Alpha DNA Investment Management LLC Decreases Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Alpha DNA Investment Management LLC lessened its holdings in TE Connectivity Ltd. (NYSE:TEL) by 45.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,627 shares of the electronics maker’s stock after selling 6,277 shares during the quarter. Alpha DNA Investment Management LLC’s holdings in TE Connectivity were worth $1,147,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TEL. Simplicity Wealth LLC lifted its holdings in TE Connectivity by 2.7% in the second quarter. Simplicity Wealth LLC now owns 2,509 shares of the electronics maker’s stock valued at $377,000 after acquiring an additional 67 shares during the period. Silvercrest Asset Management Group LLC raised its holdings in TE Connectivity by 2.3% during the first quarter. Silvercrest Asset Management Group LLC now owns 2,977 shares of the electronics maker’s stock worth $432,000 after purchasing an additional 68 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its position in TE Connectivity by 3.9% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,835 shares of the electronics maker’s stock worth $267,000 after purchasing an additional 69 shares in the last quarter. Manchester Capital Management LLC increased its position in shares of TE Connectivity by 5.4% in the first quarter. Manchester Capital Management LLC now owns 1,427 shares of the electronics maker’s stock valued at $207,000 after buying an additional 73 shares in the last quarter. Finally, Miracle Mile Advisors LLC raised its stake in shares of TE Connectivity by 0.6% during the 1st quarter. Miracle Mile Advisors LLC now owns 13,326 shares of the electronics maker’s stock worth $1,935,000 after buying an additional 75 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at TE Connectivity

In other news, SVP Robert J. Ott sold 2,913 shares of the firm’s stock in a transaction dated 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 transaction was disclosed in a document filed with the SEC, which is accessible 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 stock was sold at an average price of $154.70, for a total transaction of $9,235,590.00. Following the transaction, the chief financial officer now owns 38,073 shares in the company, valued at $5,889,893.10. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Robert J. Ott sold 2,913 shares of the stock in a transaction dated 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 sale, 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. Over the last 90 days, insiders sold 71,363 shares of company stock valued at $11,042,161. Company insiders own 0.86% of the company’s stock.

TE Connectivity Trading Up 0.2 %

NYSE TEL opened at $148.78 on Wednesday. The company has a market cap of $45.22 billion, a P/E ratio of 13.61, a P/E/G ratio of 2.02 and a beta of 1.33. TE Connectivity Ltd. has a 12 month low of $115.00 and a 12 month high of $159.98. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.51 and a quick ratio of 0.99. The company has a 50-day moving average of $149.22 and a 200-day moving average of $147.59.

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TEL. StockNews.com started coverage on shares of TE Connectivity in a report on Saturday. They set a “buy” rating for the company. Wolfe Research raised shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. Truist Financial increased their target price on TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Robert W. Baird upped their price objective on TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Wells Fargo & Company dropped 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, September 20th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, TE Connectivity presently has an average rating of “Hold” and a consensus price target of $158.73.

About TE Connectivity

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.