Legal & General Group Plc Acquires 362,868 Shares of TE Connectivity Ltd (NYSE:TEL)

Legal & General Group Plc lifted its position in shares of TE Connectivity Ltd (NYSE:TEL) by 21.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,052,335 shares of the electronics maker’s stock after acquiring an additional 362,868 shares during the period. Legal & General Group Plc owned approximately 0.61% of TE Connectivity worth $155,047,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently modified their holdings of TEL. Riverview Trust Co bought a new position in TE Connectivity in the 4th quarter valued at approximately $25,000. Taylor Hoffman Wealth Management lifted its stake in TE Connectivity by 432.8% in the 4th quarter. Taylor Hoffman Wealth Management now owns 357 shares of the electronics maker’s stock valued at $27,000 after purchasing an additional 290 shares during the last quarter. Patten Group Inc. bought a new position in shares of TE Connectivity during the fourth quarter valued at $41,000. Bruderman Asset Management LLC raised its stake in shares of TE Connectivity by 916.7% during the fourth quarter. Bruderman Asset Management LLC now owns 610 shares of the electronics maker’s stock valued at $46,000 after acquiring an additional 550 shares during the last quarter. Finally, Cornerstone Advisors Inc. raised its stake in shares of TE Connectivity by 39.8% during the fourth quarter. Cornerstone Advisors Inc. now owns 639 shares of the electronics maker’s stock valued at $48,000 after acquiring an additional 182 shares during the last quarter. 91.44% of the stock is owned by institutional investors.

Several equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of TE Connectivity from a “sell” rating to a “hold” rating in a research report on Thursday. ValuEngine upgraded shares of TE Connectivity from a “sell” rating to a “hold” rating in a research report on Tuesday, March 26th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. TE Connectivity presently has an average rating of “Hold” and an average price target of $95.00.

Shares of TE Connectivity stock traded down $0.39 during trading hours on Monday, reaching $87.56. The company’s stock had a trading volume of 701,276 shares, compared to its average volume of 1,674,164. TE Connectivity Ltd has a one year low of $69.84 and a one year high of $102.65. The firm has a market capitalization of $29.80 billion, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. The company has a current ratio of 1.55, a quick ratio of 0.98 and a debt-to-equity ratio of 0.33.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, January 23rd. The electronics maker reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. TE Connectivity had a net margin of 20.06% and a return on equity of 19.22%. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same period last year, the firm earned $1.40 earnings per share. The business’s quarterly revenue was up .3% compared to the same quarter last year. On average, research analysts forecast that TE Connectivity Ltd will post 5.44 EPS for the current year.

In other TE Connectivity news, CFO Heath A. Mitts sold 12,908 shares of TE Connectivity stock in a transaction dated Wednesday, February 6th. The shares were sold at an average price of $83.05, for a total value of $1,072,009.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Eric Resch sold 34,050 shares of TE Connectivity stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $82.70, for a total transaction of $2,815,935.00. Following the completion of the sale, the senior vice president now directly owns 68,790 shares in the company, valued at approximately $5,688,933. The disclosure for this sale can be found here. 0.80% of the stock is owned by company insiders.

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About TE Connectivity

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors solutions in Europe, the Middle East, Africa, the Asia–Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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