Victory Capital Management Inc. Trims Stake in TE Connectivity Ltd. (NYSE:TEL)

Victory Capital Management Inc. lowered its position in TE Connectivity Ltd. (NYSE:TEL) by 4.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 145,656 shares of the electronics maker’s stock after selling 7,289 shares during the period. Victory Capital Management Inc.’s holdings in TE Connectivity were worth $21,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of TEL. MCF Advisors LLC boosted its holdings in TE Connectivity by 2,745.5% during the 2nd quarter. MCF Advisors LLC now owns 313 shares of the electronics maker’s stock valued at $47,000 after acquiring an additional 302 shares during the period. Waverton Investment Management Ltd lifted its position in shares of TE Connectivity by 3.3% during the second quarter. Waverton Investment Management Ltd now owns 1,304,360 shares of the electronics maker’s stock worth $196,169,000 after purchasing an additional 41,894 shares during the last quarter. National Bank of Canada FI boosted its stake in shares of TE Connectivity by 18.0% during the second 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 period. TD Asset Management Inc grew its holdings in shares of TE Connectivity by 29.5% in the second quarter. TD Asset Management Inc now owns 201,197 shares of the electronics maker’s stock worth $30,266,000 after purchasing an additional 45,851 shares during the last quarter. Finally, Cooke & Bieler LP increased its stake 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 buying an additional 55,777 shares during the period. Institutional investors own 91.43% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Robert W. Baird boosted their price objective on shares of TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. HSBC lowered TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price target for the company. in a report on Wednesday, July 24th. Hsbc Global Res upgraded TE Connectivity to a “hold” rating in a report on Wednesday, July 24th. Wells Fargo & Company decreased their target price 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, StockNews.com started coverage on TE Connectivity in a research report on Thursday, September 5th. They set a “buy” rating on the stock. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $158.45.

TE Connectivity Trading Up 0.2 %

Shares of NYSE TEL opened at $144.24 on Thursday. The business has a fifty day moving average price of $150.30 and a 200 day moving average price of $147.26. TE Connectivity Ltd. has a 1-year low of $115.00 and a 1-year high of $159.98. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.51 and a quick ratio of 0.99. The stock has a market capitalization of $43.84 billion, a P/E ratio of 13.20, a price-to-earnings-growth ratio of 1.95 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.91 EPS for the quarter, beating the consensus estimate 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 period in the prior year, the firm posted $1.77 earnings per share. The company’s quarterly revenue was up .1% on a year-over-year basis. Equities research analysts expect that TE Connectivity Ltd. will post 7.57 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Robert J. Ott sold 2,913 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total value of $450,320.67. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Heath A. Mitts sold 59,700 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Robert J. Ott sold 2,913 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total transaction of $450,320.67. Following the completion of the transaction, the senior vice president now owns 25,504 shares in the company, valued at approximately $3,942,663.36. The disclosure for this sale can be found here. Insiders have sold a total of 71,363 shares of company stock worth $11,042,161 in the last ninety days. 0.86% of the stock is owned by insiders.

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.