Alpine Investment Management LLC acquired a new stake in TE Connectivity Ltd. (NYSE:TEL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 16,328 shares of the company’s stock, valued at approximately $932,000. TE Connectivity comprises approximately 0.1% of Alpine Investment Management LLC’s holdings, making the stock its 19th largest position.
Other large investors have also bought and sold shares of the company. Virginia Retirement System acquired a new stake in TE Connectivity during the first quarter valued at about $388,000. Bessemer Group Inc. increased its stake in shares of TE Connectivity by 79.9% in the first quarter. Bessemer Group Inc. now owns 12,560 shares of the company’s stock worth $778,000 after buying an additional 5,579 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of TE Connectivity by 24.9% in the first quarter. Canada Pension Plan Investment Board now owns 172,957 shares of the company’s stock worth $10,709,000 after buying an additional 34,500 shares during the period. BB&T Securities LLC increased its stake in shares of TE Connectivity by 119.6% in the first quarter. BB&T Securities LLC now owns 144,643 shares of the company’s stock worth $8,956,000 after buying an additional 78,778 shares during the period. Finally, State Street Corp increased its stake in shares of TE Connectivity by 1.5% in the first quarter. State Street Corp now owns 13,705,375 shares of the company’s stock worth $848,635,000 after buying an additional 198,512 shares during the period. Institutional investors own 91.52% of the company’s stock.
TE Connectivity Ltd. (NYSE:TEL) traded down 0.13% on Monday, reaching $61.03. The company had a trading volume of 1,020,780 shares. The stock has a market cap of $21.70 billion, a price-to-earnings ratio of 8.91 and a beta of 1.40. TE Connectivity Ltd. has a one year low of $51.70 and a one year high of $67.99. The company has a 50-day moving average of $63.04 and a 200 day moving average of $60.87.
TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, July 20th. The company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.05. TE Connectivity had a return on equity of 16.72% and a net margin of 21.97%. The firm earned $3.12 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the company earned $0.90 EPS. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. On average, equities research analysts predict that TE Connectivity Ltd. will post $4.01 EPS for the current year.
A number of equities research analysts have recently weighed in on TEL shares. Zacks Investment Research downgraded TE Connectivity from a “hold” rating to a “sell” rating in a report on Monday, September 26th. Morgan Stanley reiterated a “buy” rating on shares of TE Connectivity in a report on Tuesday, September 20th. RBC Capital Markets reiterated an “outperform” rating and issued a $65.00 price target (up from $63.00) on shares of TE Connectivity in a report on Thursday, July 21st. Finally, Royal Bank Of Canada lowered their price target on TE Connectivity from $66.00 to $63.00 and set an “outperform” rating for the company in a report on Friday, July 1st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. TE Connectivity presently has an average rating of “Buy” and a consensus target price of $64.33.
In related news, CEO Thomas J. Lynch sold 123,635 shares of the stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $62.78, for a total transaction of $7,761,805.30. Following the completion of the sale, the chief executive officer now owns 507,776 shares in the company, valued at approximately $31,878,177.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider James O’toole sold 13,925 shares of the stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $61.40, for a total value of $854,995.00. The disclosure for this sale can be found here. Corporate insiders own 1.49% of the company’s stock.
TE Connectivity Company Profile
TE Connectivity Ltd. (TE Connectivity) is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates its business through three segments: Transportation Solutions, which offers various products, including terminals and connector systems and components, relays, circuit protection devices, sensors, and application tooling, among others; Industrial Solutions, which include terminals and connector systems and components, heat shrink tubing, relays, wire and cable, and Communications Solutions, which include terminals and connector systems and components, circuit protection devices, antennas, relays and heat shrink tubing.
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