found here. 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.