Rockport Wealth LLC Invests $236,000 in TE Connectivity Ltd. (NYSE:TEL)

Rockport Wealth LLC acquired a new position in shares of TE Connectivity Ltd. (NYSE:TEL) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,622 shares of the electronics maker’s stock, valued at approximately $236,000.

Other hedge funds also recently modified their holdings of the company. JFS Wealth Advisors LLC raised its position in TE Connectivity by 97.8% in the 4th quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock worth $26,000 after purchasing an additional 91 shares during the last quarter. Salem Investment Counselors Inc. raised its position in TE Connectivity by 112.4% in 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 during the last quarter. Godsey & Gibb Inc. raised its position in TE Connectivity by 103.6% in the 1st quarter. Godsey & Gibb Inc. now owns 224 shares of the electronics maker’s stock worth $33,000 after purchasing an additional 114 shares during the last quarter. Crewe Advisors LLC bought a new position in TE Connectivity in the 4th quarter worth approximately $33,000. Finally, Sachetta LLC bought a new position in TE Connectivity in the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Trading Down 1.0 %

Shares of TEL stock traded down $1.54 on Tuesday, hitting $151.40. The stock had a trading volume of 2,214,554 shares, compared to its average volume of 1,951,061. TE Connectivity Ltd. has a twelve month low of $115.00 and a twelve month high of $159.75. The firm has a market cap of $46.36 billion, a P/E ratio of 13.85, a PEG ratio of 2.06 and a beta of 1.33. The company has a current ratio of 1.45, a quick ratio of 0.92 and a debt-to-equity ratio of 0.24. The company has a fifty day moving average price of $150.91 and a two-hundred day moving average price of $144.67.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.03. The company had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.96 billion. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The firm’s revenue was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.65 EPS. As a group, analysts forecast that TE Connectivity Ltd. will post 7.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on TEL shares. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TE Connectivity in a report on Monday, April 1st. StockNews.com started coverage on shares of TE Connectivity in a report on Friday. They set a “buy” rating for the company. Jefferies Financial Group started coverage on shares of TE Connectivity in a report on Tuesday, April 9th. They set a “buy” rating and a $180.00 target price for the company. JPMorgan Chase & Co. lowered their target price on shares of TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Finally, Robert W. Baird lowered their target price on shares of TE Connectivity from $159.00 to $158.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $156.60.

Insider Buying and Selling

In related news, Director Mark Trudeau sold 7,044 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $141.49, for a total value of $996,655.56. Following the completion of the transaction, the director now directly owns 5,917 shares of the company’s stock, valued at approximately $837,196.33. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 shares were sold at an average price of $155.00, for a total transaction of $1,356,250.00. Following the sale, the insider now directly owns 20,556 shares of the company’s stock, valued at approximately $3,186,180. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark Trudeau sold 7,044 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $141.49, for a total transaction of $996,655.56. Following the sale, the director now directly owns 5,917 shares in the company, valued at $837,196.33. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,794 shares of company stock valued at $3,102,206. Company 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.