Sompo Asset Management Co. Ltd. Sells 750 Shares of TE Connectivity Ltd. (NYSE:TEL)

Sompo Asset Management Co. Ltd. lessened its position in TE Connectivity Ltd. (NYSE:TEL) by 20.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,910 shares of the electronics maker’s stock after selling 750 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in TE Connectivity were worth $438,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Summit Trail Advisors LLC raised its holdings in shares of TE Connectivity by 8.4% in the second quarter. Summit Trail Advisors LLC now owns 4,040 shares of the electronics maker’s stock valued at $608,000 after purchasing an additional 314 shares during the last quarter. Sei Investments Co. boosted its holdings in TE Connectivity by 51.9% during the second quarter. Sei Investments Co. now owns 301,174 shares of the electronics maker’s stock worth $45,305,000 after purchasing an additional 102,899 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in TE Connectivity by 31.0% during the second quarter. Pacer Advisors Inc. now owns 35,518 shares of the electronics maker’s stock worth $5,343,000 after purchasing an additional 8,401 shares during the last quarter. AE Wealth Management LLC boosted its holdings in TE Connectivity by 37.8% during the second quarter. AE Wealth Management LLC now owns 37,327 shares of the electronics maker’s stock worth $5,615,000 after purchasing an additional 10,243 shares during the last quarter. Finally, Bridges Investment Management Inc. boosted its holdings in TE Connectivity by 204.3% during the second quarter. Bridges Investment Management Inc. now owns 13,390 shares of the electronics maker’s stock worth $2,014,000 after purchasing an additional 8,990 shares during the last quarter. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Performance

NYSE:TEL opened at $148.11 on Friday. The firm has a market cap of $45.36 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 1.98 and a beta of 1.33. TE Connectivity Ltd. has a fifty-two week low of $115.00 and a fifty-two week high of $159.98. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.51. The business has a 50 day moving average price of $149.59 and a 200-day moving average price of $147.45.

TE Connectivity (NYSE:TEL) last announced its quarterly 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 company had revenue of $4 billion during the quarter, compared to analyst estimates of $4.01 billion. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. The firm’s revenue was up .1% on a year-over-year basis. During the same quarter last year, the firm posted $1.77 earnings per share. Equities research analysts predict that TE Connectivity Ltd. will post 7.57 earnings per share for the current year.

Insider Buying and Selling

In other TE Connectivity news, CFO Heath A. Mitts sold 59,700 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 38,073 shares of the company’s stock, valued at $5,889,893.10. The sale 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 stock was sold at an average price of $154.70, for a total transaction of $9,235,590.00. Following the transaction, the chief financial officer now directly owns 38,073 shares of the company’s stock, valued at approximately $5,889,893.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Robert J. Ott sold 2,913 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was 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 in the company, valued at $3,942,663.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,363 shares of company stock worth $11,042,161. 0.86% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TEL has been the subject of a number of recent analyst reports. Hsbc Global Res upgraded shares of TE Connectivity to a “hold” rating in a research note on Wednesday, July 24th. HSBC lowered shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price target on the stock. in a research report on Wednesday, July 24th. Wolfe Research raised shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. StockNews.com initiated coverage on shares of TE Connectivity in a research note on Saturday. They issued a “buy” rating on the stock. Finally, Wells Fargo & Company reduced their price target 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. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $158.73.

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.