Montag & Caldwell LLC Has $1.11 Million Position in TE Connectivity Ltd. (NYSE:TEL)

Montag & Caldwell LLC lifted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 38.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 7,391 shares of the electronics maker’s stock after buying an additional 2,056 shares during the period. Montag & Caldwell LLC’s holdings in TE Connectivity were worth $1,112,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of TEL. Salem Investment Counselors Inc. raised its stake in shares of 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 in the last quarter. Versant Capital Management Inc raised its position 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 acquiring an additional 128 shares in the last quarter. Olistico Wealth LLC acquired a new position in shares of TE Connectivity during the 2nd quarter worth about $30,000. Bank & Trust Co bought a new stake in shares of TE Connectivity in the 2nd quarter valued at about $35,000. Finally, Crewe Advisors LLC acquired a new stake in TE Connectivity in the 4th quarter valued at about $33,000. Institutional investors own 91.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on TEL. Bank of America upped their price objective on TE Connectivity from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Wolfe Research raised shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. Vertical Research began coverage on shares of TE Connectivity in a research report on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 price objective on the stock. Truist Financial upped their price target on shares of TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Finally, Wells Fargo & Company reduced their price objective 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. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, TE Connectivity has an average rating of “Hold” and a consensus target price of $158.45.

Insider Transactions at TE Connectivity

In related news, insider Aaron Kyle Stucki sold 8,750 shares of TE Connectivity stock in a transaction that occurred on Thursday, July 11th. The shares were 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 of the company’s stock, valued at $3,186,180. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Heath A. Mitts sold 59,700 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $154.70, for a total value of $9,235,590.00. Following the sale, the chief financial officer now directly owns 38,073 shares of the company’s stock, valued at $5,889,893.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Aaron Kyle Stucki sold 8,750 shares of TE Connectivity stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $155.00, for a total value of $1,356,250.00. Following the completion of the transaction, the insider now owns 20,556 shares in the company, valued at approximately $3,186,180. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,363 shares of company stock valued at $11,042,161. Company insiders own 0.86% of the company’s stock.

TE Connectivity Trading Up 1.2 %

Shares of NYSE:TEL opened at $145.84 on Monday. The company has a market capitalization of $44.32 billion, a P/E ratio of 13.34, a P/E/G ratio of 1.96 and a beta of 1.33. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.51 and a quick ratio of 0.99. The business’s 50 day simple moving average is $150.14 and its 200 day simple moving average is $147.31. TE Connectivity Ltd. has a 1 year low of $115.00 and a 1 year high of $159.98.

TE Connectivity (NYSE:TEL) last posted its quarterly 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 the consensus estimate of $4.01 billion. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. TE Connectivity’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.77 earnings per share. On average, research analysts anticipate 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.