Creative Planning Acquires 1,237 Shares of TE Connectivity Ltd. (NYSE:TEL)

Creative Planning lifted its holdings in TE Connectivity Ltd. (NYSE:TEL) by 3.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,019 shares of the electronics maker’s stock after purchasing an additional 1,237 shares during the quarter. Creative Planning’s holdings in TE Connectivity were worth $6,345,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in TEL. Armstrong Advisory Group Inc. lifted its position in TE Connectivity by 208.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after buying an additional 150 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in TE Connectivity during the third quarter worth about $235,000. Carnegie Investment Counsel boosted its position in TE Connectivity by 2.5% during the third quarter. Carnegie Investment Counsel now owns 114,128 shares of the electronics maker’s stock valued at $17,233,000 after purchasing an additional 2,742 shares during the last quarter. Asio Capital LLC grew its stake in TE Connectivity by 8.2% in the third quarter. Asio Capital LLC now owns 23,892 shares of the electronics maker’s stock valued at $3,607,000 after purchasing an additional 1,809 shares in the last quarter. Finally, USA Financial Formulas bought a new position in TE Connectivity in the third quarter valued at approximately $807,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

Insider Activity at TE Connectivity

In other TE Connectivity news, CFO Heath A. Mitts sold 59,700 shares of TE Connectivity 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 completion of the sale, the chief financial officer now owns 38,073 shares in the company, valued at $5,889,893.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Robert J. Ott sold 2,913 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total transaction of $450,320.67. Following the sale, the senior vice president now directly owns 25,504 shares of the company’s stock, valued at approximately $3,942,663.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the chief financial officer now directly owns 38,073 shares of the company’s stock, valued at approximately $5,889,893.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by corporate insiders.

TE Connectivity Price Performance

TE Connectivity stock opened at $145.47 on Thursday. The company has a market capitalization of $44.21 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 1.92 and a beta of 1.33. The company has a current ratio of 1.51, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23. TE Connectivity Ltd. has a 12 month low of $115.00 and a 12 month high of $159.98. The stock’s 50 day moving average is $148.07 and its 200-day moving average is $148.23.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.05. The firm had revenue of $4 billion for 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 company’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the business earned $1.77 EPS. Equities research analysts expect that TE Connectivity Ltd. will post 7.56 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on TEL. Wolfe Research raised TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. Truist Financial increased their price target on shares of TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Bank of America lowered their price objective on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. The Goldman Sachs Group dropped their target price on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Finally, HSBC cut TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price target for the company. in a report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, TE Connectivity currently has an average rating of “Hold” and a consensus 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.