Regentatlantic Capital LLC Increases Stake in TE Connectivity Ltd (NYSE:TEL)

Regentatlantic Capital LLC raised its position in TE Connectivity Ltd (NYSE:TEL) by 6.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 15,571 shares of the electronics maker’s stock after purchasing an additional 994 shares during the period. Regentatlantic Capital LLC’s holdings in TE Connectivity were worth $1,491,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in TEL. Cornerstone Advisors Inc. raised its holdings in shares of TE Connectivity by 17.1% during the 1st quarter. Cornerstone Advisors Inc. now owns 748 shares of the electronics maker’s stock worth $60,000 after acquiring an additional 109 shares during the period. Atlantic Union Bankshares Corp raised its holdings in shares of TE Connectivity by 0.3% during the 2nd quarter. Atlantic Union Bankshares Corp now owns 40,869 shares of the electronics maker’s stock worth $3,914,000 after acquiring an additional 112 shares during the period. Icon Wealth Partners LLC raised its holdings in shares of TE Connectivity by 3.0% during the 1st quarter. Icon Wealth Partners LLC now owns 3,948 shares of the electronics maker’s stock worth $319,000 after acquiring an additional 114 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of TE Connectivity by 2.9% during the 1st quarter. Quadrant Capital Group LLC now owns 4,961 shares of the electronics maker’s stock worth $395,000 after acquiring an additional 142 shares during the period. Finally, ETF Managers Group LLC raised its holdings in shares of TE Connectivity by 11.0% during the 1st quarter. ETF Managers Group LLC now owns 1,447 shares of the electronics maker’s stock worth $117,000 after acquiring an additional 143 shares during the period. Institutional investors own 91.33% of the company’s stock.

TEL has been the topic of several research analyst reports. Longbow Research lowered shares of TE Connectivity from a “buy” rating to a “neutral” rating and set a $90.66 price objective on the stock. in a report on Monday, June 17th. Morgan Stanley reduced their price objective on shares of TE Connectivity from $100.00 to $98.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Wells Fargo & Co lowered shares of TE Connectivity from an “outperform” rating to a “market perform” rating in a report on Thursday, July 25th. Cross Research lowered shares of TE Connectivity from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th. Finally, Goldman Sachs Group upgraded shares of TE Connectivity from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $92.00 to $105.00 in a report on Thursday, June 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. TE Connectivity presently has an average rating of “Hold” and an average target price of $92.21.

TEL traded down $0.67 on Friday, hitting $90.31. The company had a trading volume of 1,873,796 shares, compared to its average volume of 1,722,386. The stock has a market cap of $30.56 billion, a price-to-earnings ratio of 16.10, a P/E/G ratio of 1.54 and a beta of 1.20. TE Connectivity Ltd has a 1 year low of $69.84 and a 1 year high of $97.99. The stock’s fifty day simple moving average is $93.19. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.94 and a current ratio of 1.47.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.08. The firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.43 billion. TE Connectivity had a net margin of 22.94% and a return on equity of 18.33%. TE Connectivity’s revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.43 EPS. On average, equities research analysts predict that TE Connectivity Ltd will post 5.52 EPS for the current year.

In other TE Connectivity news, insider Steven T. Merkt sold 65,650 shares of TE Connectivity stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $93.55, for a total value of $6,141,557.50. Following the completion of the transaction, the insider now directly owns 89,854 shares of the company’s stock, valued at approximately $8,405,841.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas J. Lynch sold 124,400 shares of TE Connectivity stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $93.41, for a total value of $11,620,204.00. Following the completion of the transaction, the director now directly owns 290,316 shares of the company’s stock, valued at $27,118,417.56. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by insiders.

TE Connectivity Company Profile

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors solutions in Europe, the Middle East, Africa, the Asia–Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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