Buckley Wealth Management LLC acquired a new stake in TE Connectivity Ltd. (NYSE:TEL – Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,733 shares of the electronics maker’s stock, valued at approximately $243,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Tucker Asset Management LLC bought a new position in TE Connectivity during the first quarter worth $25,000. Cullen Frost Bankers Inc. acquired a new stake in TE Connectivity during the first quarter worth approximately $27,000. Magellan Asset Management Ltd bought a new position in TE Connectivity during the fourth quarter worth $28,000. Silicon Valley Capital Partners acquired a new position in TE Connectivity during the 4th quarter worth approximately $30,000. Finally, Delta Asset Management LLC TN bought a new position in TE Connectivity in the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 90.75% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on TEL shares. Robert W. Baird increased their target price on TE Connectivity from $149.00 to $153.00 in a report on Thursday, July 27th. StockNews.com initiated coverage on shares of TE Connectivity in a research report on Thursday, August 17th. They issued a “buy” rating on the stock. Credit Suisse Group upped their price target on TE Connectivity from $138.00 to $150.00 in a report on Tuesday, June 20th. Finally, Truist Financial lifted their price objective on shares of TE Connectivity from $127.00 to $147.00 and gave the stock a “hold” rating in a report on Thursday, July 27th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, TE Connectivity presently has an average rating of “Hold” and an average target price of $144.33.
TE Connectivity Stock Up 0.2 %
TE Connectivity stock opened at $126.96 on Tuesday. The firm has a market capitalization of $39.86 billion, a price-to-earnings ratio of 19.59, a P/E/G ratio of 2.68 and a beta of 1.35. The firm has a 50 day simple moving average of $135.21 and a 200 day simple moving average of $130.05. TE Connectivity Ltd. has a 1-year low of $104.76 and a 1-year high of $146.60. The company has a current ratio of 1.80, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34.
TE Connectivity (NYSE:TEL – Get Free Report) last announced its quarterly earnings results on Wednesday, July 26th. The electronics maker reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.11. The firm had revenue of $4 billion for the quarter, compared to analysts’ expectations of $4.05 billion. TE Connectivity had a return on equity of 19.55% and a net margin of 12.63%. The company’s revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.86 earnings per share. On average, analysts predict that TE Connectivity Ltd. will post 6.71 earnings per share for the current year.
Insider Buying and Selling
In related news, Director Terrence R. Curtin sold 70,721 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $143.02, for a total transaction of $10,114,517.42. Following the completion of the sale, the director now directly owns 54,969 shares in the company, valued at approximately $7,861,666.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.80% of the stock is owned by corporate insiders.
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.
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