Marshall Wace LLP Decreases Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Marshall Wace LLP lowered its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 14.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 366,054 shares of the electronics maker’s stock after selling 61,257 shares during the period. Marshall Wace LLP owned about 0.12% of TE Connectivity worth $55,066,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of TEL. Salem Investment Counselors Inc. lifted its stake in TE Connectivity by 112.4% in the 1st quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock valued at $27,000 after buying an additional 100 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of 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 acquiring an additional 128 shares in the last quarter. Olistico Wealth LLC acquired a new stake in shares of TE Connectivity during the second quarter valued at $30,000. Bank & Trust Co purchased a new stake in TE Connectivity during the 2nd quarter worth about $35,000. Finally, Rise Advisors LLC acquired a new position in TE Connectivity in the 1st quarter valued at about $40,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. HSBC downgraded shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price target for the company. in a report on Wednesday, July 24th. Truist Financial boosted their price target on TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Bank of America raised their price objective on TE Connectivity from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Robert W. Baird upped their target price on TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $158.73.

Insider Activity at TE Connectivity

In related news, SVP Robert J. Ott sold 2,913 shares of the business’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 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 at this hyperlink. In other TE Connectivity news, SVP Robert J. Ott sold 2,913 shares of the company’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 transaction of $450,320.67. Following the sale, the senior vice president now owns 25,504 shares in the company, valued at $3,942,663.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Aaron Kyle Stucki sold 8,750 shares of the stock in a transaction dated 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 owns 20,556 shares in the company, valued at approximately $3,186,180. The disclosure for this sale can be found here. In the last three months, insiders sold 71,363 shares of company stock valued at $11,042,161. Corporate insiders own 0.86% of the company’s stock.

TE Connectivity Price Performance

TEL opened at $145.78 on Thursday. TE Connectivity Ltd. has a 52-week low of $115.00 and a 52-week high of $159.98. The company has a 50 day moving average of $149.22 and a two-hundred day moving average of $147.59. The company has a market cap of $44.31 billion, a P/E ratio of 13.34, a P/E/G ratio of 2.02 and a beta of 1.33. The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.23.

TE Connectivity (NYSE:TEL) last announced 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 firm had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the prior year, the company earned $1.77 EPS. The firm’s revenue was up .1% on a year-over-year basis. On average, analysts expect that TE Connectivity Ltd. will post 7.57 earnings per share 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.