Forum Financial Management LP Increases Holdings in TE Connectivity Ltd. (NYSE:TEL)

Forum Financial Management LP lifted its position in TE Connectivity Ltd. (NYSE:TEL) by 4.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,311 shares of the electronics maker’s stock after purchasing an additional 127 shares during the period. Forum Financial Management LP’s holdings in TE Connectivity were worth $498,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. JFS Wealth Advisors LLC boosted its holdings in shares of TE Connectivity by 97.8% in the fourth quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock valued at $26,000 after purchasing an additional 91 shares during the period. Salem Investment Counselors Inc. lifted its holdings in TE Connectivity by 112.4% during the first quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock worth $27,000 after buying an additional 100 shares during the period. Versant Capital Management Inc lifted its holdings in TE Connectivity by 209.8% during the second quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock worth $28,000 after buying an additional 128 shares during the period. Olistico Wealth LLC purchased a new stake in TE Connectivity during the second quarter worth $30,000. Finally, Godsey & Gibb Inc. lifted its holdings in TE Connectivity by 103.6% during the first quarter. Godsey & Gibb Inc. now owns 224 shares of the electronics maker’s stock worth $33,000 after buying an additional 114 shares during the period. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TEL shares. Wells Fargo & Company lowered their target price on TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating for the company in a report on Tuesday, June 25th. Bank of America upped their target price on TE Connectivity from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. HSBC lowered TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 target price for the company. in a report on Wednesday, July 24th. Truist Financial upped their target price on TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, StockNews.com assumed coverage on TE Connectivity in a research report on Wednesday. They set a “buy” rating on the stock. Eight 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 presently has an average rating of “Hold” and an average target price of $158.45.

Insider Activity at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 5,000 shares of the firm’s 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 transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,892,763.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Shadrak W. Kroeger sold 5,000 shares of the firm’s 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 transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,892,763.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Robert J. Ott sold 2,913 shares of the firm’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 completion of the transaction, the senior vice president now directly owns 25,504 shares in the company, valued at $3,942,663.36. The disclosure for this sale can be found here. In the last three months, 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 Up 1.4 %

TEL stock opened at $153.60 on Friday. The company’s 50-day simple moving average is $150.70 and its 200-day simple moving average is $146.90. 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. The firm has a market cap of $46.68 billion, a P/E ratio of 14.05, a PEG ratio of 2.07 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.05. TE Connectivity had a net margin of 21.94% and a return on equity of 18.53%. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period in the prior year, the company posted $1.77 EPS. The company’s revenue for the quarter was up .1% on a year-over-year basis. As a group, equities analysts forecast that TE Connectivity Ltd. will post 7.57 EPS for the current fiscal year.

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.