NorthCrest Asset Manangement LLC Acquires 969 Shares of TE Connectivity Ltd. (NYSE:TEL)

NorthCrest Asset Manangement LLC increased its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 3.6% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 28,221 shares of the electronics maker’s stock after purchasing an additional 969 shares during the period. NorthCrest Asset Manangement LLC’s holdings in TE Connectivity were worth $4,245,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of TEL. Price T Rowe Associates Inc. MD grew its position in shares of TE Connectivity by 54.9% in the first 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 purchasing an additional 5,526,230 shares during the last quarter. Norges Bank acquired a new position in shares of TE Connectivity in the fourth quarter valued at approximately $693,985,000. Massachusetts Financial Services Co. MA grew its position in shares of TE Connectivity by 2.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,632,809 shares of the electronics maker’s stock valued at $650,910,000 after purchasing an additional 111,340 shares during the last quarter. Wellington Management Group LLP grew its position in shares of TE Connectivity by 12.5% in the fourth quarter. Wellington Management Group LLP now owns 3,630,003 shares of the electronics maker’s stock valued at $510,015,000 after purchasing an additional 403,750 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of TE Connectivity by 13.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,835,064 shares of the electronics maker’s stock valued at $398,342,000 after purchasing an additional 343,205 shares during the last quarter. Institutional investors own 91.43% of the company’s stock.

Insider Activity at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 5,000 shares of the firm’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 value of $749,300.00. Following the transaction, the insider now owns 25,976 shares in the company, valued at $3,892,763.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Shadrak W. Kroeger sold 5,000 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $149.86, for a total value of $749,300.00. Following the completion of the sale, the insider now owns 25,976 shares in the company, valued at $3,892,763.36. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Heath A. Mitts sold 59,700 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now owns 38,073 shares in the company, valued at $5,889,893.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,363 shares of company stock valued at $11,791,461. 0.86% of the stock is owned by corporate insiders.

TE Connectivity Trading Down 0.5 %

Shares of NYSE:TEL traded down $0.74 during mid-day trading on Wednesday, hitting $145.69. The company had a trading volume of 258,171 shares, compared to its average volume of 1,938,788. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.51 and a quick ratio of 0.99. TE Connectivity Ltd. has a one year low of $115.00 and a one year high of $159.98. The firm has a fifty day moving average price of $150.53 and a 200 day moving average price of $146.31. The company has a market capitalization of $44.28 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 1.96 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last issued its 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 return on equity of 18.53% and a net margin of 21.94%. The firm’s revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.77 EPS. As a group, research analysts forecast that TE Connectivity Ltd. will post 7.56 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TEL. StockNews.com started coverage on TE Connectivity in a report on Monday. They set a “buy” rating on the stock. HSBC lowered shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 target price on the stock. in a report on Wednesday, July 24th. Robert W. Baird upped their price target on shares of TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Vertical Research began coverage on shares of TE Connectivity in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 price objective on the stock. Finally, Wells Fargo & Company cut their target price on TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 25th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, TE Connectivity has an average rating of “Hold” and an average price target of $158.45.

TE Connectivity Company 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.