ASR Vermogensbeheer N.V. Invests $1.46 Million in TE Connectivity Ltd. (NYSE:TEL)

Key Points

• ASR Vermogensbeheer N.V. acquired a new stake in TE Connectivity Ltd., purchasing 10,346 shares worth approximately $1.46 million in the first quarter.
• Insiders, including EVP John S. Jenkins, have sold significant amounts of stock, with Jenkins selling 45,850 shares for over $9.5 million, reflecting a 65% decrease in his position.
• TE Connectivity recently reported quarterly earnings of $2.27 EPS, exceeding estimates, along with a 13.9% year-over-year revenue growth to $4.53 billion.

ASR Vermogensbeheer N.V. bought a new stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,346 shares of the electronics maker's stock, valued at approximately $1,462,000.

A number of other institutional investors also recently bought and sold shares of TEL. Costello Asset Management INC bought a new stake in shares of TE Connectivity during the 1st quarter worth approximately $28,000. Millstone Evans Group LLC bought a new stake in TE Connectivity during the 1st quarter valued at $32,000. North Capital Inc. bought a new position in shares of TE Connectivity in the 1st quarter worth $46,000. Global X Japan Co. Ltd. bought a new position in shares of TE Connectivity in the 1st quarter worth $47,000. Finally, Bartlett & CO. Wealth Management LLC raised its position in shares of TE Connectivity by 650.8% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 488 shares of the electronics maker's stock worth $69,000 after acquiring an additional 423 shares in the last quarter. Institutional investors own 91.43% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Wells Fargo & Company upped their target price on TE Connectivity from $170.00 to $198.00 and gave the company an "equal weight" rating in a research report on Thursday, July 24th. The Goldman Sachs Group restated a "buy" rating on shares of TE Connectivity in a research note on Friday, July 11th. Vertical Research raised TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 target price for the company in a report on Friday, April 25th. KGI Securities raised TE Connectivity to a "hold" rating in a report on Thursday, July 24th. Finally, UBS Group increased their price target on TE Connectivity from $185.00 to $201.00 and gave the company a "buy" rating in a report on Monday, July 14th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $194.80.

Insider Buying and Selling at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $159.03, for a total transaction of $3,975,750.00. Following the completion of the sale, the insider directly owned 25,976 shares of the company's stock, valued at $4,130,963.28. This represents a 49.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Malavika Sagar sold 1,945 shares of the company's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $207.20, for a total transaction of $403,004.00. Following the completion of the sale, the senior vice president owned 4,716 shares of the company's stock, valued at approximately $977,155.20. This trade represents a 29.20% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 159,195 shares of company stock valued at $29,723,737. Corporate insiders own 0.90% of the company's stock.

TE Connectivity Stock Down 1.1%

Shares of TEL stock traded down $2.25 during trading hours on Monday, reaching $199.73. 1,311,285 shares of the stock were exchanged, compared to its average volume of 1,858,530. The business's fifty day moving average is $178.45 and its two-hundred day moving average is $157.93. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.52 and a quick ratio of 0.96. The firm has a market capitalization of $59.02 billion, a P/E ratio of 41.35, a P/E/G ratio of 2.42 and a beta of 1.23. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $212.76.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The electronics maker reported $2.27 earnings per share for the quarter, topping analysts' consensus estimates of $2.08 by $0.19. The business had revenue of $4.53 billion during the quarter, compared to analysts' expectations of $4.30 billion. TE Connectivity had a net margin of 8.78% and a return on equity of 20.22%. The company's revenue was up 13.9% on a year-over-year basis. During the same period last year, the company posted $1.91 EPS. As a group, research analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity's dividend payout ratio is 58.80%.

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.