Ieq Capital LLC Increases Position in TE Connectivity Ltd. (NYSE:TEL)

Ieq Capital LLC raised its holdings in TE Connectivity Ltd. (NYSE:TEL) by 7.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,818 shares of the electronics maker’s stock after acquiring an additional 1,155 shares during the period. Ieq Capital LLC’s holdings in TE Connectivity were worth $2,380,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Salem Investment Counselors Inc. lifted its position in TE Connectivity by 112.4% during the first quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock worth $27,000 after buying an additional 100 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of TE Connectivity by 209.8% in the second quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 128 shares during the period. Olistico Wealth LLC acquired a new stake in TE Connectivity during the second quarter worth about $30,000. Bank & Trust Co purchased a new position in TE Connectivity during the second quarter worth about $35,000. Finally, Rise Advisors LLC acquired a new position in TE Connectivity in the 1st quarter valued at about $40,000. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Stock Performance

Shares of TEL stock opened at $148.11 on Friday. TE Connectivity Ltd. has a 52 week low of $115.00 and a 52 week high of $159.98. The firm has a 50 day moving average of $149.59 and a two-hundred day moving average of $147.45. The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $45.36 billion, a PE ratio of 13.55, a P/E/G ratio of 1.98 and a beta of 1.33.

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

Analyst Ratings Changes

Several research firms have recently commented on TEL. Wells Fargo & Company reduced their price target on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a research report on Friday. Vertical Research assumed coverage on TE Connectivity in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 price target on the stock. StockNews.com initiated coverage on TE Connectivity in a research report on Saturday. They set a “buy” rating for the company. Truist Financial upped their target price on shares of TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Finally, Wolfe Research upgraded shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $158.73.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Aaron Kyle Stucki sold 8,750 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $155.00, for a total transaction of $1,356,250.00. Following the completion of the transaction, the insider now owns 20,556 shares in the company, valued at approximately $3,186,180. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Heath A. Mitts sold 59,700 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $154.70, for a total value of $9,235,590.00. Following the completion of the transaction, the chief financial officer now directly owns 38,073 shares of the company’s stock, valued at $5,889,893.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Aaron Kyle Stucki sold 8,750 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $155.00, for a total transaction of $1,356,250.00. Following the sale, the insider now directly owns 20,556 shares in the company, valued at approximately $3,186,180. The disclosure for this sale can be found here. Insiders have sold a total of 71,363 shares of company stock valued at $11,042,161 over the last 90 days. 0.86% of the stock is owned by corporate insiders.

About TE Connectivity

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.