Advisors Asset Management Inc. Grows Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Advisors Asset Management Inc. grew its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 36.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,315 shares of the electronics maker’s stock after buying an additional 6,433 shares during the period. Advisors Asset Management Inc.’s holdings in TE Connectivity were worth $3,532,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. JFS Wealth Advisors LLC increased its position in TE Connectivity by 97.8% during 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 during the period. Salem Investment Counselors Inc. increased its position in shares of TE Connectivity by 112.4% during the first quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock valued at $27,000 after buying an additional 100 shares during the period. Godsey & Gibb Inc. raised its stake in TE Connectivity by 103.6% in the first quarter. Godsey & Gibb Inc. now owns 224 shares of the electronics maker’s stock worth $33,000 after buying an additional 114 shares in the last quarter. Crewe Advisors LLC purchased a new stake in TE Connectivity in the fourth quarter worth about $33,000. Finally, Sachetta LLC bought a new stake in TE Connectivity during the 4th quarter valued at approximately $34,000. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Performance

TE Connectivity stock traded up $1.84 during midday trading on Friday, reaching $156.38. 1,166,535 shares of the company traded hands, compared to its average volume of 1,968,755. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.51 and a quick ratio of 0.92. TE Connectivity Ltd. has a 12 month low of $115.00 and a 12 month high of $159.98. The firm has a market capitalization of $47.89 billion, a price-to-earnings ratio of 14.14, a price-to-earnings-growth ratio of 2.14 and a beta of 1.33. The business has a 50 day moving average of $151.13 and a two-hundred day moving average of $144.95.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.05. The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.01 billion. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. TE Connectivity’s revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.77 earnings per share. As a group, research analysts predict that TE Connectivity Ltd. will post 7.51 earnings per share for the current year.

Insider Activity at TE Connectivity

In other TE Connectivity news, Director Mark Trudeau sold 7,044 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $141.49, for a total value of $996,655.56. Following the transaction, the director now directly owns 5,917 shares in the company, valued at $837,196.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value of $749,300.00. Following the completion of the sale, the insider now owns 25,976 shares in the company, valued at approximately $3,892,763.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark Trudeau sold 7,044 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $141.49, for a total value of $996,655.56. Following the completion of the transaction, the director now owns 5,917 shares in the company, valued at $837,196.33. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,794 shares of company stock worth $3,102,206. 0.86% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TEL has been the subject of several research reports. Bank of America increased their target price on TE Connectivity from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. HSBC downgraded TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price target on the stock. in a research note on Wednesday. Truist Financial lifted their price objective on TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a research note on Thursday. Robert W. Baird increased their target price on TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, StockNews.com began coverage on shares of TE Connectivity in a research report on Friday, July 19th. They set a “buy” rating on the stock. 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 a consensus rating of “Hold” and an average target price of $158.45.

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.