TE Connectivity Ltd (NYSE:TEL) Shares Acquired by Biltmore Wealth Management LLC

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Biltmore Wealth Management LLC grew its holdings in TE Connectivity Ltd (NYSE:TEL) by 4.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,659 shares of the electronics maker’s stock after buying an additional 144 shares during the period. Biltmore Wealth Management LLC’s holdings in TE Connectivity were worth $341,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of TEL. Vanguard Group Inc. increased its position in TE Connectivity by 0.3% during the second quarter. Vanguard Group Inc. now owns 25,331,319 shares of the electronics maker’s stock worth $2,426,234,000 after purchasing an additional 86,271 shares during the last quarter. BlackRock Inc. increased its position in TE Connectivity by 4.3% during the second quarter. BlackRock Inc. now owns 16,809,367 shares of the electronics maker’s stock worth $1,610,001,000 after purchasing an additional 698,506 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in TE Connectivity by 7.0% during the second quarter. Price T Rowe Associates Inc. MD now owns 14,659,858 shares of the electronics maker’s stock worth $1,404,121,000 after purchasing an additional 953,793 shares during the last quarter. EdgePoint Investment Group Inc. increased its position in TE Connectivity by 3.9% during the second quarter. EdgePoint Investment Group Inc. now owns 8,214,811 shares of the electronics maker’s stock worth $786,815,000 after purchasing an additional 310,824 shares during the last quarter. Finally, Boston Partners increased its position in TE Connectivity by 4.6% during the second quarter. Boston Partners now owns 5,526,768 shares of the electronics maker’s stock worth $529,303,000 after purchasing an additional 241,616 shares during the last quarter. Institutional investors and hedge funds own 89.88% of the company’s stock.

Several research firms recently issued reports on TEL. Citigroup cut shares of TE Connectivity from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $105.00 to $95.00 in a research report on Wednesday. Goldman Sachs Group raised shares of TE Connectivity from a “neutral” rating to a “buy” rating and increased their target price for the stock from $92.00 to $105.00 in a research note on Thursday, June 20th. Longbow Research lowered shares of TE Connectivity from a “buy” rating to a “neutral” rating and set a $90.66 target price for the company. in a research note on Monday, June 17th. Wolfe Research started coverage on shares of TE Connectivity in a research note on Tuesday. They set a “market perform” rating for the company. Finally, Morgan Stanley lowered shares of TE Connectivity from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $98.00 to $95.00 in a research note on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. TE Connectivity currently has a consensus rating of “Hold” and a consensus price target of $92.18.

In related news, SVP Robert J. Ott sold 22,400 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $92.01, for a total value of $2,061,024.00. Following the sale, the senior vice president now owns 39,554 shares of the company’s stock, valued at $3,639,363.54. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Steven T. Merkt sold 65,650 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $93.55, for a total transaction of $6,141,557.50. Following the completion of the sale, the insider now directly owns 89,854 shares in the company, valued at approximately $8,405,841.70. The disclosure for this sale can be found here. In the last three months, insiders sold 255,500 shares of company stock valued at $23,737,285. Insiders own 0.80% of the company’s stock.

TEL stock traded up $1.54 during mid-day trading on Wednesday, hitting $87.07. 87,809 shares of the company were exchanged, compared to its average volume of 1,469,970. The business has a fifty day simple moving average of $92.12 and a 200-day simple moving average of $90.57. The company has a quick ratio of 0.94, a current ratio of 1.47 and a debt-to-equity ratio of 0.32. TE Connectivity Ltd has a 12-month low of $69.84 and a 12-month high of $97.99. The firm has a market capitalization of $30.20 billion, a P/E ratio of 15.53, a PEG ratio of 1.44 and a beta of 1.18.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.08. TE Connectivity had a net margin of 22.94% and a return on equity of 18.33%. The business had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.43 billion. During the same quarter last year, the firm posted $1.43 earnings per share. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. Research analysts predict that TE Connectivity Ltd will post 5.52 EPS for the current year.

TE Connectivity Profile

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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