Heritage Family Offices LLP Increases Stake in TE Connectivity Ltd. (NYSE:TEL)

Heritage Family Offices LLP boosted its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 35.9% during the 3rd quarter, Holdings Channel reports. The firm owned 13,855 shares of the electronics maker’s stock after acquiring an additional 3,657 shares during the quarter. TE Connectivity comprises approximately 1.1% of Heritage Family Offices LLP’s investment portfolio, making the stock its 19th largest position. Heritage Family Offices LLP’s holdings in TE Connectivity were worth $2,092,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Russell Investments Group Ltd. increased its holdings in shares of TE Connectivity by 25.3% in the first quarter. Russell Investments Group Ltd. now owns 287,942 shares of the electronics maker’s stock valued at $41,811,000 after purchasing an additional 58,219 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in TE Connectivity by 17.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 361,166 shares of the electronics maker’s stock worth $52,456,000 after buying an additional 52,824 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in TE Connectivity by 72.8% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,687 shares of the electronics maker’s stock valued at $46,537,000 after acquiring an additional 135,548 shares during the period. Manning & Napier Advisors LLC purchased a new stake in shares of TE Connectivity in the 2nd quarter valued at $15,847,000. Finally, Nomura Holdings Inc. acquired a new stake in shares of TE Connectivity in the fourth quarter worth $879,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. StockNews.com began coverage on shares of TE Connectivity in a research report on Tuesday. They set a “buy” rating for the company. HSBC cut TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price objective for the company. in a report on Wednesday, July 24th. Wells Fargo & Company dropped their target price on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a report on Friday, September 20th. Wolfe Research raised TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. Finally, Robert W. Baird raised their price objective on shares of TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $161.82.

TE Connectivity Stock Performance

Shares of TEL stock opened at $144.80 on Thursday. The firm’s 50 day moving average price is $147.81 and its 200-day moving average price is $148.12. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.51. TE Connectivity Ltd. has a one year low of $115.00 and a one year high of $159.98. The firm has a market cap of $44.01 billion, a P/E ratio of 13.02, a P/E/G ratio of 1.91 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.91 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter last year, the firm posted $1.77 earnings per share. The business’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, equities research analysts predict that TE Connectivity Ltd. will post 7.56 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Heath A. Mitts sold 59,700 shares of the stock in a transaction on 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 in the company, valued at approximately $5,889,893.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other TE Connectivity news, SVP Robert J. Ott sold 2,913 shares of the business’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 completion of the transaction, the senior vice president now owns 25,504 shares in the company, valued at $3,942,663.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Heath A. Mitts sold 59,700 shares of the firm’s stock in a transaction on 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 trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.86% of the company’s stock.

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.