2,155 Shares in TE Connectivity Ltd. (NYSE:TEL) Acquired by Sage Mountain Advisors LLC

Sage Mountain Advisors LLC bought a new position in shares of TE Connectivity Ltd. (NYSE:TEL) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,155 shares of the electronics maker’s stock, valued at approximately $324,000.

Several other hedge funds have also added to or reduced their stakes in the business. Tower Research Capital LLC TRC lifted its position in shares of TE Connectivity by 184.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 43,867 shares of the electronics maker’s stock worth $6,163,000 after purchasing an additional 28,449 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of TE Connectivity by 17.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 361,166 shares of the electronics maker’s stock worth $52,456,000 after purchasing an additional 52,824 shares during the period. Russell Investments Group Ltd. lifted its position in shares of TE Connectivity by 25.3% in the 1st quarter. Russell Investments Group Ltd. now owns 287,942 shares of the electronics maker’s stock worth $41,811,000 after purchasing an additional 58,219 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of TE Connectivity by 72.8% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,687 shares of the electronics maker’s stock worth $46,537,000 after purchasing an additional 135,548 shares during the period. Finally, Manning & Napier Advisors LLC acquired a new position in shares of TE Connectivity in the 2nd quarter worth approximately $15,847,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

TE Connectivity Stock Up 1.4 %

TEL stock traded up $2.11 during midday trading on Friday, reaching $153.60. 1,855,724 shares of the company’s stock traded hands, compared to its average volume of 1,896,864. The company has a market cap of $46.68 billion, a price-to-earnings ratio of 14.05, a P/E/G ratio of 2.07 and a beta of 1.33. The firm’s fifty day moving average price is $150.73 and its 200-day moving average price is $146.97. 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.

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

Analyst Ratings Changes

TEL has been the topic of a number of recent analyst reports. StockNews.com initiated coverage on shares of TE Connectivity in a research report on Wednesday. They issued a “buy” rating on the stock. Hsbc Global Res upgraded shares of TE Connectivity to a “hold” rating in a research note on Wednesday, July 24th. HSBC lowered 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 note on Wednesday, July 24th. Robert W. Baird lifted their price objective on shares of TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Bank of America lifted their price objective on shares of TE Connectivity from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $158.45.

Insider Transactions at TE Connectivity

In other news, CFO Heath A. Mitts sold 59,700 shares of the company’s 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 completion of the sale, the chief financial officer now owns 38,073 shares in the company, valued at approximately $5,889,893.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Heath A. Mitts sold 59,700 shares of the company’s 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 completion of the sale, the chief financial officer now owns 38,073 shares in the company, valued at approximately $5,889,893.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Aaron Kyle Stucki sold 8,750 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $155.00, for a total transaction of $1,356,250.00. Following the completion of the sale, the insider now owns 20,556 shares of the company’s stock, valued at approximately $3,186,180. The disclosure for this sale can be found here. Insiders sold a total of 76,363 shares of company stock worth $11,791,461 in the last quarter. 0.86% of the stock is currently owned by corporate insiders.

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.