Public Sector Pension Investment Board Grows Holdings in TE Connectivity Ltd. (NYSE:TEL)

Public Sector Pension Investment Board boosted its holdings in TE Connectivity Ltd. (NYSE:TEL) by 62.5% in the 2nd quarter, Holdings Channel reports. The firm owned 11,476 shares of the electronics maker’s stock after purchasing an additional 4,415 shares during the period. Public Sector Pension Investment Board’s holdings in TE Connectivity were worth $1,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Salem Investment Counselors Inc. raised its position in TE Connectivity by 112.4% in the 1st quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock valued at $27,000 after purchasing an additional 100 shares during the last quarter. Versant Capital Management Inc increased its stake in TE Connectivity by 209.8% in the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock valued at $28,000 after buying an additional 128 shares during the period. Olistico Wealth LLC acquired a new position in TE Connectivity in the 2nd quarter valued at $30,000. Bank & Trust Co acquired a new position in TE Connectivity in the 2nd quarter valued at $35,000. Finally, Rise Advisors LLC acquired a new position in TE Connectivity in the 1st quarter valued at $40,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TEL. Hsbc Global Res raised shares of TE Connectivity to a “hold” rating in a research note on Wednesday, July 24th. HSBC cut shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price objective on the stock. in a research note on Wednesday, July 24th. Wells Fargo & Company dropped their price objective on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a research note on Friday, September 20th. 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 note on Thursday, July 18th. Finally, Truist Financial upped their price target on shares of TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $158.73.

Insider Activity at TE Connectivity

In other TE Connectivity news, SVP Robert J. Ott sold 2,913 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total value of $450,320.67. Following the transaction, the senior vice president now directly owns 25,504 shares in the company, valued at approximately $3,942,663.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other TE Connectivity news, insider Aaron Kyle Stucki sold 8,750 shares of the company’s 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 transaction, the insider now directly owns 20,556 shares in the company, valued at approximately $3,186,180. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Robert J. Ott sold 2,913 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were 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 $3,942,663.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,363 shares of company stock valued at $11,042,161. Insiders own 0.86% of the company’s stock.

TE Connectivity Price Performance

Shares of NYSE TEL opened at $150.99 on Tuesday. The stock has a market cap of $45.89 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 2.05 and a beta of 1.33. TE Connectivity Ltd. has a 52 week low of $115.00 and a 52 week high of $159.98. The company’s 50-day moving average price is $148.82 and its 200 day moving average price is $147.84. 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 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.05. The firm had revenue of $4 billion for the quarter, compared to analysts’ expectations of $4.01 billion. TE Connectivity had a net margin of 21.94% and a return on equity of 18.53%. The firm’s revenue was up .1% on a year-over-year basis. During the same period in the prior year, the company earned $1.77 EPS. As a group, research analysts forecast that TE Connectivity Ltd. will post 7.57 earnings per share for the current fiscal year.

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.