Independent Advisor Alliance boosted its stake in TE Connectivity Ltd. (NYSE:TEL) by 20.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 3,739 shares of the electronics maker’s stock after purchasing an additional 645 shares during the period. Independent Advisor Alliance’s holdings in TE Connectivity were worth $513,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of TEL. Isthmus Partners LLC acquired a new stake in TE Connectivity in the 2nd quarter valued at approximately $41,000. Liberty Wealth Management LLC grew its stake in shares of TE Connectivity by 13,772.0% in the second quarter. Liberty Wealth Management LLC now owns 6,936 shares of the electronics maker’s stock worth $51,000 after acquiring an additional 6,886 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in shares of TE Connectivity by 64.2% in the third quarter. Parkside Financial Bank & Trust now owns 399 shares of the electronics maker’s stock worth $55,000 after acquiring an additional 156 shares in the last quarter. GeoWealth Management LLC acquired a new position in shares of TE Connectivity in the second quarter worth $57,000. Finally, Parisi Gray Wealth Management acquired a new position in shares of TE Connectivity in the second quarter worth $74,000. Hedge funds and other institutional investors own 89.60% of the company’s stock.
In related news, SVP Robert J. Ott sold 8,737 shares of the business’s stock in a transaction on Wednesday, November 3rd. The shares were sold at an average price of $153.46, for a total value of $1,340,780.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Terrence R. Curtin sold 24,299 shares of the business’s stock in a transaction on Thursday, December 9th. The shares were sold at an average price of $158.06, for a total transaction of $3,840,699.94. The disclosure for this sale can be found here. 0.79% of the stock is owned by insiders.
Shares of TEL stock opened at $158.45 on Friday. The company has a current ratio of 1.56, a quick ratio of 1.02 and a debt-to-equity ratio of 0.34. The firm has a fifty day moving average price of $156.12 and a 200 day moving average price of $147.19. The company has a market cap of $51.70 billion, a P/E ratio of 23.34, a PEG ratio of 2.14 and a beta of 1.34. TE Connectivity Ltd. has a 12 month low of $116.87 and a 12 month high of $166.44.
TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, October 27th. The electronics maker reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.05. TE Connectivity had a net margin of 15.15% and a return on equity of 21.58%. The firm had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the previous year, the firm posted $1.16 earnings per share. The company’s revenue was up 17.1% compared to the same quarter last year. On average, equities analysts forecast that TE Connectivity Ltd. will post 7.03 EPS for the current year.
Several equities analysts have commented on TEL shares. Evercore ISI upgraded shares of TE Connectivity from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $160.00 to $180.00 in a research note on Wednesday, October 20th. Wolfe Research upgraded shares of TE Connectivity from a “peer perform” rating to an “outperform” rating and boosted their price target for the stock from $148.00 to $190.00 in a research note on Tuesday, November 9th. Finally, Morgan Stanley boosted their price target on shares of TE Connectivity from $149.00 to $162.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 15th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $156.33.
About TE Connectivity
TE Connectivity Ltd. engages in the design and manufacture of connectivity and sensors solutions. It operates through the following segments: Transportation, Industrial, and Communications Solutions. The Transportation Solutions segment offers products that are used in the automotive, commercial transportation, and sensors markets.
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