UNIVEST FINANCIAL Corp Trims Stock Position in TE Connectivity Ltd. (NYSE:TEL)

UNIVEST FINANCIAL Corp cut its stake in TE Connectivity Ltd. (NYSE:TEL) by 3.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,379 shares of the electronics maker’s stock after selling 876 shares during the period. UNIVEST FINANCIAL Corp’s holdings in TE Connectivity were worth $3,968,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its holdings in shares of TE Connectivity by 54.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker’s stock valued at $2,265,218,000 after purchasing an additional 5,526,230 shares during the period. Norges Bank acquired a new position in TE Connectivity during the fourth quarter worth $693,985,000. First Trust Advisors LP grew its holdings in TE Connectivity by 150.9% during the fourth quarter. First Trust Advisors LP now owns 2,143,423 shares of the electronics maker’s stock worth $301,151,000 after acquiring an additional 1,289,230 shares during the period. Assenagon Asset Management S.A. grew its holdings in TE Connectivity by 1,000.5% during the first quarter. Assenagon Asset Management S.A. now owns 1,335,477 shares of the electronics maker’s stock worth $193,965,000 after acquiring an additional 1,214,122 shares during the period. Finally, Wellington Management Group LLP grew its holdings in TE Connectivity by 12.5% during the fourth quarter. Wellington Management Group LLP now owns 3,630,003 shares of the electronics maker’s stock worth $510,015,000 after acquiring an additional 403,750 shares during the period. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Performance

NYSE:TEL opened at $143.38 on Friday. TE Connectivity Ltd. has a fifty-two week low of $115.00 and a fifty-two week high of $159.98. The firm’s 50 day moving average is $150.58 and its two-hundred day moving average is $147.17. The company has a market cap of $43.58 billion, a P/E ratio of 13.12, a P/E/G ratio of 2.00 and a beta of 1.33. 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 (NYSE:TEL) last announced its quarterly 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 company had revenue of $4 billion during 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%. The firm’s revenue was up .1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.77 earnings per share. Analysts expect that TE Connectivity Ltd. will post 7.57 EPS for the current year.

Analyst Upgrades and Downgrades

TEL has been the topic of a number of recent analyst reports. Bank of America upped their price objective on TE Connectivity from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. HSBC lowered TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price objective on the stock. in a report on Wednesday, July 24th. Truist Financial boosted their target price on TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Wells Fargo & Company decreased their target price on TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 25th. Finally, Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $158.45.

Insider Activity at TE Connectivity

In related news, insider Aaron Kyle Stucki sold 8,750 shares of the company’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 completion of 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 filing with the SEC, which can be accessed through the SEC website. In related news, SVP Robert J. Ott sold 2,913 shares of the company’s stock in a transaction 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 sale, the senior vice president now directly owns 25,504 shares of the company’s stock, valued at approximately $3,942,663.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Aaron Kyle Stucki sold 8,750 shares of the company’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 completion of the transaction, the insider now directly owns 20,556 shares of the company’s stock, valued at $3,186,180. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,363 shares of company stock worth $11,042,161. 0.86% of the stock is currently owned by corporate insiders.

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.