First Trust Direct Indexing L.P. Boosts Position in TE Connectivity Ltd. (NYSE:TEL)

First Trust Direct Indexing L.P. raised its stake in TE Connectivity Ltd. (NYSE:TEL) by 7.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,703 shares of the electronics maker’s stock after buying an additional 897 shares during the period. First Trust Direct Indexing L.P.’s holdings in TE Connectivity were worth $1,845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. JFS Wealth Advisors LLC raised 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 in the last quarter. Salem Investment Counselors Inc. grew its holdings in TE Connectivity by 112.4% during the 1st quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock worth $27,000 after acquiring an additional 100 shares in the last quarter. Bruce G. Allen Investments LLC bought a new stake in shares of TE Connectivity in the 4th quarter valued at about $30,000. Crewe Advisors LLC purchased a new stake in shares of TE Connectivity in the 4th quarter worth approximately $33,000. Finally, Sachetta LLC purchased a new position in TE Connectivity during the fourth quarter valued at approximately $34,000. 91.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TEL. JPMorgan Chase & Co. cut their price objective on shares of TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Wells Fargo & Company dropped their price objective on shares of TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 25th. Robert W. Baird decreased their target price on shares of TE Connectivity from $159.00 to $158.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. StockNews.com began coverage on TE Connectivity in a report on Wednesday. They issued a “buy” rating for the company. Finally, Jefferies Financial Group began coverage on TE Connectivity in a report on Tuesday, April 9th. They set a “buy” rating and a $180.00 target price on the stock. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, TE Connectivity presently has a consensus rating of “Moderate Buy” and a consensus price target of $155.13.

Insider Buying and Selling

In other news, insider Shadrak W. Kroeger sold 5,000 shares of the firm’s 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 document filed with the SEC, which is available at this link. In other TE Connectivity news, insider Shadrak W. Kroeger sold 5,000 shares of TE Connectivity stock in a transaction dated 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 transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,892,763.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mark Trudeau sold 7,044 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $141.49, for a total transaction of $996,655.56. Following the completion of the transaction, the director now owns 5,917 shares of the company’s stock, valued at approximately $837,196.33. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by corporate insiders.

TE Connectivity Stock Down 0.8 %

Shares of TEL opened at $148.78 on Friday. The stock has a fifty day simple moving average of $148.29 and a two-hundred day simple moving average of $143.41. The company has a quick ratio of 0.92, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $45.56 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 2.19 and a beta of 1.33. TE Connectivity Ltd. has a 52-week low of $115.00 and a 52-week high of $153.54.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.86 EPS for the quarter, beating the consensus estimate of $1.83 by $0.03. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.96 billion. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.65 EPS. As a group, equities analysts forecast that TE Connectivity Ltd. will post 7.5 EPS 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.