Rhumbline Advisers Has $55.05 Million Position in TE Connectivity Ltd. (NYSE:TEL)

Rhumbline Advisers grew its holdings in TE Connectivity Ltd. (NYSE:TEL) by 4.6% during the second quarter, Holdings Channel reports. The firm owned 365,929 shares of the electronics maker’s stock after acquiring an additional 16,100 shares during the quarter. Rhumbline Advisers’ holdings in TE Connectivity were worth $55,047,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its stake in 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 buying an additional 5,526,230 shares during the period. Norges Bank acquired a new position in shares of TE Connectivity during the 4th quarter valued at $693,985,000. Massachusetts Financial Services Co. MA boosted its stake in TE Connectivity by 2.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,632,809 shares of the electronics maker’s stock worth $650,910,000 after acquiring an additional 111,340 shares in the last quarter. Wellington Management Group LLP grew its holdings in TE Connectivity by 12.5% in the fourth quarter. Wellington Management Group LLP now owns 3,630,003 shares of the electronics maker’s stock worth $510,015,000 after purchasing an additional 403,750 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in TE Connectivity by 13.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,835,064 shares of the electronics maker’s stock valued at $398,342,000 after purchasing an additional 343,205 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Vertical Research started coverage on shares of TE Connectivity in a research report on Tuesday, July 23rd. They set a “hold” rating and a $155.00 price objective on the stock. HSBC cut TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price objective for the company. in a research note on Wednesday, July 24th. Wells Fargo & Company lowered their price objective on shares of TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 25th. Robert W. Baird lifted 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. Finally, Truist Financial upped their target price on shares of TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, TE Connectivity has a consensus rating of “Hold” and an average target price of $158.45.

Insider Activity

In related news, insider Aaron Kyle Stucki sold 8,750 shares of TE Connectivity stock in a transaction that occurred on 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 sale, the insider now owns 20,556 shares of the company’s stock, valued at approximately $3,186,180. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Heath A. Mitts sold 59,700 shares of TE Connectivity stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $154.70, for a total value of $9,235,590.00. Following the completion of the transaction, the chief financial officer now owns 38,073 shares in the company, valued at $5,889,893.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 owns 20,556 shares in the company, valued at $3,186,180. The disclosure for this sale can be found here. Insiders sold 71,363 shares of company stock valued at $11,042,161 in the last three months. Company insiders own 0.86% of the company’s stock.

TE Connectivity Stock Performance

TEL stock opened at $147.68 on Thursday. The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.23. The firm has a market cap of $44.88 billion, a PE ratio of 13.51, a P/E/G ratio of 2.08 and a beta of 1.33. The business has a 50 day moving average of $150.76 and a 200-day moving average of $147.17. TE Connectivity Ltd. has a 12-month low of $115.00 and a 12-month high of $159.98.

TE Connectivity (NYSE:TEL) last announced 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. The firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.01 billion. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.77 EPS. As a group, sell-side analysts expect that TE Connectivity Ltd. will post 7.57 earnings per share for the current year.

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.