TE Connectivity Ltd. (NYSE:TEL) Short Interest Down 40.7% in October

TE Connectivity Ltd. (NYSE:TEL) was the target of a significant decline in short interest in October. As of October 15th, there was short interest totalling 3,030,000 shares, a decline of 40.7% from the September 30th total of 5,110,000 shares. Approximately 1.0% of the shares of the stock are sold short. Based on an average daily volume of 1,630,000 shares, the short-interest ratio is currently 1.9 days.

TE Connectivity Stock Up 1.5 %

Shares of NYSE:TEL opened at $149.13 on Friday. 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 has a 12-month low of $115.00 and a 12-month high of $159.98. The stock has a market cap of $45.67 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 1.89 and a beta of 1.33. The business’s 50 day moving average is $148.03 and its 200 day moving average is $148.22.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 EPS for the quarter, topping the consensus estimate of $1.86 by $0.05. The firm had revenue of $4 billion during the quarter, compared to analysts’ expectations 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 last year, the company posted $1.77 EPS. On average, sell-side analysts forecast that TE Connectivity will post 7.56 earnings per share for the current fiscal year.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, CFO Heath A. Mitts sold 59,700 shares of TE Connectivity stock in a transaction dated 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 transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 sale, the senior vice president now directly owns 25,504 shares of the company’s stock, 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 can be accessed through this link. Also, CFO Heath A. Mitts sold 59,700 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was 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 directly owns 38,073 shares in the company, valued at approximately $5,889,893.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Nicholas Hoffman & Company LLC. grew its stake in shares of TE Connectivity by 13.2% in the third quarter. Nicholas Hoffman & Company LLC. now owns 1,676 shares of the electronics maker’s stock worth $253,000 after acquiring an additional 195 shares during the period. Integrated Advisors Network LLC lifted its stake in shares of TE Connectivity by 49.7% during the 3rd quarter. Integrated Advisors Network LLC now owns 4,267 shares of the electronics maker’s stock worth $644,000 after acquiring an additional 1,416 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of TE Connectivity by 39.2% in the third quarter. Nisa Investment Advisors LLC now owns 93,360 shares of the electronics maker’s stock valued at $14,096,000 after purchasing an additional 26,270 shares during the period. Inscription Capital LLC bought a new position in TE Connectivity in the third quarter worth approximately $313,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of TE Connectivity by 13.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 33,516 shares of the electronics maker’s stock worth $5,061,000 after acquiring an additional 4,012 shares in the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on TEL shares. StockNews.com initiated coverage on shares of TE Connectivity in a research note on Wednesday. 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 target price for the company. in a research note on Wednesday, July 24th. Bank of America reduced their price objective on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Wells Fargo & Company reduced their price target on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a report on Friday, September 20th. Finally, Vertical Research began coverage on shares of TE Connectivity in a report on Tuesday, July 23rd. They set a “hold” rating and a $155.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, TE Connectivity currently has an average rating of “Hold” and a consensus target price of $161.82.

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.