ProShare Advisors LLC Lowers Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

ProShare Advisors LLC cut its holdings in TE Connectivity Ltd. (NYSE:TEL) by 3.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 116,391 shares of the electronics maker’s stock after selling 4,715 shares during the period. ProShare Advisors LLC’s holdings in TE Connectivity were worth $17,509,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in TEL. Profund Advisors LLC increased its stake in TE Connectivity by 5.7% in the second quarter. Profund Advisors LLC now owns 6,312 shares of the electronics maker’s stock valued at $950,000 after purchasing an additional 341 shares during the last quarter. Summit Trail Advisors LLC grew its holdings in TE Connectivity by 8.4% in the 2nd quarter. Summit Trail Advisors LLC now owns 4,040 shares of the electronics maker’s stock valued at $608,000 after buying an additional 314 shares during the period. Sei Investments Co. increased its stake in shares of TE Connectivity by 51.9% during the 2nd quarter. Sei Investments Co. now owns 301,174 shares of the electronics maker’s stock valued at $45,305,000 after acquiring an additional 102,899 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of TE Connectivity by 31.0% during the 2nd quarter. Pacer Advisors Inc. now owns 35,518 shares of the electronics maker’s stock worth $5,343,000 after acquiring an additional 8,401 shares during the period. Finally, AE Wealth Management LLC boosted its position in shares of TE Connectivity by 37.8% in the second quarter. AE Wealth Management LLC now owns 37,327 shares of the electronics maker’s stock worth $5,615,000 after acquiring an additional 10,243 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Performance

TE Connectivity stock opened at $148.49 on Tuesday. TE Connectivity Ltd. has a 12-month low of $115.00 and a 12-month high of $159.98. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.51 and a quick ratio of 0.99. The company has a market capitalization of $45.47 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 1.98 and a beta of 1.33. The firm’s fifty day moving average price is $149.43 and its 200 day moving average price is $147.53.

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

Analyst Ratings Changes

Several brokerages recently commented on TEL. HSBC lowered shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price target for the company. in a research report on Wednesday, July 24th. StockNews.com began coverage on TE Connectivity in a report on Saturday. They issued a “buy” rating on the stock. Robert W. Baird boosted 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 Global Res upgraded TE Connectivity to a “hold” rating in a report on Wednesday, July 24th. Finally, Truist Financial boosted their target price on TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Eight equities research 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 presently has a consensus rating of “Hold” and an average target price of $158.73.

Insider Activity

In related news, insider Aaron Kyle Stucki sold 8,750 shares of TE Connectivity stock in a transaction on 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 completion of the sale, the insider now owns 20,556 shares in the company, valued at $3,186,180. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Aaron Kyle Stucki sold 8,750 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $155.00, for a total transaction of $1,356,250.00. Following the sale, the insider now directly owns 20,556 shares of the company’s stock, valued at approximately $3,186,180. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Robert J. Ott sold 2,913 shares of the business’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 sale, the senior vice president now directly owns 25,504 shares of the company’s stock, valued at approximately $3,942,663.36. The disclosure for this sale can be found here. In the last three months, insiders sold 71,363 shares of company stock worth $11,042,161. 0.86% of the stock is currently owned by insiders.

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.