Patten Group Inc. Acquires 168 Shares of TE Connectivity Ltd. (NYSE:TEL)

Patten Group Inc. boosted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 10.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,735 shares of the electronics maker’s stock after purchasing an additional 168 shares during the period. Patten Group Inc.’s holdings in TE Connectivity were worth $262,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Salem Investment Counselors Inc. raised its position in TE Connectivity by 112.4% during the 1st quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock worth $27,000 after purchasing an additional 100 shares during the last quarter. Versant Capital Management Inc raised its position in TE Connectivity by 209.8% during the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 128 shares during the last quarter. Olistico Wealth LLC bought a new position in TE Connectivity during the 2nd quarter worth $30,000. Bank & Trust Co bought a new position in TE Connectivity during the 2nd quarter worth $35,000. Finally, Rise Advisors LLC bought a new position in TE Connectivity during the 1st quarter worth $40,000. 91.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TEL. Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. StockNews.com began coverage on TE Connectivity in a report on Monday. They set a “buy” rating for the company. HSBC downgraded TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price target for the company. in a report on Wednesday, July 24th. Robert W. Baird increased their price target on TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Vertical Research started coverage on TE Connectivity in a report on Tuesday, July 23rd. They set a “hold” rating and a $155.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $161.82.

TE Connectivity Stock Performance

TE Connectivity stock opened at $146.39 on Friday. 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 company has a market capitalization of $44.49 billion, a PE ratio of 13.16, a P/E/G ratio of 1.83 and a beta of 1.33. The firm has a fifty day simple moving average of $147.62 and a two-hundred day simple moving average of $148.02. TE Connectivity Ltd. has a twelve month low of $115.00 and a twelve month high of $159.98.

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

Insider Activity

In other news, CFO Heath A. Mitts sold 59,700 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 38,073 shares of the company’s stock, valued at approximately $5,889,893.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Heath A. Mitts sold 59,700 shares of the business’s stock in a transaction dated 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Robert J. Ott sold 2,913 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.86% of the company’s stock.

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.