TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. lowered its position in TE Connectivity Ltd. (NYSE:TEL) by 3.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,102,855 shares of the electronics maker’s stock after selling 33,783 shares during the quarter. Royal London Asset Management Ltd.’s holdings in TE Connectivity were worth $165,902,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Private Advisor Group LLC lifted its holdings in shares of TE Connectivity by 4.0% during the 4th quarter. Private Advisor Group LLC now owns 11,219 shares of the electronics maker’s stock valued at $1,576,000 after acquiring an additional 429 shares in the last quarter. Principal Securities Inc. purchased a new stake in shares of TE Connectivity in the fourth quarter worth about $420,000. JFS Wealth Advisors LLC raised its stake in shares of TE Connectivity by 97.8% during the fourth quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock valued at $26,000 after purchasing an additional 91 shares during the period. Forum Financial Management LP increased its stake in TE Connectivity by 3.0% during the 4th quarter. Forum Financial Management LP now owns 3,184 shares of the electronics maker’s stock worth $447,000 after buying an additional 94 shares during the period. Finally, Ieq Capital LLC grew its stake in TE Connectivity by 9.8% during the 4th quarter. Ieq Capital LLC now owns 14,070 shares of the electronics maker’s stock valued at $1,977,000 after purchasing an additional 1,260 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TEL. Bank of America boosted their price objective on shares of TE Connectivity from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Robert W. Baird increased their price objective on shares of TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Wolfe Research upgraded shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. Wells Fargo & Company cut their price objective on TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 25th. Finally, HSBC cut shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 target price for the company. in a report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, TE Connectivity has a consensus rating of “Hold” and a consensus target price of $158.45.

TE Connectivity Stock Performance

Shares of TE Connectivity stock opened at $144.82 on Tuesday. The firm has a market capitalization of $44.01 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 1.95 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 business has a 50-day simple moving average of $150.51 and a 200 day simple moving average of $147.27. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.51 and a quick ratio of 0.99.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.05. TE Connectivity had a net margin of 21.94% and a return on equity of 18.53%. The business had revenue of $4 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the business posted $1.77 EPS. TE Connectivity’s quarterly revenue was up .1% on a year-over-year basis. On average, research analysts anticipate that TE Connectivity Ltd. will post 7.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Heath A. Mitts sold 59,700 shares of TE Connectivity stock in a transaction that occurred 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 transaction, the chief financial officer now owns 38,073 shares of the company’s stock, valued at $5,889,893.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other TE Connectivity news, insider Aaron Kyle Stucki sold 8,750 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 20,556 shares in the company, valued at approximately $3,186,180. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Heath A. Mitts sold 59,700 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $154.70, for a total transaction of $9,235,590.00. Following 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 have sold 71,363 shares of company stock worth $11,042,161 in the last quarter. 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.