E Fund Management Co. Ltd. Raises Stake in TE Connectivity Ltd. (NYSE:TEL)

E Fund Management Co. Ltd. grew its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 41.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,117 shares of the electronics maker’s stock after purchasing an additional 1,795 shares during the period. E Fund Management Co. Ltd.’s holdings in TE Connectivity were worth $875,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its position in shares of TE Connectivity by 20.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,611 shares of the electronics maker’s stock worth $243,000 after buying an additional 278 shares in the last quarter. Concurrent Investment Advisors LLC boosted its position in shares of TE Connectivity by 6.4% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 1,956 shares of the electronics maker’s stock worth $295,000 after buying an additional 117 shares in the last quarter. Galvin Gaustad & Stein LLC boosted its position in shares of TE Connectivity by 12.0% in the 3rd quarter. Galvin Gaustad & Stein LLC now owns 4,764 shares of the electronics maker’s stock worth $719,000 after buying an additional 510 shares in the last quarter. Verdence Capital Advisors LLC purchased a new stake in shares of TE Connectivity in the 3rd quarter worth about $213,000. Finally, Assetmark Inc. boosted its position in shares of TE Connectivity by 11.9% in the 3rd quarter. Assetmark Inc. now owns 2,266 shares of the electronics maker’s stock worth $342,000 after buying an additional 241 shares in the last quarter. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TEL has been the topic of a number of recent research reports. Bank of America upped their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Truist Financial reduced their target price on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Robert W. Baird upped their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Finally, HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price on the stock in a report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $167.00.

Insider Buying and Selling

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the completion of the sale, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,812,497.52. This represents a 49.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.90% of the company’s stock.

TE Connectivity Trading Up 2.4 %

NYSE TEL opened at $150.90 on Friday. The company has a 50-day moving average of $148.30 and a 200-day moving average of $148.77. The company has a market cap of $45.02 billion, a P/E ratio of 24.10, a P/E/G ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a 12 month low of $137.61 and a 12 month high of $159.98. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. The firm had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company’s revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.84 EPS. As a group, equities analysts predict that TE Connectivity Ltd. will post 8.05 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.