Mill Creek Capital Advisors LLC Buys 673 Shares of TE Connectivity Ltd. (NYSE:TEL)

Mill Creek Capital Advisors LLC grew its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 12.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,944 shares of the electronics maker’s stock after acquiring an additional 673 shares during the quarter. Mill Creek Capital Advisors LLC’s holdings in TE Connectivity were worth $894,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Bank of Montreal Can increased its stake in TE Connectivity by 43.0% during the 2nd quarter. Bank of Montreal Can now owns 1,155,426 shares of the electronics maker’s stock valued at $174,955,000 after purchasing an additional 347,315 shares in the last quarter. Evergreen Capital Management LLC lifted its position in TE Connectivity by 2.4% in the 2nd quarter. Evergreen Capital Management LLC now owns 5,800 shares of the electronics maker’s stock valued at $873,000 after acquiring an additional 137 shares in the last quarter. Magnetar Financial LLC boosted its stake in TE Connectivity by 182.4% during the 2nd quarter. Magnetar Financial LLC now owns 22,954 shares of the electronics maker’s stock valued at $3,453,000 after purchasing an additional 14,827 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in shares of TE Connectivity by 62.5% in the 2nd quarter. Public Sector Pension Investment Board now owns 11,476 shares of the electronics maker’s stock worth $1,726,000 after purchasing an additional 4,415 shares in the last quarter. Finally, DRW Securities LLC bought a new stake in TE Connectivity in the 2nd quarter worth about $889,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Insider Activity at TE Connectivity

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 transaction, the insider now owns 20,556 shares of the company’s stock, valued at approximately $3,186,180. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other TE Connectivity news, insider Aaron Kyle Stucki sold 8,750 shares of the business’s stock in a transaction that occurred on 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 directly owns 20,556 shares of the company’s stock, valued at $3,186,180. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Heath A. Mitts sold 59,700 shares of TE Connectivity stock in a transaction dated Wednesday, July 31st. The shares were 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 approximately $5,889,893.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,363 shares of company stock valued at $11,042,161. Corporate insiders own 0.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Wolfe Research upgraded shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. Bank of America raised their price target on TE Connectivity from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Wells Fargo & Company reduced their price objective on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a research report on Friday. Hsbc Global Res raised TE Connectivity to a “hold” rating in a research report on Wednesday, July 24th. Finally, StockNews.com assumed coverage on TE Connectivity in a research note on Saturday. They set a “buy” rating for the company. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $158.73.

TE Connectivity Stock Performance

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

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.05. The business 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 revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.77 EPS. As a group, equities research analysts predict that TE Connectivity Ltd. will post 7.57 EPS for the current fiscal year.

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.