Retirement Systems of Alabama Lowers Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Retirement Systems of Alabama cut its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 0.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,551 shares of the electronics maker’s stock after selling 605 shares during the period. Retirement Systems of Alabama’s holdings in TE Connectivity were worth $10,162,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in TEL. JFS Wealth Advisors LLC raised its position in TE Connectivity by 97.8% in the 4th quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock valued at $26,000 after purchasing an additional 91 shares in the last quarter. Salem Investment Counselors Inc. grew its holdings in TE Connectivity by 112.4% during the 1st quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock worth $27,000 after acquiring an additional 100 shares in the last quarter. Versant Capital Management Inc increased its position in shares of TE Connectivity by 209.8% in the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 128 shares during the last quarter. Olistico Wealth LLC acquired a new stake in shares of TE Connectivity in the 2nd quarter valued at $30,000. Finally, Godsey & Gibb Inc. lifted its position in shares of TE Connectivity by 103.6% during the 1st quarter. Godsey & Gibb Inc. now owns 224 shares of the electronics maker’s stock worth $33,000 after purchasing an additional 114 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Hsbc Global Res upgraded TE Connectivity to a “hold” rating in a research note on Wednesday, July 24th. HSBC lowered TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 target price on the stock. in a research report on Wednesday, July 24th. Robert W. Baird upped their price target on TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Wells Fargo & Company cut their price objective on shares of TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 25th. Finally, Truist Financial upped their target price on shares of TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $158.45.

Insider Buying and Selling

In other TE Connectivity news, insider Aaron Kyle Stucki sold 8,750 shares of the business’s 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 transaction, the insider now directly owns 20,556 shares of the company’s stock, valued at approximately $3,186,180. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Robert J. Ott sold 2,913 shares of the firm’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 sale, the senior vice president now directly owns 25,504 shares of the company’s stock, valued at approximately $3,942,663.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Aaron Kyle Stucki sold 8,750 shares of the company’s stock in a transaction 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 directly owns 20,556 shares in the company, valued at approximately $3,186,180. The disclosure for this sale can be found here. Insiders sold a total of 76,363 shares of company stock valued at $11,791,461 over the last three months. 0.86% of the stock is currently owned by company insiders.

TE Connectivity Trading Up 2.0 %

NYSE TEL opened at $153.08 on Friday. The firm’s fifty day moving average is $150.62 and its two-hundred day moving average is $146.69. TE Connectivity Ltd. has a one year low of $115.00 and a one year 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 firm has a market cap of $46.88 billion, a PE ratio of 14.01, a P/E/G ratio of 2.03 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.05. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. The firm had revenue of $4 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter in the previous year, the firm posted $1.77 EPS. The firm’s revenue for the quarter was up .1% on a year-over-year basis. 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.