iA Global Asset Management Inc. Lowers Position in TE Connectivity Ltd. (NYSE:TEL)

iA Global Asset Management Inc. reduced its stake in TE Connectivity Ltd. (NYSE:TEL) by 6.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,519 shares of the electronics maker’s stock after selling 1,259 shares during the period. iA Global Asset Management Inc.’s holdings in TE Connectivity were worth $2,835,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in shares of TE Connectivity by 54.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker’s stock valued at $2,265,218,000 after buying an additional 5,526,230 shares in the last quarter. Norges Bank purchased a new stake in TE Connectivity during the fourth quarter worth about $693,985,000. First Trust Advisors LP lifted its position in shares of TE Connectivity by 150.9% during the fourth quarter. First Trust Advisors LP now owns 2,143,423 shares of the electronics maker’s stock worth $301,151,000 after purchasing an additional 1,289,230 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of TE Connectivity by 1,000.5% in the first quarter. Assenagon Asset Management S.A. now owns 1,335,477 shares of the electronics maker’s stock valued at $193,965,000 after purchasing an additional 1,214,122 shares during the period. Finally, Wellington Management Group LLP grew its holdings 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 valued at $510,015,000 after purchasing an additional 403,750 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Price Performance

TE Connectivity stock traded down $5.20 during midday trading on Friday, reaching $145.11. 806,813 shares of the company were exchanged, compared to its average volume of 1,954,133. The firm’s 50-day simple moving average is $151.39 and its 200-day simple moving average is $145.68. TE Connectivity Ltd. has a 1 year low of $115.00 and a 1 year high of $159.98. The company has a market capitalization of $44.10 billion, a price-to-earnings ratio of 13.39, a P/E/G ratio of 2.10 and a beta of 1.33. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.51.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.05. TE Connectivity had a net margin of 21.94% and a return on equity of 18.53%. The company had revenue of $4 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter last year, the business earned $1.77 EPS. TE Connectivity’s revenue for the quarter was up .1% on a year-over-year basis. On average, analysts anticipate that TE Connectivity Ltd. will post 7.56 EPS for the current year.

Analysts Set New Price Targets

TEL has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price objective on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. StockNews.com assumed coverage on shares of TE Connectivity in a research report on Saturday, July 27th. They set a “buy” rating for the company. Robert W. Baird increased their target price on shares of TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Wells Fargo & Company reduced their price target on shares of TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 25th. Finally, HSBC lowered TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price objective on the stock. in a report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $158.45.

Insider Transactions at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 5,000 shares of TE Connectivity stock in a transaction on 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 $3,892,763.36. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other TE Connectivity news, insider Shadrak W. Kroeger sold 5,000 shares of the firm’s 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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Aaron Kyle Stucki sold 8,750 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $155.00, for a total value of $1,356,250.00. Following the transaction, the insider now directly owns 20,556 shares of the company’s stock, valued at $3,186,180. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,363 shares of company stock worth $11,791,461. 0.86% of the stock is currently owned by corporate insiders.

TE Connectivity 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.