TE Connectivity Ltd. (NYSE:TEL) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its position in TE Connectivity Ltd. (NYSE:TEL) by 61.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 250,753 shares of the electronics maker’s stock after selling 395,833 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.08% of TE Connectivity worth $37,721,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in TEL. Mill Creek Capital Advisors LLC raised its holdings in shares of TE Connectivity by 12.8% in the 2nd quarter. Mill Creek Capital Advisors LLC now owns 5,944 shares of the electronics maker’s stock valued at $894,000 after purchasing an additional 673 shares in the last quarter. Bank of Montreal Can increased its holdings in TE Connectivity by 43.0% in the second quarter. Bank of Montreal Can now owns 1,155,426 shares of the electronics maker’s stock valued at $174,955,000 after buying an additional 347,315 shares during the last quarter. Evergreen Capital Management LLC raised its stake in TE Connectivity by 2.4% in the second quarter. Evergreen Capital Management LLC now owns 5,800 shares of the electronics maker’s stock valued at $873,000 after buying an additional 137 shares in the last quarter. Magnetar Financial LLC lifted its holdings in TE Connectivity by 182.4% during the 2nd quarter. Magnetar Financial LLC now owns 22,954 shares of the electronics maker’s stock worth $3,453,000 after buying an additional 14,827 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its position in shares of TE Connectivity by 62.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 11,476 shares of the electronics maker’s stock worth $1,726,000 after acquiring an additional 4,415 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Insider Transactions at TE Connectivity

In related news, SVP Robert J. Ott sold 2,913 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total value of $450,320.67. Following the sale, the senior vice president now directly owns 25,504 shares of the company’s stock, valued at approximately $3,942,663.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other TE Connectivity news, SVP Robert J. Ott sold 2,913 shares of the stock in a transaction on 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 approximately $3,942,663.36. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Aaron Kyle Stucki sold 8,750 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 20,556 shares of the company’s stock, valued at approximately $3,186,180. The disclosure for this sale can be found here. Insiders sold 71,363 shares of company stock valued at $11,042,161 in the last 90 days. 0.86% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Bank of America lifted their price target on shares of TE Connectivity from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Wells Fargo & Company cut their target price on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a research report on Friday. StockNews.com assumed coverage on TE Connectivity in a report on Saturday. They issued a “buy” rating for the company. Robert W. Baird raised their price target on TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Wolfe Research raised TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $158.73.

TE Connectivity Trading Up 0.3 %

NYSE:TEL opened at $148.49 on Tuesday. The stock has a market capitalization of $45.47 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 1.98 and a beta of 1.33. TE Connectivity Ltd. has a 1 year low of $115.00 and a 1 year high of $159.98. The stock has a fifty day moving average price of $149.43 and a two-hundred day moving average price of $147.53. 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 data on Wednesday, July 24th. The electronics maker reported $1.91 EPS for the quarter, beating the consensus estimate of $1.86 by $0.05. TE Connectivity had a net margin of 21.94% and a return on equity of 18.53%. The firm had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter last year, the business earned $1.77 earnings per share. The business’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, sell-side analysts anticipate that TE Connectivity Ltd. will post 7.57 earnings per share for the current fiscal year.

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.