Parallel Advisors LLC Has $668,000 Holdings in TE Connectivity Ltd. (NYSE:TEL)

Parallel Advisors LLC boosted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 11.7% in the second quarter, HoldingsChannel reports. The firm owned 4,439 shares of the electronics maker’s stock after acquiring an additional 464 shares during the period. Parallel Advisors LLC’s holdings in TE Connectivity were worth $668,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its holdings in shares of TE Connectivity by 54.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker’s stock valued at $2,265,218,000 after buying an additional 5,526,230 shares during the last quarter. Norges Bank acquired a new stake in TE Connectivity in the 4th quarter valued at about $693,985,000. First Trust Advisors LP raised its stake in shares of TE Connectivity by 150.9% in the fourth quarter. First Trust Advisors LP now owns 2,143,423 shares of the electronics maker’s stock worth $301,151,000 after acquiring an additional 1,289,230 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of TE Connectivity by 12.5% during the fourth quarter. Wellington Management Group LLP now owns 3,630,003 shares of the electronics maker’s stock worth $510,015,000 after purchasing an additional 403,750 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its stake in shares of TE Connectivity by 698.8% during the first quarter. Los Angeles Capital Management LLC now owns 305,610 shares of the electronics maker’s stock valued at $44,387,000 after purchasing an additional 267,350 shares during the last quarter. Institutional investors own 91.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TEL shares. Vertical Research began coverage on TE Connectivity in a research report on Tuesday, July 23rd. They set a “hold” rating and a $155.00 target price for the company. Hsbc Global Res upgraded shares of TE Connectivity to a “hold” rating in a research report on Wednesday, July 24th. HSBC cut shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price target for the company. in a research report on Wednesday, July 24th. Wolfe Research upgraded shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. Finally, Bank of America lifted their target price on shares of TE Connectivity from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $158.45.

Insider Activity

In other news, CFO Heath A. Mitts sold 59,700 shares of the stock in a transaction dated Wednesday, July 31st. The shares were 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 of the company’s stock, valued at approximately $5,889,893.10. The transaction was disclosed in a legal filing 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 firm’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 transaction, the senior vice president now owns 25,504 shares in the company, valued at $3,942,663.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Heath A. Mitts sold 59,700 shares of TE Connectivity stock in a transaction 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 transaction, the chief financial officer now directly owns 38,073 shares in the company, valued at $5,889,893.10. The disclosure for this sale can be found here. Insiders sold 71,363 shares of company stock worth $11,042,161 in the last quarter. 0.86% of the stock is owned by corporate insiders.

TE Connectivity Trading Up 0.0 %

TEL opened at $145.87 on Tuesday. The company’s 50 day moving average price is $150.04 and its two-hundred day moving average price is $147.33. The firm has a market capitalization of $44.67 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 1.96 and a beta of 1.33. TE Connectivity Ltd. has a fifty-two week low of $115.00 and a fifty-two week 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.

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

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.