TE Connectivity Ltd. (NYSE:TEL) Holdings Lifted by Magnetar Financial LLC

Magnetar Financial LLC boosted its holdings in TE Connectivity Ltd. (NYSE:TEL) by 182.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,954 shares of the electronics maker’s stock after acquiring an additional 14,827 shares during the quarter. Magnetar Financial LLC’s holdings in TE Connectivity were worth $3,453,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TEL. Salem Investment Counselors Inc. boosted its stake in shares of TE Connectivity by 112.4% during the 1st 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 increased its position in shares of TE Connectivity by 209.8% in the second quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock worth $28,000 after acquiring an additional 128 shares in the last quarter. Olistico Wealth LLC acquired a new stake in shares of TE Connectivity during the second quarter valued at approximately $30,000. Bank & Trust Co purchased a new stake in shares of TE Connectivity in the 2nd quarter valued at approximately $35,000. Finally, Rise Advisors LLC purchased a new position in TE Connectivity during the 1st quarter worth approximately $40,000. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Trading Up 0.3 %

Shares of NYSE:TEL opened at $148.49 on Tuesday. TE Connectivity Ltd. has a 52-week low of $115.00 and a 52-week high of $159.98. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.51. The company has a market cap of $45.47 billion, a P/E ratio of 13.59, a P/E/G ratio of 1.98 and a beta of 1.33. The stock’s 50-day moving average is $149.43 and its 200-day moving average is $147.53.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.05. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $4.01 billion. TE Connectivity had a net margin of 21.94% and a return on equity of 18.53%. TE Connectivity’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.77 earnings per share. Equities research analysts predict that TE Connectivity Ltd. will post 7.57 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on TEL. Vertical Research started coverage on TE Connectivity in a research report on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 target price for the company. Hsbc Global Res raised TE Connectivity to a “hold” rating 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. Robert W. Baird boosted their price objective on shares of TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Truist Financial upped their price target on shares of TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $158.73.

Insiders Place Their Bets

In related news, SVP Robert J. Ott sold 2,913 shares of the firm’s 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 completion of the transaction, the senior vice president now directly owns 25,504 shares of the company’s stock, valued at $3,942,663.36. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other TE Connectivity news, CFO Heath A. Mitts sold 59,700 shares of the business’s stock in a transaction dated 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 document filed with the SEC, which is available through this link. Also, SVP Robert J. Ott sold 2,913 shares of TE Connectivity stock in a transaction that occurred on 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 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 quarter, insiders sold 71,363 shares of company stock worth $11,042,161. 0.86% of the stock is currently owned by company 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.