Summit Trail Advisors LLC Acquires 314 Shares of TE Connectivity Ltd. (NYSE:TEL)

Summit Trail Advisors LLC lifted its holdings in TE Connectivity Ltd. (NYSE:TEL) by 8.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,040 shares of the electronics maker’s stock after buying an additional 314 shares during the period. Summit Trail Advisors LLC’s holdings in TE Connectivity were worth $608,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Salem Investment Counselors Inc. grew its position in TE Connectivity by 112.4% in the first quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock worth $27,000 after acquiring an additional 100 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of TE Connectivity by 209.8% in the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 128 shares during the period. Olistico Wealth LLC bought a new position in shares of TE Connectivity during the 2nd quarter valued at approximately $30,000. Bank & Trust Co bought a new position in shares of TE Connectivity during the 2nd quarter valued at approximately $35,000. Finally, Rise Advisors LLC bought a new stake in TE Connectivity in the first quarter worth $40,000. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Trading Down 0.9 %

Shares of NYSE TEL opened at $148.11 on Monday. TE Connectivity Ltd. has a twelve month low of $115.00 and a twelve month high of $159.98. 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 business has a fifty day simple moving average of $149.59 and a two-hundred day simple moving average of $147.49. The firm has a market cap of $45.36 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 1.98 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.05. The firm had revenue of $4 billion during 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%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the previous year, the company posted $1.77 earnings per share. Analysts expect that TE Connectivity Ltd. will post 7.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

TEL has been the topic of a number of analyst reports. Hsbc Global Res upgraded shares of TE Connectivity to a “hold” rating in a research report on Wednesday, July 24th. Wells Fargo & Company cut 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 report on Friday. Wolfe Research raised shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. Bank of America boosted their target price on TE Connectivity from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, Robert W. Baird increased their price target on TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, TE Connectivity presently has an average rating of “Hold” and a consensus price target of $158.73.

Insider Activity

In related news, 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 transaction, the senior vice president now owns 25,504 shares of the company’s stock, valued at $3,942,663.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Robert J. Ott sold 2,913 shares of TE Connectivity stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total value of $450,320.67. Following the transaction, the senior vice president now directly owns 25,504 shares in the company, valued at approximately $3,942,663.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Heath A. Mitts sold 59,700 shares of the company’s stock in a transaction 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 sale, the chief financial officer now owns 38,073 shares of the company’s stock, valued at $5,889,893.10. 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. Corporate insiders own 0.86% of the company’s stock.

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.