TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co trimmed its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 6.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,417 shares of the electronics maker’s stock after selling 1,851 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in TE Connectivity were worth $3,974,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Salem Investment Counselors Inc. grew its position in shares of TE Connectivity by 112.4% during the first quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock worth $27,000 after buying an additional 100 shares in the last quarter. Versant Capital Management Inc lifted its stake in TE Connectivity by 209.8% in the second quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock worth $28,000 after acquiring an additional 128 shares during the last quarter. Olistico Wealth LLC acquired a new position in TE Connectivity during the 2nd quarter worth approximately $30,000. Bank & Trust Co purchased a new stake in shares of TE Connectivity in the 2nd quarter valued at approximately $35,000. Finally, Sachetta LLC acquired a new stake in shares of TE Connectivity in the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Bank of America increased their target price on TE Connectivity from $165.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Hsbc Global Res raised TE Connectivity to a “hold” rating in a research report on Wednesday, July 24th. Vertical Research assumed coverage on TE Connectivity in a report on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 price target for the company. Robert W. Baird raised their price objective on shares of TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, HSBC downgraded shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price objective for the company. in a research report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $158.45.

Insiders Place Their Bets

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 transaction, the chief financial officer now owns 38,073 shares of the company’s stock, valued at $5,889,893.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, 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 directly owns 38,073 shares in the company, valued at approximately $5,889,893.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $450,320.67. Following the transaction, 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. In the last ninety days, insiders sold 71,363 shares of company stock valued at $11,042,161. 0.86% of the stock is owned by company insiders.

TE Connectivity Stock Down 1.3 %

TEL stock opened at $145.92 on Thursday. 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 market cap of $44.35 billion, a price-to-earnings ratio of 13.35, a price-to-earnings-growth ratio of 1.98 and a beta of 1.33. The company has a fifty day moving average price of $149.85 and a 200 day moving average price of $147.35.

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

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.