Bridges Investment Management Inc. Grows Stake in TE Connectivity Ltd. (NYSE:TEL)

Bridges Investment Management Inc. boosted its stake in TE Connectivity Ltd. (NYSE:TEL) by 204.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,390 shares of the electronics maker’s stock after buying an additional 8,990 shares during the quarter. Bridges Investment Management Inc.’s holdings in TE Connectivity were worth $2,014,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TEL. Tower Research Capital LLC TRC lifted its position in shares of TE Connectivity by 184.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 43,867 shares of the electronics maker’s stock valued at $6,163,000 after acquiring an additional 28,449 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in TE Connectivity by 17.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 361,166 shares of the electronics maker’s stock worth $52,456,000 after purchasing an additional 52,824 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of TE Connectivity by 25.3% during the first quarter. Russell Investments Group Ltd. now owns 287,942 shares of the electronics maker’s stock worth $41,811,000 after buying an additional 58,219 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of TE Connectivity by 72.8% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,687 shares of the electronics maker’s stock valued at $46,537,000 after buying an additional 135,548 shares during the last quarter. Finally, Manning & Napier Advisors LLC purchased a new position in shares of TE Connectivity in the second quarter worth about $15,847,000. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Price Performance

TE Connectivity stock opened at $148.11 on Friday. The company’s 50 day simple moving average is $149.59 and its 200-day simple moving average is $147.40. 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 Ltd. has a 1 year low of $115.00 and a 1 year high of $159.98. The company has a market capitalization of $45.01 billion, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 1.98 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share (EPS) 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 company had revenue of $4 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the company earned $1.77 earnings per share. The firm’s quarterly revenue was up .1% compared to the same quarter last year. As a group, equities research analysts expect that TE Connectivity Ltd. will post 7.57 earnings per share for the current year.

Insider Activity at TE Connectivity

In other TE Connectivity news, SVP Robert J. Ott sold 2,913 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total transaction of $450,320.67. Following the sale, the senior vice president now directly owns 25,504 shares in the company, valued at $3,942,663.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Robert J. Ott sold 2,913 shares of TE Connectivity stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total value of $450,320.67. Following the completion of the transaction, the senior vice president now owns 25,504 shares in the company, valued at $3,942,663.36. The sale 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 the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $155.00, for a total transaction of $1,356,250.00. Following the sale, the insider now owns 20,556 shares in the company, valued at $3,186,180. The disclosure for this sale can be found here. Insiders sold 71,363 shares of company stock worth $11,042,161 in the last three months. 0.86% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wells Fargo & Company cut their price objective on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a report on Friday. Bank of America increased their price target on TE Connectivity from $165.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, July 18th. StockNews.com initiated coverage on TE Connectivity in a research note on Saturday. They set a “buy” rating on the stock. Hsbc Global Res raised TE Connectivity to a “hold” rating in a research note on Wednesday, July 24th. Finally, Robert W. Baird boosted their price target 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. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $158.73.

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.