Bright Futures Wealth Management LLC. Buys Shares of 2,244 TE Connectivity Ltd. (NYSE:TEL)

Bright Futures Wealth Management LLC. acquired a new position in shares of TE Connectivity Ltd. (NYSE:TEL) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,244 shares of the electronics maker’s stock, valued at approximately $334,000.

Several other institutional investors also recently modified their holdings of the company. HM Payson & Co. grew its holdings in shares of TE Connectivity by 3.1% during the 1st quarter. HM Payson & Co. now owns 3,431 shares of the electronics maker’s stock worth $498,000 after purchasing an additional 103 shares in the last quarter. Cetera Advisors LLC grew its holdings in shares of TE Connectivity by 116.9% during the 1st quarter. Cetera Advisors LLC now owns 9,693 shares of the electronics maker’s stock worth $1,408,000 after purchasing an additional 5,224 shares in the last quarter. Cetera Investment Advisers boosted its stake in TE Connectivity by 129.2% in the 1st quarter. Cetera Investment Advisers now owns 40,922 shares of the electronics maker’s stock valued at $5,944,000 after buying an additional 23,068 shares in the last quarter. PGGM Investments boosted its stake in TE Connectivity by 0.7% in the 1st quarter. PGGM Investments now owns 75,733 shares of the electronics maker’s stock valued at $10,999,000 after buying an additional 550 shares in the last quarter. Finally, Swedbank AB acquired a new stake in TE Connectivity in the 1st quarter valued at $10,182,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Trading Down 3.3 %

Shares of TEL stock traded down $4.91 on Friday, reaching $145.40. 1,980,480 shares of the stock were exchanged, compared to its average volume of 2,001,858. The stock has a market cap of $44.19 billion, a PE ratio of 13.30, a P/E/G ratio of 2.04 and a beta of 1.33. TE Connectivity Ltd. has a one year low of $115.00 and a one year high of $159.98. 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 stock has a 50 day moving average price of $151.29 and a 200 day moving average price of $145.88.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.05. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. The company had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the previous year, the company posted $1.77 earnings per share. The firm’s quarterly revenue was up .1% on a year-over-year basis. Equities research analysts forecast that TE Connectivity Ltd. will post 7.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TEL has been the topic of several recent analyst reports. Vertical Research initiated coverage on TE Connectivity in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 price target on the stock. Robert W. Baird boosted their price target on TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Wells Fargo & Company decreased their price target on TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 25th. HSBC downgraded TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price objective for the company. in a research report on Wednesday, July 24th. Finally, StockNews.com started coverage on TE Connectivity in a research report on Sunday. They issued a “buy” rating for the company. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $158.45.

Insider Buying and Selling

In related news, SVP Robert J. Ott sold 2,913 shares of TE Connectivity stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total transaction 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 legal filing with the SEC, which can be accessed 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 dated Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total value of $450,320.67. Following the completion of the transaction, the senior vice president now directly owns 25,504 shares of the company’s stock, valued at $3,942,663.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the chief financial officer now directly owns 38,073 shares of the company’s stock, valued at $5,889,893.10. The disclosure for this sale can be found here. Insiders sold a total of 76,363 shares of company stock valued at $11,791,461 over the last three months. Company insiders own 0.86% of the company’s stock.

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.