University of Texas Texas AM Investment Management Co. Sells 24,679 Shares of TE Connectivity Ltd. (NYSE:TEL)

University of Texas Texas AM Investment Management Co. reduced its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 53.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,693 shares of the electronics maker’s stock after selling 24,679 shares during the period. University of Texas Texas AM Investment Management Co.’s holdings in TE Connectivity were worth $3,263,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in TEL. Price T Rowe Associates Inc. MD boosted its position in shares of 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 acquiring an additional 5,526,230 shares during the period. Ameriprise Financial Inc. raised its stake in TE Connectivity by 26.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock worth $944,791,000 after purchasing an additional 1,304,199 shares in the last quarter. Wellington Management Group LLP boosted its holdings in TE Connectivity by 12.5% in the 4th quarter. Wellington Management Group LLP now owns 3,630,003 shares of the electronics maker’s stock valued at $510,015,000 after purchasing an additional 403,750 shares during the period. Dimensional Fund Advisors LP grew its position in shares of TE Connectivity by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,118,636 shares of the electronics maker’s stock worth $469,113,000 after purchasing an additional 223,842 shares in the last quarter. Finally, Pzena Investment Management LLC increased its holdings in shares of TE Connectivity by 9.3% during the first quarter. Pzena Investment Management LLC now owns 2,798,532 shares of the electronics maker’s stock worth $406,459,000 after purchasing an additional 238,370 shares during the period. 91.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TEL has been the topic of a number of recent research reports. Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. Bank of America boosted their price target on TE Connectivity from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Truist Financial increased their price objective 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. HSBC cut shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 target price for the company. in a research report on Wednesday, July 24th. Finally, Hsbc Global Res raised TE Connectivity to a “hold” rating in a research note on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $160.42.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Aaron Kyle Stucki sold 8,750 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $155.00, for a total value of $1,356,250.00. Following the transaction, the insider now owns 20,556 shares in the company, valued at $3,186,180. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other TE Connectivity news, insider Aaron Kyle Stucki sold 8,750 shares of the company’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 transaction, the insider now owns 20,556 shares in the company, valued at $3,186,180. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction of $9,235,590.00. Following the transaction, the chief financial officer now owns 38,073 shares of the company’s stock, valued at $5,889,893.10. 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. Corporate insiders own 0.86% of the company’s stock.

TE Connectivity Price Performance

Shares of TEL opened at $147.46 on Wednesday. The firm has a market cap of $44.82 billion, a PE ratio of 13.49, a price-to-earnings-growth 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 business’s 50 day moving average price is $148.75 and its two-hundred day moving average price is $147.90. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.51.

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