Sumitomo Mitsui DS Asset Management Company Ltd Acquires 796 Shares of TE Connectivity Ltd. (NYSE:TEL)

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in TE Connectivity Ltd. (NYSE:TEL) by 2.6% in the second quarter, HoldingsChannel.com reports. The firm owned 31,473 shares of the electronics maker’s stock after purchasing an additional 796 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in TE Connectivity were worth $4,734,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. iA Global Asset Management Inc. boosted its stake in shares of TE Connectivity by 11.7% in the second quarter. iA Global Asset Management Inc. now owns 21,795 shares of the electronics maker’s stock valued at $3,279,000 after buying an additional 2,276 shares during the period. Lee Danner & Bass Inc. bought a new stake in shares of TE Connectivity during the 2nd quarter valued at $453,000. Azzad Asset Management Inc. ADV lifted its position in shares of TE Connectivity by 0.7% during the 2nd quarter. Azzad Asset Management Inc. ADV now owns 18,039 shares of the electronics maker’s stock valued at $2,714,000 after acquiring an additional 132 shares during the period. Signaturefd LLC grew its holdings in shares of TE Connectivity by 1.9% during the 2nd quarter. Signaturefd LLC now owns 6,922 shares of the electronics maker’s stock worth $1,041,000 after purchasing an additional 129 shares in the last quarter. Finally, KCM Investment Advisors LLC bought a new position in shares of TE Connectivity in the second quarter worth $1,894,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TEL shares. Bank of America increased their price objective on shares of TE Connectivity from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Hsbc Global Res raised shares of TE Connectivity to a “hold” rating in a research note on Wednesday, July 24th. StockNews.com started coverage on TE Connectivity in a research note on Wednesday. They set a “buy” rating for the company. Truist Financial raised their target price on TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Finally, HSBC downgraded TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price objective for the company. in a research report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, TE Connectivity currently has a consensus rating of “Hold” and a consensus price target of $158.45.

TE Connectivity Price Performance

TE Connectivity stock opened at $153.60 on Friday. The stock has a 50-day moving average price of $150.73 and a two-hundred day moving average price of $146.97. TE Connectivity Ltd. has a 12 month low of $115.00 and a 12 month high of $159.98. The company has a market capitalization of $46.68 billion, a PE ratio of 14.05, a P/E/G ratio of 2.08 and a beta of 1.33. The company has a current ratio of 1.51, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share (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 last year, the business earned $1.77 EPS. The firm’s quarterly revenue was up .1% on a year-over-year basis. Analysts expect that TE Connectivity Ltd. will post 7.57 EPS for the current year.

Insider Transactions at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 5,000 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $149.86, for a total value of $749,300.00. Following the completion of the sale, the insider now directly owns 25,976 shares in the company, valued at $3,892,763.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Heath A. Mitts sold 59,700 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 38,073 shares in the company, valued at $5,889,893.10. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Shadrak W. Kroeger sold 5,000 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $149.86, for a total transaction of $749,300.00. Following the completion of the transaction, the insider now owns 25,976 shares in the company, valued at approximately $3,892,763.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,363 shares of company stock worth $11,791,461. Company insiders own 0.86% of the company’s stock.

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.