First Pacific Advisors LP Increases Holdings in TE Connectivity Ltd. (NYSE:TEL)

First Pacific Advisors LP boosted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 0.1% in the 2nd quarter, Holdings Channel reports. The firm owned 2,780,083 shares of the electronics maker’s stock after buying an additional 3,578 shares during the period. TE Connectivity accounts for about 5.7% of First Pacific Advisors LP’s holdings, making the stock its 6th largest position. First Pacific Advisors LP’s holdings in TE Connectivity were worth $418,208,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. National Bank of Canada FI lifted its stake in TE Connectivity by 18.0% in the 2nd quarter. National Bank of Canada FI now owns 92,583 shares of the electronics maker’s stock valued at $13,742,000 after purchasing an additional 14,090 shares during the last quarter. TD Asset Management Inc grew its position in TE Connectivity by 29.5% during the 2nd quarter. TD Asset Management Inc now owns 201,197 shares of the electronics maker’s stock worth $30,266,000 after acquiring an additional 45,851 shares during the last quarter. Cooke & Bieler LP increased its holdings in TE Connectivity by 3.3% in the 2nd quarter. Cooke & Bieler LP now owns 1,753,850 shares of the electronics maker’s stock worth $263,832,000 after purchasing an additional 55,777 shares in the last quarter. Founders Financial Securities LLC raised its position in TE Connectivity by 7.1% in the second quarter. Founders Financial Securities LLC now owns 2,288 shares of the electronics maker’s stock valued at $344,000 after purchasing an additional 152 shares during the last quarter. Finally, TIAA Trust National Association boosted its stake in shares of TE Connectivity by 4.7% during the second quarter. TIAA Trust National Association now owns 3,105 shares of the electronics maker’s stock valued at $467,000 after purchasing an additional 140 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Wells Fargo & Company lowered their price objective on TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 25th. Truist Financial raised their price target on shares of TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Hsbc Global Res raised shares of TE Connectivity to a “hold” rating in a research note on Wednesday, July 24th. Robert W. Baird lifted their target price on TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Bank of America increased their price target on TE Connectivity from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $158.45.

Insider Activity

In related news, insider Aaron Kyle Stucki sold 8,750 shares of TE Connectivity stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $155.00, for a total value of $1,356,250.00. Following the completion of the sale, the insider now 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 SEC, which is available at this hyperlink. In other TE Connectivity news, insider Aaron Kyle Stucki sold 8,750 shares of the business’s stock in a transaction on 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 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 hyperlink. Also, CFO Heath A. Mitts sold 59,700 shares of the business’s stock in a transaction on 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 owns 38,073 shares in the company, valued at $5,889,893.10. The disclosure for this sale can be found here. Insiders sold 71,363 shares of company stock valued at $11,042,161 in the last three months. Company insiders own 0.86% of the company’s stock.

TE Connectivity Stock Down 1.1 %

NYSE:TEL traded down $1.66 during trading hours on Thursday, hitting $146.02. 344,578 shares of the company traded hands, compared to its average volume of 1,885,729. TE Connectivity Ltd. has a one year low of $115.00 and a one year high of $159.98. The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.23. The company has a market cap of $44.38 billion, a PE ratio of 13.51, a PEG ratio of 2.08 and a beta of 1.33. The firm’s 50-day simple moving average is $150.76 and its 200-day simple moving average is $147.17.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results 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%. TE Connectivity’s quarterly revenue was up .1% compared to the same quarter last year. During the same period last year, the company posted $1.77 earnings per share. Equities analysts predict that TE Connectivity Ltd. will post 7.57 earnings per share for the current year.

TE Connectivity 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.