TE Connectivity Ltd. (NYSE:TEL) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its holdings in TE Connectivity Ltd. (NYSE:TEL) by 8.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 63,731 shares of the electronics maker’s stock after acquiring an additional 5,040 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in TE Connectivity were worth $8,933,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Tucker Asset Management LLC acquired a new stake in shares of TE Connectivity in the first quarter worth $25,000. Cullen Frost Bankers Inc. acquired a new stake in shares of TE Connectivity in the first quarter worth $27,000. Centerpoint Advisors LLC acquired a new stake in shares of TE Connectivity in the first quarter worth $33,000. Blume Capital Management Inc. acquired a new stake in TE Connectivity during the first quarter valued at $36,000. Finally, Money Concepts Capital Corp grew its position in TE Connectivity by 101.3% during the fourth quarter. Money Concepts Capital Corp now owns 322 shares of the electronics maker’s stock valued at $37,000 after buying an additional 162 shares during the period. Institutional investors and hedge funds own 90.75% of the company’s stock.

TE Connectivity Stock Performance

NYSE:TEL opened at $122.86 on Thursday. The company’s 50-day moving average price is $124.61 and its 200-day moving average price is $129.01. The company has a current ratio of 1.80, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The company has a market cap of $38.57 billion, a P/E ratio of 18.96, a P/E/G ratio of 2.21 and a beta of 1.35. TE Connectivity Ltd. has a twelve month low of $110.88 and a twelve month high of $146.60.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Truist Financial raised their price target on shares of TE Connectivity from $127.00 to $147.00 and gave the company a “hold” rating in a research report on Thursday, July 27th. StockNews.com assumed coverage on shares of TE Connectivity in a report on Thursday, October 5th. They set a “buy” rating on the stock. Robert W. Baird increased their price objective on shares of TE Connectivity from $149.00 to $153.00 in a report on Thursday, July 27th. Finally, TD Cowen raised shares of TE Connectivity from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $115.00 to $140.00 in a report on Friday, October 6th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.90.

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.