DRW Securities LLC Invests $889,000 in TE Connectivity Ltd. (NYSE:TEL)

DRW Securities LLC acquired a new stake in shares of TE Connectivity Ltd. (NYSE:TEL) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 5,909 shares of the electronics maker’s stock, valued at approximately $889,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TEL. 1832 Asset Management L.P. increased its stake in shares of TE Connectivity by 1.8% in the second quarter. 1832 Asset Management L.P. now owns 594,786 shares of the electronics maker’s stock worth $89,474,000 after purchasing an additional 10,574 shares in the last quarter. Profund Advisors LLC boosted its holdings in TE Connectivity by 5.7% in the 2nd quarter. Profund Advisors LLC now owns 6,312 shares of the electronics maker’s stock worth $950,000 after buying an additional 341 shares during the period. Summit Trail Advisors LLC increased its stake in TE Connectivity by 8.4% in the 2nd quarter. Summit Trail Advisors LLC now owns 4,040 shares of the electronics maker’s stock worth $608,000 after buying an additional 314 shares in the last quarter. Sei Investments Co. raised its holdings in TE Connectivity by 51.9% during the second quarter. Sei Investments Co. now owns 301,174 shares of the electronics maker’s stock valued at $45,305,000 after acquiring an additional 102,899 shares during the period. Finally, Pacer Advisors Inc. lifted its position in shares of TE Connectivity by 31.0% in the second quarter. Pacer Advisors Inc. now owns 35,518 shares of the electronics maker’s stock valued at $5,343,000 after acquiring an additional 8,401 shares in the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Aaron Kyle Stucki sold 8,750 shares of the firm’s stock in a transaction dated 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 owns 20,556 shares of the company’s stock, valued at $3,186,180. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other TE Connectivity news, insider Aaron Kyle Stucki sold 8,750 shares of the stock in a transaction dated 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 sale, the insider now directly owns 20,556 shares of the company’s stock, valued at $3,186,180. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Robert J. Ott sold 2,913 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total transaction of $450,320.67. Following the transaction, 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. In the last three months, insiders have sold 71,363 shares of company stock worth $11,042,161. 0.86% of the stock is currently owned by company insiders.

TE Connectivity Trading Down 0.9 %

Shares of TEL opened at $148.11 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.51 and a quick ratio of 0.99. The firm has a market capitalization 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 50-day moving average of $149.59 and a 200 day moving average of $147.49. 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 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%. TE Connectivity’s revenue was up .1% on a year-over-year basis. During the same period in the previous year, the company posted $1.77 EPS. On average, research analysts expect that TE Connectivity Ltd. will post 7.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on TEL shares. 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 Global Res raised shares of TE Connectivity to a “hold” rating in a report on Wednesday, July 24th. HSBC cut TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price objective on the stock. in a research note on Wednesday, July 24th. Bank of America raised their price objective on TE Connectivity from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Finally, StockNews.com assumed coverage on TE Connectivity in a research report on Saturday. They set a “buy” rating on the stock. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $158.73.

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.