Van ECK Associates Corp Grows Stake in TE Connectivity Ltd. (NYSE:TEL)

Van ECK Associates Corp lifted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 15.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,851 shares of the electronics maker’s stock after acquiring an additional 7,146 shares during the quarter. Van ECK Associates Corp’s holdings in TE Connectivity were worth $7,951,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TEL. Simplicity Wealth LLC raised its position in shares of TE Connectivity by 2.7% in the 2nd 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 lifted its position 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 valued at $432,000 after buying an additional 68 shares during the period. Dorsey & Whitney Trust CO LLC grew its position in shares of TE Connectivity by 3.9% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,835 shares of the electronics maker’s stock worth $267,000 after buying an additional 69 shares during the period. Manchester Capital Management LLC increased its stake in shares of TE Connectivity by 5.4% in the 1st quarter. Manchester Capital Management LLC now owns 1,427 shares of the electronics maker’s stock worth $207,000 after acquiring an additional 73 shares in the last quarter. Finally, Miracle Mile Advisors LLC lifted its position in TE Connectivity by 0.6% during the 1st quarter. Miracle Mile Advisors LLC now owns 13,326 shares of the electronics maker’s stock valued at $1,935,000 after acquiring an additional 75 shares during the period. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Vertical Research began coverage on shares of TE Connectivity in a research note on Tuesday, July 23rd. They set a “hold” rating and a $155.00 target price for the company. Hsbc Global Res upgraded TE Connectivity to a “hold” rating in a research note on Wednesday, July 24th. Wells Fargo & Company cut their target price on TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 25th. Bank of America lifted their price target on TE Connectivity from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, HSBC downgraded shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price objective on the stock. in a research report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $158.45.

TE Connectivity Price Performance

Shares of TEL opened at $153.60 on Tuesday. The firm has a market cap of $46.68 billion, a PE ratio of 14.05, a P/E/G ratio of 2.08 and a beta of 1.33. TE Connectivity Ltd. has a 1-year low of $115.00 and a 1-year high of $159.98. 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 firm has a fifty day simple moving average of $150.78 and a two-hundred day simple moving average of $147.12.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.05. The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.01 billion. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. TE Connectivity’s revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.77 earnings per share. On average, equities analysts anticipate that TE Connectivity Ltd. will post 7.57 EPS for the current year.

Insider Buying and Selling

In other TE Connectivity news, SVP Robert J. Ott sold 2,913 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were 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 $3,942,663.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Robert J. Ott sold 2,913 shares of the company’s stock in a transaction 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 completion of the sale, 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 Securities & Exchange Commission, which is available at the SEC website. Also, CFO Heath A. Mitts sold 59,700 shares of TE Connectivity stock in a transaction on 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 transaction, the chief financial officer now owns 38,073 shares in the company, valued at $5,889,893.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,363 shares of company stock valued at $11,042,161. 0.86% of the stock is owned by insiders.

TE Connectivity Profile

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.