Quarry LP Takes $108,000 Position in TE Connectivity Ltd. (NYSE:TEL)

Quarry LP bought a new stake in TE Connectivity Ltd. (NYSE:TEL) during the second quarter, Holdings Channel reports. The institutional investor bought 720 shares of the electronics maker’s stock, valued at approximately $108,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Simplicity Wealth LLC increased its stake in TE Connectivity by 2.7% in the second quarter. Simplicity Wealth LLC now owns 2,509 shares of the electronics maker’s stock valued at $377,000 after purchasing an additional 67 shares during the period. Silvercrest Asset Management Group LLC raised its stake in TE Connectivity by 2.3% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 2,977 shares of the electronics maker’s stock valued at $432,000 after acquiring an additional 68 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its position in TE Connectivity by 3.9% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,835 shares of the electronics maker’s stock worth $267,000 after acquiring an additional 69 shares during the period. Manchester Capital Management LLC grew 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 valued at $207,000 after purchasing an additional 73 shares during the last quarter. Finally, Miracle Mile Advisors LLC increased its holdings in shares of TE Connectivity by 0.6% in the first quarter. Miracle Mile Advisors LLC now owns 13,326 shares of the electronics maker’s stock valued at $1,935,000 after purchasing an additional 75 shares during the period. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Insider Activity at TE Connectivity

In related news, CFO Heath A. Mitts sold 59,700 shares of the 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 sale, 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 can be accessed through this hyperlink. 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 completion of the transaction, the chief financial officer now directly owns 38,073 shares in the company, valued at approximately $5,889,893.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Robert J. Ott sold 2,913 shares of the 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 transaction, the senior vice president now directly owns 25,504 shares in the company, valued at approximately $3,942,663.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,363 shares of company stock valued at $11,042,161. 0.86% of the stock is owned by corporate insiders.

TE Connectivity Trading Down 2.3 %

NYSE:TEL opened at $147.46 on Wednesday. TE Connectivity Ltd. has a 52-week low of $115.00 and a 52-week high of $159.98. The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.23. The stock has a fifty day simple moving average of $148.75 and a 200-day simple moving average of $147.90. The company has a market capitalization of $44.82 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 2.05 and a beta of 1.33.

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TEL shares. Wells Fargo & Company lowered their price objective on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a research report on Friday, September 20th. Bank of America lifted their target price on shares of TE Connectivity from $165.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, July 18th. StockNews.com assumed coverage on shares of TE Connectivity in a report on Sunday. They set a “buy” rating for the company. Vertical Research initiated coverage on TE Connectivity in a report on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 price objective on the stock. Finally, Truist Financial boosted their target price on TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, TE Connectivity has a consensus rating of “Hold” and a consensus price target of $160.42.

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.