National Bank of Canada FI Raises Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

National Bank of Canada FI lifted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 18.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 92,583 shares of the electronics maker’s stock after acquiring an additional 14,090 shares during the quarter. National Bank of Canada FI’s holdings in TE Connectivity were worth $13,742,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its position in shares of TE Connectivity by 54.9% during 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 acquiring an additional 5,526,230 shares during the last quarter. Norges Bank purchased a new stake in TE Connectivity in the fourth quarter worth $693,985,000. Massachusetts Financial Services Co. MA increased its position in TE Connectivity by 2.5% in the fourth 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 during the last quarter. Wellington Management Group LLP increased its position in 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 buying an additional 403,750 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in TE Connectivity by 13.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,835,064 shares of the electronics maker’s stock worth $398,342,000 after buying an additional 343,205 shares during the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on TEL shares. StockNews.com started coverage on TE Connectivity in a research report on Thursday. They issued a “buy” rating for the company. HSBC downgraded TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 target price for the company. in a research report on Wednesday, July 24th. Wolfe Research raised TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday. Hsbc Global Res raised TE Connectivity to a “hold” rating in a report on Wednesday, July 24th. Finally, Bank of America raised their price target on TE Connectivity from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, TE Connectivity has an average rating of “Hold” and an average price target of $158.45.

TE Connectivity Price Performance

NYSE:TEL opened at $143.38 on Friday. The firm has a market capitalization of $43.91 billion, a price-to-earnings ratio of 13.12, a P/E/G ratio of 2.00 and a beta of 1.33. TE Connectivity Ltd. has a 52-week low of $115.00 and a 52-week high of $159.98. The stock has a fifty day moving average of $150.58 and a 200 day moving average of $147.22. 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 released 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 return on equity of 18.53% and a net margin of 21.94%. The business had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter last year, the business posted $1.77 earnings per share. The company’s revenue for the quarter was up .1% on a year-over-year basis. On average, research analysts expect that TE Connectivity Ltd. will post 7.57 EPS for the current fiscal year.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, SVP Robert J. Ott sold 2,913 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total transaction of $450,320.67. Following the sale, the senior vice president now owns 25,504 shares in the company, valued at $3,942,663.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other TE Connectivity news, SVP Robert J. Ott sold 2,913 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total transaction of $450,320.67. Following the sale, the senior vice president now owns 25,504 shares in the company, valued at $3,942,663.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Aaron Kyle Stucki sold 8,750 shares of TE Connectivity stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $155.00, for a total value of $1,356,250.00. Following the completion of the transaction, the insider now owns 20,556 shares in the company, valued at approximately $3,186,180. The disclosure for this sale can be found here. Insiders have sold 71,363 shares of company stock worth $11,042,161 over the last 90 days. Corporate insiders own 0.86% of the company’s stock.

About TE Connectivity

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.