Daiwa Securities Group Inc. Grows Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Daiwa Securities Group Inc. increased its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 16.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 45,225 shares of the electronics maker’s stock after purchasing an additional 6,408 shares during the quarter. Daiwa Securities Group Inc.’s holdings in TE Connectivity were worth $6,803,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its holdings in shares of TE Connectivity by 184.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 43,867 shares of the electronics maker’s stock worth $6,163,000 after buying an additional 28,449 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in TE Connectivity by 17.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 361,166 shares of the electronics maker’s stock valued at $52,456,000 after acquiring an additional 52,824 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in TE Connectivity by 25.3% in the 1st quarter. Russell Investments Group Ltd. now owns 287,942 shares of the electronics maker’s stock worth $41,811,000 after purchasing an additional 58,219 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of TE Connectivity by 72.8% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,687 shares of the electronics maker’s stock worth $46,537,000 after purchasing an additional 135,548 shares during the last quarter. Finally, Manning & Napier Advisors LLC purchased a new stake in shares of TE Connectivity in the second quarter valued at approximately $15,847,000. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Stock Up 0.2 %

TE Connectivity stock opened at $144.24 on Thursday. The company has a market capitalization of $43.84 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 1.95 and a beta of 1.33. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.51. TE Connectivity Ltd. has a fifty-two week low of $115.00 and a fifty-two week high of $159.98. The firm has a 50 day moving average price of $150.30 and a 200 day moving average price of $147.26.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.05. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. The firm had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the previous year, the business earned $1.77 EPS. The company’s quarterly revenue was up .1% compared to the same quarter last year. Research analysts expect that TE Connectivity Ltd. will post 7.57 earnings per share for the current year.

Insider Transactions at TE Connectivity

In related news, insider Aaron Kyle Stucki sold 8,750 shares of the company’s stock in a transaction that occurred 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 directly 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 through this link. In related news, 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 transaction, the chief financial officer now directly owns 38,073 shares of the company’s stock, valued at approximately $5,889,893.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Aaron Kyle Stucki sold 8,750 shares of the stock in a transaction dated Thursday, July 11th. The shares were 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 directly owns 20,556 shares in the company, valued at approximately $3,186,180. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,363 shares of company stock valued at $11,042,161. 0.86% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on TEL. Hsbc Global Res upgraded TE Connectivity to a “hold” rating in a research report on Wednesday, July 24th. Vertical Research initiated coverage on shares of TE Connectivity in a research report on Tuesday, July 23rd. They set a “hold” rating and a $155.00 price target on the stock. Robert W. Baird raised their price objective on shares of TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Truist Financial boosted their target price on shares of TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Finally, Bank of America raised their price target on shares of TE Connectivity from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, TE Connectivity currently has a consensus rating of “Hold” and an average price target of $158.45.

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.