Parallel Advisors LLC Increases Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Parallel Advisors LLC increased its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 11.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,439 shares of the electronics maker’s stock after buying an additional 464 shares during the period. Parallel Advisors LLC’s holdings in TE Connectivity were worth $668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its stake in TE Connectivity by 54.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker’s stock valued at $2,265,218,000 after acquiring an additional 5,526,230 shares in the last quarter. Norges Bank purchased a new position in shares of TE Connectivity during the 4th quarter worth approximately $693,985,000. Wellington Management Group LLP grew its stake in shares of TE Connectivity by 12.5% in the fourth quarter. Wellington Management Group LLP now owns 3,630,003 shares of the electronics maker’s stock valued at $510,015,000 after buying an additional 403,750 shares in the last quarter. Pzena Investment Management LLC increased its stake in TE Connectivity by 9.3% during the first quarter. Pzena Investment Management LLC now owns 2,798,532 shares of the electronics maker’s stock worth $406,459,000 after purchasing an additional 238,370 shares during the period. Finally, First Pacific Advisors LP lifted its holdings in TE Connectivity by 0.4% during the 1st quarter. First Pacific Advisors LP now owns 2,776,505 shares of the electronics maker’s stock worth $403,260,000 after buying an additional 10,167 shares in the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TEL has been the subject of a number of research reports. StockNews.com assumed coverage on shares of TE Connectivity in a research report on Friday. They issued a “buy” rating for the company. Wells Fargo & Company lowered their target price on shares of TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 25th. Wolfe Research upgraded shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. HSBC downgraded TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 target price on the stock. in a research report on Wednesday, July 24th. Finally, Bank of America lifted their price target on TE Connectivity from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $158.45.

Insider Buying and Selling at TE Connectivity

In other news, CFO Heath A. Mitts sold 59,700 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $154.70, for a total transaction of $9,235,590.00. Following the transaction, the chief financial officer now owns 38,073 shares of the company’s stock, valued at approximately $5,889,893.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP Robert J. Ott sold 2,913 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total value of $450,320.67. Following the completion of the sale, the senior vice president now directly owns 25,504 shares of the company’s stock, valued at $3,942,663.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Heath A. Mitts sold 59,700 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $154.70, for a total transaction of $9,235,590.00. Following the completion of the sale, the chief financial officer now directly owns 38,073 shares of the company’s stock, valued at $5,889,893.10. The disclosure for this sale can be found here. Insiders sold 71,363 shares of company stock worth $11,042,161 over the last ninety days. 0.86% of the stock is currently owned by insiders.

TE Connectivity Trading Up 0.0 %

Shares of NYSE TEL opened at $145.87 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.23. TE Connectivity Ltd. has a 12 month low of $115.00 and a 12 month high of $159.98. The company has a market cap of $44.67 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of 1.96 and a beta of 1.33. The business has a fifty day simple moving average of $150.04 and a 200-day simple moving average of $147.33.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.05. The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $4.01 billion. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. TE Connectivity’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.77 earnings per share. Sell-side analysts predict that TE Connectivity Ltd. will post 7.57 EPS for the current 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.