Wrapmanager Inc. Reduces Position in TE Connectivity Ltd. (NYSE:TEL)

Wrapmanager Inc. reduced its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 12.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,738 shares of the electronics maker’s stock after selling 795 shares during the period. Wrapmanager Inc.’s holdings in TE Connectivity were worth $863,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Salem Investment Counselors Inc. increased its stake in shares of TE Connectivity by 112.4% in the 1st quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock worth $27,000 after acquiring an additional 100 shares during the last quarter. Versant Capital Management Inc grew its position in TE Connectivity by 209.8% in the second quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock worth $28,000 after acquiring an additional 128 shares during the period. Olistico Wealth LLC acquired a new stake in TE Connectivity during the second quarter worth $30,000. Bank & Trust Co acquired a new position in shares of TE Connectivity in the 2nd quarter valued at $35,000. Finally, Crewe Advisors LLC purchased a new position in shares of TE Connectivity during the 4th quarter worth $33,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

Insider Activity

In related news, SVP Robert J. Ott sold 2,913 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total value of $450,320.67. Following the completion of the sale, the senior vice president now directly owns 25,504 shares of the company’s stock, valued at $3,942,663.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CFO Heath A. Mitts sold 59,700 shares of the 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 sale, the chief financial officer now owns 38,073 shares in the company, valued at $5,889,893.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Robert J. Ott sold 2,913 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total value of $450,320.67. Following the sale, the senior vice president now directly owns 25,504 shares of the company’s stock, valued at $3,942,663.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,363 shares of company stock worth $11,042,161. 0.86% of the stock is currently owned by insiders.

TE Connectivity Stock Up 1.2 %

Shares of NYSE:TEL opened at $145.84 on Friday. TE Connectivity Ltd. has a fifty-two week low of $115.00 and a fifty-two week high of $159.98. The firm’s 50 day moving average price is $150.14 and its 200 day moving average price is $147.26. 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 stock has a market cap of $44.32 billion, a price-to-earnings ratio of 13.34, a price-to-earnings-growth ratio of 1.96 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.05. The business had revenue of $4 billion for 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%. The company’s revenue was up .1% on a year-over-year basis. During the same period last year, the business earned $1.77 EPS. As a group, equities research analysts predict that TE Connectivity Ltd. will post 7.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 25th. Wolfe Research upgraded shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. Robert W. Baird lifted their target price on shares of TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Bank of America upped their price target on TE Connectivity from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, StockNews.com started coverage on TE Connectivity in a research note on Friday. They issued a “buy” rating for the company. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, TE Connectivity presently has an average rating of “Hold” and a consensus 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.