King Luther Capital Management Corp Sells 73 Shares of TE Connectivity Ltd. (NYSE:TEL)

King Luther Capital Management Corp decreased its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 0.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,635 shares of the electronics maker’s stock after selling 73 shares during the quarter. King Luther Capital Management Corp’s holdings in TE Connectivity were worth $2,051,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Simplicity Wealth LLC boosted its position in shares of TE Connectivity by 2.7% during the second quarter. Simplicity Wealth LLC now owns 2,509 shares of the electronics maker’s stock worth $377,000 after purchasing an additional 67 shares in the last quarter. Silvercrest Asset Management Group LLC grew its stake in TE Connectivity by 2.3% in the first 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 period. Dorsey & Whitney Trust CO LLC increased its holdings in shares of 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 acquiring an additional 69 shares in the last quarter. Manchester Capital Management LLC lifted its holdings in shares of TE Connectivity by 5.4% during the 1st quarter. Manchester Capital Management LLC now owns 1,427 shares of the electronics maker’s stock valued at $207,000 after purchasing an additional 73 shares in the last quarter. Finally, Miracle Mile Advisors LLC grew its position in shares of TE Connectivity by 0.6% in the 1st quarter. Miracle Mile Advisors LLC now owns 13,326 shares of the electronics maker’s stock valued at $1,935,000 after purchasing an additional 75 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.

Insider Activity

In related news, CFO Heath A. Mitts sold 59,700 shares of the business’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 transaction of $9,235,590.00. Following the transaction, the chief financial officer now directly owns 38,073 shares of the company’s stock, valued at approximately $5,889,893.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other TE Connectivity news, CFO Heath A. Mitts sold 59,700 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $154.70, for a total value of $9,235,590.00. Following the transaction, the chief financial officer now directly owns 38,073 shares in the company, valued at $5,889,893.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Robert J. Ott sold 2,913 shares of the 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 transaction, the senior vice president now directly owns 25,504 shares in the company, valued at $3,942,663.36. The disclosure for this sale can be found here. Insiders sold a total of 71,363 shares of company stock valued at $11,042,161 over the last three months. Insiders own 0.86% of the company’s stock.

TE Connectivity Price Performance

Shares of TEL opened at $148.11 on Friday. The company has a market cap of $45.36 billion, a price-to-earnings ratio of 13.55, a PEG 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. The company’s fifty day simple moving average is $149.59 and its 200 day simple moving average is $147.45. TE Connectivity Ltd. has a 1-year low of $115.00 and a 1-year high of $159.98.

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

Analyst Ratings Changes

A number of research analysts have weighed in on TEL shares. HSBC lowered shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price target on the stock. in a research note on Wednesday, July 24th. Wolfe Research raised shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. Wells Fargo & Company dropped their price target on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a research note on Friday. Hsbc Global Res raised TE Connectivity to a “hold” rating in a research report on Wednesday, July 24th. Finally, StockNews.com started coverage on TE Connectivity in a research report on Saturday. They issued a “buy” rating on the stock. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $158.73.

TE Connectivity 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.