TE Connectivity Ltd. (NYSE:TEL) Position Decreased by Impax Asset Management Group plc

Impax Asset Management Group plc reduced its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 6.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,485,014 shares of the electronics maker’s stock after selling 227,013 shares during the period. TE Connectivity makes up approximately 2.1% of Impax Asset Management Group plc’s portfolio, making the stock its 8th largest position. Impax Asset Management Group plc owned about 1.15% of TE Connectivity worth $523,578,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in TEL. JFS Wealth Advisors LLC grew its stake in shares of TE Connectivity by 97.8% during the 4th quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock worth $26,000 after purchasing an additional 91 shares during the period. Salem Investment Counselors Inc. boosted its holdings in TE Connectivity by 112.4% during the first quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock worth $27,000 after buying an additional 100 shares in the last quarter. Versant Capital Management Inc increased its holdings in TE Connectivity by 209.8% in the second 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 in the last quarter. Olistico Wealth LLC acquired a new stake in shares of TE Connectivity during the 2nd quarter valued at approximately $30,000. Finally, Godsey & Gibb Inc. boosted its stake in shares of TE Connectivity by 103.6% during the 1st quarter. Godsey & Gibb Inc. now owns 224 shares of the electronics maker’s stock worth $33,000 after acquiring an additional 114 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Trading Down 0.3 %

Shares of NYSE:TEL traded down $0.38 during midday trading on Friday, reaching $146.69. The company’s stock had a trading volume of 27,500 shares, compared to its average volume of 1,880,578. TE Connectivity Ltd. has a 1 year low of $115.00 and a 1 year high of $159.98. The business has a 50 day moving average price of $150.73 and a 200 day moving average price of $147.17. 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 $44.58 billion, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 2.08 and a beta of 1.33.

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

Insider Activity at TE Connectivity

In other news, SVP Robert J. Ott sold 2,913 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was 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 document filed with the SEC, which is accessible 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 that occurred 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 $3,942,663.36. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Aaron Kyle Stucki sold 8,750 shares of the firm’s stock in a transaction 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 completion of the transaction, 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 90 days, insiders have sold 71,363 shares of company stock worth $11,042,161. 0.86% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on TEL shares. HSBC downgraded 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 decreased 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 research report on Tuesday, June 25th. Truist Financial lifted their target price on shares of TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Robert W. Baird increased their price target 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. Finally, Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus 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.