TE Connectivity Ltd. (NYSE:TEL) Short Interest Up 64.8% in September

TE Connectivity Ltd. (NYSE:TEL) saw a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 5,110,000 shares, an increase of 64.8% from the September 15th total of 3,100,000 shares. Currently, 1.7% of the shares of the company are sold short. Based on an average trading volume of 1,690,000 shares, the days-to-cover ratio is presently 3.0 days.

Insider Activity

In other TE Connectivity news, CFO Heath A. Mitts sold 59,700 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $154.70, for a total value of $9,235,590.00. Following the completion of the transaction, the chief financial officer now owns 38,073 shares in the company, valued at approximately $5,889,893.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other TE Connectivity news, CFO Heath A. Mitts sold 59,700 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were 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 in the company, valued at approximately $5,889,893.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction, the senior vice president now owns 25,504 shares of the company’s stock, valued at approximately $3,942,663.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.86% of the company’s stock.

Institutional Trading of TE Connectivity

A number of hedge funds have recently bought and sold shares of TEL. Salem Investment Counselors Inc. increased its position in shares of TE Connectivity by 112.4% during the first quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock valued at $27,000 after purchasing an additional 100 shares during the period. 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 buying an additional 128 shares in the last quarter. Olistico Wealth LLC acquired a new position in shares of TE Connectivity in the 2nd quarter valued at $30,000. Armstrong Advisory Group Inc. lifted its holdings in shares of TE Connectivity by 208.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after acquiring an additional 150 shares during the period. Finally, Bank & Trust Co acquired a new stake in shares of TE Connectivity during the 2nd quarter valued at about $35,000. 91.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TEL. Bank of America dropped their price target on TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Hsbc Global Res upgraded shares of TE Connectivity to a “hold” rating in a report on Wednesday, July 24th. Wolfe Research raised shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. The Goldman Sachs Group cut their target price on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Finally, Robert W. Baird lifted their price target on TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $161.82.

TE Connectivity Stock Performance

TEL traded up $0.80 during trading on Monday, hitting $148.31. The stock had a trading volume of 1,314,082 shares, compared to its average volume of 1,855,177. The firm has a market cap of $45.07 billion, a PE ratio of 13.38, a P/E/G ratio of 1.89 and a beta of 1.33. The company has a current ratio of 1.51, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23. TE Connectivity has a 12 month low of $115.00 and a 12 month high of $159.98. The company has a 50 day simple moving average of $147.59 and a 200-day simple moving average of $148.12.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.91 EPS for the quarter, topping 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 return on equity of 18.53% and a net margin of 21.94%. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the company posted $1.77 earnings per share. Analysts expect that TE Connectivity will post 7.57 EPS for the current year.

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.