1832 Asset Management L.P. Has $84.85 Million Position in TE Connectivity Ltd. (NYSE:TEL)

1832 Asset Management L.P. increased its position in TE Connectivity Ltd. (NYSE:TEL) by 1.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 584,212 shares of the electronics maker’s stock after buying an additional 6,472 shares during the period. 1832 Asset Management L.P.’s holdings in TE Connectivity were worth $84,851,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. CVA Family Office LLC acquired a new position in TE Connectivity during the fourth quarter valued at approximately $71,000. Raymond James Financial Services Advisors Inc. grew its holdings in TE Connectivity by 2.7% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 65,166 shares of the electronics maker’s stock valued at $9,156,000 after purchasing an additional 1,685 shares during the last quarter. Pacer Advisors Inc. grew its holdings in TE Connectivity by 12.7% during the fourth quarter. Pacer Advisors Inc. now owns 25,834 shares of the electronics maker’s stock valued at $3,630,000 after purchasing an additional 2,918 shares during the last quarter. IFG Advisory LLC grew its holdings in TE Connectivity by 4.0% during the fourth quarter. IFG Advisory LLC now owns 2,960 shares of the electronics maker’s stock valued at $416,000 after purchasing an additional 115 shares during the last quarter. Finally, Ritholtz Wealth Management acquired a new position in TE Connectivity during the fourth quarter valued at approximately $585,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

Insiders Place Their Bets

In other TE Connectivity news, insider Shadrak W. Kroeger sold 5,000 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $149.86, for a total transaction of $749,300.00. Following the completion of the transaction, the insider now directly owns 25,976 shares in the company, valued at $3,892,763.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Mark Trudeau sold 7,044 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $141.49, for a total value of $996,655.56. Following the completion of the sale, the director now directly owns 5,917 shares in the company, valued at $837,196.33. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Shadrak W. Kroeger sold 5,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $149.86, for a total value of $749,300.00. Following the completion of the sale, the insider now owns 25,976 shares of the company’s stock, valued at $3,892,763.36. The disclosure for this sale can be found here. Insiders sold 20,794 shares of company stock worth $3,102,206 over the last three months. 0.86% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Wells Fargo & Company lowered their price target on TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 25th. The Goldman Sachs Group reissued a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. Jefferies Financial Group began coverage on TE Connectivity in a research report on Tuesday, April 9th. They issued a “buy” rating and a $180.00 price objective for the company. StockNews.com began coverage on TE Connectivity in a research report on Saturday. They issued a “buy” rating for the company. Finally, Truist Financial increased their price objective on TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a research report on Thursday. Eight research 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.com, TE Connectivity has an average rating of “Hold” and a consensus price target of $158.45.

TE Connectivity Stock Performance

TEL stock traded up $1.84 during midday trading on Friday, hitting $156.38. The stock had a trading volume of 1,185,249 shares, compared to its average volume of 1,861,097. The firm has a market capitalization of $47.89 billion, a price-to-earnings ratio of 14.31, a P/E/G ratio of 2.11 and a beta of 1.33. TE Connectivity Ltd. has a 52 week low of $115.00 and a 52 week high of $159.98. The stock has a 50-day simple moving average of $151.23 and a 200 day simple moving average of $145.19. The company has a current ratio of 1.51, a quick ratio of 0.92 and a debt-to-equity ratio of 0.23.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 EPS for the quarter, topping the consensus estimate of $1.86 by $0.05. The firm had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4.01 billion. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. During the same period last year, the business earned $1.77 earnings per share. TE Connectivity’s quarterly revenue was up .1% compared to the same quarter last year. As a group, equities research analysts anticipate that TE Connectivity Ltd. will post 7.54 earnings per share for the current year.

About TE Connectivity

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.