Calamos Advisors LLC Lowers Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Calamos Advisors LLC reduced its stake in TE Connectivity Ltd. (NYSE:TEL) by 3.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 70,757 shares of the electronics maker’s stock after selling 2,466 shares during the period. Calamos Advisors LLC’s holdings in TE Connectivity were worth $10,644,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of TEL. Price T Rowe Associates Inc. MD lifted its holdings in shares of TE Connectivity by 54.9% in the 1st 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 period. Norges Bank acquired a new stake in shares of TE Connectivity in the 4th quarter valued at approximately $693,985,000. First Trust Advisors LP lifted its holdings in shares of TE Connectivity by 150.9% in the 4th quarter. First Trust Advisors LP now owns 2,143,423 shares of the electronics maker’s stock valued at $301,151,000 after buying an additional 1,289,230 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of TE Connectivity by 1,000.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,335,477 shares of the electronics maker’s stock valued at $193,965,000 after buying an additional 1,214,122 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of TE Connectivity by 12.5% in the 4th quarter. Wellington Management Group LLP now owns 3,630,003 shares of the electronics maker’s stock valued at $510,015,000 after buying an additional 403,750 shares during the period. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TEL shares. Bank of America raised their price target on TE Connectivity from $165.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Robert W. Baird lifted their price objective on TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. StockNews.com initiated coverage on TE Connectivity in a report on Tuesday, August 20th. They set a “buy” rating for the company. HSBC cut TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price objective for the company. in a report on Wednesday, July 24th. Finally, Vertical Research initiated coverage on TE Connectivity in a report on Tuesday, July 23rd. They set a “hold” rating and a $155.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, TE Connectivity currently has a consensus rating of “Hold” and a consensus target price of $158.45.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 5,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $149.86, for a total transaction of $749,300.00. Following the completion of the sale, the insider now owns 25,976 shares of the company’s stock, valued at $3,892,763.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other TE Connectivity news, SVP Robert J. Ott sold 2,913 shares of the business’s stock in a transaction dated 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 in the company, valued at $3,942,663.36. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Shadrak W. Kroeger sold 5,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $149.86, for a total value of $749,300.00. Following the transaction, the insider now owns 25,976 shares in the company, valued at approximately $3,892,763.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 76,363 shares of company stock valued at $11,791,461. Company insiders own 0.86% of the company’s stock.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $153.08 on Monday. The company has a market cap of $46.88 billion, a P/E ratio of 14.01, a P/E/G ratio of 2.03 and a beta of 1.33. The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.23. TE Connectivity Ltd. has a 52 week low of $115.00 and a 52 week high of $159.98. The business has a fifty day simple moving average of $150.62 and a 200-day simple moving average of $146.72.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data 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 return on equity of 18.53% and a net margin of 21.94%. The business had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the previous year, the business earned $1.77 earnings per share. The business’s revenue for the quarter was up .1% on a year-over-year basis. Equities research analysts forecast that TE Connectivity Ltd. will post 7.57 EPS 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.