Bank of Montreal Can Grows Stake in TE Connectivity Ltd. (NYSE:TEL)

Bank of Montreal Can raised its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 43.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,155,426 shares of the electronics maker’s stock after purchasing an additional 347,315 shares during the quarter. Bank of Montreal Can owned 0.38% of TE Connectivity worth $174,955,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Salem Investment Counselors Inc. increased its position in TE Connectivity by 112.4% in the 1st quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock valued at $27,000 after acquiring an additional 100 shares during the period. Versant Capital Management Inc raised its holdings in shares of TE Connectivity by 209.8% during the second quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock valued at $28,000 after acquiring an additional 128 shares during the period. Olistico Wealth LLC acquired a new stake in shares of TE Connectivity in the second quarter worth $30,000. Bank & Trust Co acquired a new position in shares of TE Connectivity in the 2nd quarter valued at about $35,000. Finally, Rise Advisors LLC acquired a new stake in shares of TE Connectivity during the 1st quarter valued at $40,000. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Performance

TEL stock opened at $148.49 on Tuesday. The stock has a 50-day moving average price of $149.43 and a 200-day moving average price of $147.53. TE Connectivity Ltd. has a 1-year low of $115.00 and a 1-year high of $159.98. The firm has a market cap of $45.47 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 1.98 and a beta of 1.33. The company has a current ratio of 1.51, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.05. The business had revenue of $4 billion during 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%. The firm’s revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.77 EPS. As a group, equities research analysts expect that TE Connectivity Ltd. will post 7.57 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on TEL shares. StockNews.com initiated coverage on shares of TE Connectivity in a report on Saturday. They set a “buy” rating on the stock. Wells Fargo & Company reduced their target price on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a research note on Friday. Truist Financial lifted 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. Robert W. Baird increased their price objective on TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Bank of America lifted their target price on shares of TE Connectivity from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, TE Connectivity presently has a consensus rating of “Hold” and a consensus price target of $158.73.

Insider Buying and Selling

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