Ascent Group LLC Purchases New Stake in TE Connectivity Ltd. (NYSE:TEL)

Ascent Group LLC acquired a new position in shares of TE Connectivity Ltd. (NYSE:TEL) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 9,033 shares of the electronics maker’s stock, valued at approximately $1,312,000.

A number of other large investors also recently added to or reduced their stakes in the business. Dorsey & Whitney Trust CO LLC lifted its stake in TE Connectivity by 3.9% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,835 shares of the electronics maker’s stock valued at $267,000 after buying an additional 69 shares during the period. Manchester Capital Management LLC raised its position 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 acquiring an additional 73 shares during the period. Lee Danner & Bass Inc. boosted its stake in TE Connectivity by 2.5% during the 4th quarter. Lee Danner & Bass Inc. now owns 3,085 shares of the electronics maker’s stock worth $433,000 after acquiring an additional 74 shares during the last quarter. Miracle Mile Advisors LLC increased its stake in 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 in the last quarter. Finally, Argonautica Private Wealth Management Inc. raised its holdings in TE Connectivity by 3.2% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 2,479 shares of the electronics maker’s stock worth $348,000 after purchasing an additional 78 shares during the period. 91.43% of the stock is currently owned by institutional investors and hedge funds.

TE Connectivity Stock Down 1.0 %

TEL traded down $1.53 during trading hours on Tuesday, hitting $154.24. 187,811 shares of the company’s stock were exchanged, compared to its average volume of 1,952,760. The stock has a market cap of $47.23 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 2.13 and a beta of 1.33. TE Connectivity Ltd. has a 1-year low of $115.00 and a 1-year high of $159.98. The stock’s 50-day moving average is $151.31 and its two-hundred day moving average is $145.44. 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 (NYSE:TEL) last posted its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.91 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 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% on a year-over-year basis. During the same period in the prior year, the business posted $1.77 EPS. Sell-side analysts predict that TE Connectivity Ltd. will post 7.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TEL shares. Bank of America boosted their price target 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. JPMorgan Chase & Co. lowered their price target on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Jefferies Financial Group assumed coverage on TE Connectivity in a research report on Tuesday, April 9th. They set a “buy” rating and a $180.00 price target on the stock. HSBC lowered TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price objective for the company. in a research report on Wednesday, July 24th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of TE Connectivity in a research note on Monday, April 1st. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, TE Connectivity currently has a consensus rating of “Hold” and an average target price of $158.45.

Insiders Place Their Bets

In other TE Connectivity news, insider Aaron Kyle Stucki sold 8,750 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 20,556 shares of the company’s stock, valued at approximately $3,186,180. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other TE Connectivity news, insider Shadrak W. Kroeger sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $149.86, for a total transaction of $749,300.00. Following the transaction, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,892,763.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Aaron Kyle Stucki sold 8,750 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $155.00, for a total value of $1,356,250.00. Following the transaction, the insider now directly owns 20,556 shares in the company, valued at $3,186,180. The disclosure for this sale can be found here. Insiders own 0.86% of the company’s stock.

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.