Net Worth Advisory Group Acquires New Stake in TE Connectivity Ltd. (NYSE:TEL)

Net Worth Advisory Group bought a new position in shares of TE Connectivity Ltd. (NYSE:TEL) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 2,020 shares of the electronics maker’s stock, valued at approximately $305,000.

Several other institutional investors and hedge funds also recently made changes to their positions in TEL. Salem Investment Counselors Inc. boosted its stake in shares of TE Connectivity by 112.4% in the 1st quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock valued at $27,000 after purchasing an additional 100 shares during the last quarter. Ballentine Partners LLC raised its position in shares of TE Connectivity by 29.6% in the 1st quarter. Ballentine Partners LLC now owns 4,532 shares of the electronics maker’s stock worth $658,000 after acquiring an additional 1,036 shares in the last quarter. Riverview Trust Co acquired a new position in shares of TE Connectivity in the 1st quarter valued at about $49,000. Atlas Capital Advisors LLC boosted its position in shares of TE Connectivity by 3.6% during the 1st quarter. Atlas Capital Advisors LLC now owns 8,654 shares of the electronics maker’s stock valued at $1,257,000 after purchasing an additional 300 shares in the last quarter. Finally, Sunbelt Securities Inc. grew its stake in TE Connectivity by 5,265.0% during the first quarter. Sunbelt Securities Inc. now owns 1,073 shares of the electronics maker’s stock worth $156,000 after purchasing an additional 1,053 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.

Insider Activity

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

Analyst Ratings Changes

Several analysts have recently commented on TEL shares. Wells Fargo & Company reduced their price objective on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a research report on Friday, September 20th. Vertical Research assumed coverage on shares of TE Connectivity in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 price target for the company. Truist Financial raised their target price on TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Hsbc Global Res raised TE Connectivity to a “hold” rating in a research note on Wednesday, July 24th. Finally, HSBC lowered TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price target on the stock. in a report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, TE Connectivity has an average rating of “Hold” and a consensus price target of $161.82.

TE Connectivity Trading Up 0.7 %

Shares of TE Connectivity stock opened at $148.97 on Monday. The company has a market capitalization of $45.27 billion, a P/E ratio of 13.40, a price-to-earnings-growth ratio of 1.92 and a beta of 1.33. The stock has a fifty day simple moving average of $148.00 and a 200 day simple moving average of $148.21. TE Connectivity Ltd. has a 12-month low of $115.00 and a 12-month 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.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.05. TE Connectivity had a net margin of 21.94% and a return on equity of 18.53%. The firm had revenue of $4 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the prior year, the business posted $1.77 EPS. The business’s revenue was up .1% compared to the same quarter last year. On average, sell-side analysts anticipate that TE Connectivity Ltd. will post 7.56 earnings per share for the current fiscal 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.