Exchange Traded Concepts LLC Makes New Investment in TE Connectivity Ltd. (NYSE:TEL)

Exchange Traded Concepts LLC purchased a new position in TE Connectivity Ltd. (NYSE:TEL) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 1,558 shares of the electronics maker’s stock, valued at approximately $235,000.

Several other institutional investors have also added to or reduced their stakes in the business. Simplicity Wealth LLC boosted 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 worth $377,000 after acquiring an additional 67 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its holdings in TE Connectivity by 2.3% in the first quarter. Silvercrest Asset Management Group LLC now owns 2,977 shares of the electronics maker’s stock worth $432,000 after acquiring an additional 68 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its holdings in TE Connectivity by 3.9% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,835 shares of the electronics maker’s stock worth $267,000 after acquiring an additional 69 shares in the last quarter. Manchester Capital Management LLC lifted its holdings in shares of TE Connectivity by 5.4% during the first quarter. Manchester Capital Management LLC now owns 1,427 shares of the electronics maker’s stock worth $207,000 after purchasing an additional 73 shares during the period. Finally, Miracle Mile Advisors LLC lifted its holdings in shares of TE Connectivity by 0.6% during the first quarter. Miracle Mile Advisors LLC now owns 13,326 shares of the electronics maker’s stock worth $1,935,000 after purchasing an additional 75 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Stock Up 0.7 %

Shares of TEL stock opened at $148.97 on Monday. The stock has a 50 day moving average of $148.00 and a 200 day moving average of $148.21. The company has a current ratio of 1.51, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23. The stock has a market cap of $45.27 billion, a P/E ratio of 13.40, a P/E/G ratio of 1.92 and a beta of 1.33. TE Connectivity Ltd. has a twelve month low of $115.00 and a twelve month high of $159.98.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.05. The business had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4.01 billion. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. The business’s revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.77 earnings per share. As a group, sell-side analysts expect that TE Connectivity Ltd. will post 7.56 EPS for the current year.

Insider Activity

In other news, CFO Heath A. Mitts sold 59,700 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $154.70, for a total value of $9,235,590.00. Following the completion of the sale, the chief financial officer now directly owns 38,073 shares in the company, valued at $5,889,893.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Heath A. Mitts sold 59,700 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 38,073 shares in the company, valued at approximately $5,889,893.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Robert J. Ott sold 2,913 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now owns 25,504 shares of the company’s stock, valued at $3,942,663.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on TEL. HSBC downgraded TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 target price for the company. in a report on Wednesday, July 24th. Bank of America decreased their target price on TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. The Goldman Sachs Group decreased their target price on TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Truist Financial lifted their target price on TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, StockNews.com began coverage on TE Connectivity in a report on Tuesday, October 15th. They set a “buy” rating for the company. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, TE Connectivity presently has a consensus rating of “Hold” and an average price target of $161.82.

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.