Exchange Traded Concepts LLC Makes New $235,000 Investment in TE Connectivity Ltd. (NYSE:TEL)

Exchange Traded Concepts LLC purchased a new position in TE Connectivity Ltd. (NYSE:TEL) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,558 shares of the electronics maker’s stock, valued at approximately $235,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Simplicity Wealth LLC boosted its stake in TE Connectivity by 2.7% in the 2nd quarter. Simplicity Wealth LLC now owns 2,509 shares of the electronics maker’s stock worth $377,000 after purchasing an additional 67 shares during the period. Silvercrest Asset Management Group LLC boosted its position in shares of TE Connectivity by 2.3% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 2,977 shares of the electronics maker’s stock valued at $432,000 after acquiring an additional 68 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its position in TE Connectivity by 3.9% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,835 shares of the electronics maker’s stock worth $267,000 after buying an additional 69 shares during the last quarter. Manchester Capital Management LLC lifted its position in TE Connectivity by 5.4% in the first quarter. Manchester Capital Management LLC now owns 1,427 shares of the electronics maker’s stock worth $207,000 after buying an additional 73 shares during the last quarter. Finally, Miracle Mile Advisors LLC lifted its position in TE Connectivity by 0.6% in the first quarter. Miracle Mile Advisors LLC now owns 13,326 shares of the electronics maker’s stock worth $1,935,000 after buying an additional 75 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Stock Performance

Shares of TE Connectivity stock opened at $148.97 on Monday. The firm has a market cap of $45.27 billion, a P/E ratio of 13.40, a P/E/G ratio of 1.92 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 Ltd. has a 12 month low of $115.00 and a 12 month high of $159.98. The stock’s fifty day moving average price is $148.00 and its 200-day moving average price is $148.21.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.91 EPS 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%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the firm posted $1.77 earnings per share. On average, equities research analysts expect that TE Connectivity Ltd. will post 7.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TEL. StockNews.com began coverage on TE Connectivity in a research report on Tuesday, October 15th. They issued a “buy” rating for the company. Wells Fargo & Company lowered their price target on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a research report on Friday, September 20th. HSBC downgraded TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price target for the company. in a research report on Wednesday, July 24th. Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. Finally, Vertical Research started coverage on TE Connectivity in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $161.82.

Insider Activity at TE Connectivity

In related news, SVP Robert J. Ott sold 2,913 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total transaction of $450,320.67. Following the sale, the senior vice president now owns 25,504 shares of the company’s stock, valued at $3,942,663.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related 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 of the company’s stock, valued at $5,889,893.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $450,320.67. Following the sale, the senior vice president now directly owns 25,504 shares in the company, valued at approximately $3,942,663.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.86% of the stock is owned by corporate insiders.

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.