TE Connectivity Ltd. (NYSE:TEL) Shares Purchased by Plato Investment Management Ltd

Plato Investment Management Ltd increased its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 2,701.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,103 shares of the electronics maker’s stock after purchasing an additional 11,671 shares during the quarter. Plato Investment Management Ltd’s holdings in TE Connectivity were worth $1,758,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in TEL. Price T Rowe Associates Inc. MD grew its position in shares of TE Connectivity by 54.9% during the 1st 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 buying an additional 5,526,230 shares during the last quarter. Norges Bank bought a new position in shares of TE Connectivity during the fourth quarter valued at approximately $693,985,000. First Trust Advisors LP raised its position in shares of TE Connectivity by 150.9% during the 4th quarter. First Trust Advisors LP now owns 2,143,423 shares of the electronics maker’s stock worth $301,151,000 after purchasing an additional 1,289,230 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of TE Connectivity by 1,000.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,335,477 shares of the electronics maker’s stock worth $193,965,000 after purchasing an additional 1,214,122 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in TE Connectivity by 12.5% during 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. Institutional investors own 91.43% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. cut their target price on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Truist Financial lifted their price objective on shares of TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Wells Fargo & Company decreased their target price on shares of TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 25th. Bank of America boosted their price objective on TE Connectivity from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, Vertical Research began coverage on TE Connectivity in a research report on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $158.45.

Insider Activity

In related news, SVP Robert J. Ott sold 2,913 shares of TE Connectivity stock in a transaction 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 transaction, the senior vice president now directly owns 25,504 shares in the company, valued at approximately $3,942,663.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other TE Connectivity news, CFO Heath A. Mitts sold 59,700 shares of TE Connectivity stock in a transaction that occurred on 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 directly owns 38,073 shares in the company, valued at approximately $5,889,893.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Robert J. Ott sold 2,913 shares of the business’s stock in a transaction on 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 in the company, valued at $3,942,663.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 76,363 shares of company stock worth $11,791,461. Insiders own 0.86% of the company’s stock.

TE Connectivity Price Performance

Shares of TEL stock traded down $4.03 during mid-day trading on Thursday, hitting $150.30. 1,758,321 shares of the stock traded hands, compared to its average volume of 1,961,933. 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 $45.68 billion, a price-to-earnings ratio of 14.12, a price-to-earnings-growth ratio of 2.08 and a beta of 1.33. The company’s 50-day simple moving average is $151.39 and its 200-day simple moving average is $145.65. TE Connectivity Ltd. has a twelve month low of $115.00 and a twelve month high of $159.98.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.05. The business had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.01 billion. TE Connectivity had a net margin of 21.94% and a return on equity of 18.53%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.77 EPS. As a group, equities research analysts expect that TE Connectivity Ltd. will post 7.56 earnings per share for the current year.

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.