Sumitomo Mitsui DS Asset Management Company Ltd Raises Position in TE Connectivity Ltd. (NYSE:TEL)

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 0.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,705 shares of the electronics maker’s stock after buying an additional 232 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in TE Connectivity were worth $4,787,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of TEL. Russell Investments Group Ltd. boosted its holdings in TE Connectivity by 25.3% during the 1st quarter. Russell Investments Group Ltd. now owns 287,942 shares of the electronics maker’s stock valued at $41,811,000 after acquiring an additional 58,219 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of TE Connectivity by 17.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 361,166 shares of the electronics maker’s stock worth $52,456,000 after purchasing an additional 52,824 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of TE Connectivity by 72.8% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,687 shares of the electronics maker’s stock worth $46,537,000 after buying an additional 135,548 shares during the period. Manning & Napier Advisors LLC bought a new stake in TE Connectivity during the 2nd quarter valued at $15,847,000. Finally, Headlands Technologies LLC boosted its position in TE Connectivity by 2,037.3% during the 1st quarter. Headlands Technologies LLC now owns 3,612 shares of the electronics maker’s stock valued at $525,000 after buying an additional 3,443 shares during the period. 91.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Bank of America lowered their price objective on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Robert W. Baird upped their price target on 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 objective on the stock. in a research report on Wednesday, July 24th. The Goldman Sachs Group decreased their target price on TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Finally, Vertical Research began coverage on shares of TE Connectivity in a report on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $161.82.

Insider Buying and Selling at TE Connectivity

In other news, CFO Heath A. Mitts sold 59,700 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now owns 38,073 shares in the company, valued at $5,889,893.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other TE Connectivity news, SVP Robert J. Ott sold 2,913 shares of the business’s stock in a transaction on 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 sale, the senior vice president now directly owns 25,504 shares in the company, valued at approximately $3,942,663.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Heath A. Mitts sold 59,700 shares of the stock in a transaction that occurred 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 owns 38,073 shares in the company, valued at $5,889,893.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.86% of the stock is owned by company insiders.

TE Connectivity Stock Performance

TE Connectivity stock opened at $148.97 on Friday. TE Connectivity Ltd. has a twelve month low of $115.00 and a twelve month high of $159.98. 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 company has a market capitalization of $45.27 billion, a P/E ratio of 13.40, a PEG ratio of 1.91 and a beta of 1.33. The stock’s 50 day moving average is $148.00 and its 200 day moving average is $148.19.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 EPS for the quarter, topping 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 return on equity of 18.53% and a net margin of 21.94%. The company’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.77 earnings per share. On average, equities research analysts predict that TE Connectivity Ltd. will post 7.56 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.