Cornercap Investment Counsel Inc. Lowers Position in TE Connectivity Ltd. (NYSE:TEL)

Cornercap Investment Counsel Inc. trimmed its position in TE Connectivity Ltd. (NYSE:TEL) by 1.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,708 shares of the electronics maker’s stock after selling 85 shares during the period. Cornercap Investment Counsel Inc.’s holdings in TE Connectivity were worth $859,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. boosted its holdings 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 valued at $27,000 after buying an additional 100 shares in the last quarter. Versant Capital Management Inc boosted its stake 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 purchased a new stake in TE Connectivity in the second quarter worth about $30,000. Crewe Advisors LLC bought a new position in shares of TE Connectivity during the fourth quarter valued at approximately $33,000. Finally, Sachetta LLC purchased a new position in shares of TE Connectivity during the fourth quarter valued at approximately $34,000. 91.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TEL has been the topic of several recent research reports. Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. Truist Financial increased their target price on TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Hsbc Global Res raised TE Connectivity to a “hold” rating in a research report on Wednesday, July 24th. StockNews.com started coverage on shares of TE Connectivity in a research report on Friday. They set a “buy” rating on the stock. Finally, Bank of America lifted their target price on shares of TE Connectivity from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Eight research 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.com, the stock presently has an average rating of “Hold” and a consensus price target of $158.45.

TE Connectivity Stock Up 1.2 %

TEL opened at $145.84 on Friday. The stock has a market capitalization of $44.32 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 1.96 and a beta of 1.33. The firm has a 50 day moving average price of $150.14 and a 200-day moving average price of $147.26. TE Connectivity Ltd. has a twelve month low of $115.00 and a twelve month high of $159.98. 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 announced its earnings results 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 during 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 quarterly revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.77 EPS. Equities research analysts forecast that TE Connectivity Ltd. will post 7.57 earnings per share for the current year.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Aaron Kyle Stucki sold 8,750 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 20,556 shares in the company, valued at approximately $3,186,180. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Aaron Kyle Stucki sold 8,750 shares of the firm’s 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 owns 20,556 shares of the company’s stock, valued at $3,186,180. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 transaction 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. Over the last 90 days, insiders have sold 71,363 shares of company stock valued at $11,042,161. 0.86% of the stock is owned by company insiders.

About TE Connectivity

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.