1832 Asset Management L.P. Boosts Holdings in TE Connectivity Ltd. (NYSE:TEL)

1832 Asset Management L.P. lifted its stake in TE Connectivity Ltd. (NYSE:TEL) by 1.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 594,786 shares of the electronics maker’s stock after buying an additional 10,574 shares during the period. 1832 Asset Management L.P. owned approximately 0.20% of TE Connectivity worth $89,474,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Salem Investment Counselors Inc. grew its position in shares of TE Connectivity by 112.4% in the 1st 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 last quarter. Versant Capital Management Inc grew its position in shares of TE Connectivity by 209.8% in the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock valued at $28,000 after buying an additional 128 shares during the last quarter. Olistico Wealth LLC purchased a new position in shares of TE Connectivity in the 2nd quarter valued at $30,000. Bank & Trust Co purchased a new position in shares of TE Connectivity in the 2nd quarter valued at $35,000. Finally, Rise Advisors LLC purchased a new position in shares of TE Connectivity in the 1st quarter valued at $40,000. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Stock Down 0.9 %

TEL stock opened at $148.11 on Monday. TE Connectivity Ltd. has a one year low of $115.00 and a one year high of $159.98. The stock has a market capitalization of $45.36 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 1.98 and a beta of 1.33. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.51. The company has a fifty day moving average of $149.59 and a 200-day moving average of $147.49.

TE Connectivity (NYSE:TEL) last released 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. TE Connectivity had a net margin of 21.94% and a return on equity of 18.53%. The company had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter last year, the business earned $1.77 EPS. The business’s revenue was up .1% on a year-over-year basis. As a group, analysts expect that TE Connectivity Ltd. will post 7.57 EPS for the current year.

Insider Activity at TE Connectivity

In related news, SVP Robert J. Ott sold 2,913 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total value of $450,320.67. Following the completion of the sale, the senior vice president now owns 25,504 shares in the company, valued at $3,942,663.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Aaron Kyle Stucki sold 8,750 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $155.00, for a total value of $1,356,250.00. Following the completion of the sale, the insider now owns 20,556 shares in the company, valued at $3,186,180. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Robert J. Ott sold 2,913 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total transaction of $450,320.67. Following the completion of the sale, the senior vice president now owns 25,504 shares of the company’s stock, valued at approximately $3,942,663.36. The disclosure for this sale can be found here. Insiders sold 71,363 shares of company stock worth $11,042,161 over the last 90 days. Company insiders own 0.86% of the company’s stock.

Wall Street Analysts Forecast Growth

TEL has been the topic of several research reports. Wolfe Research raised shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. Bank of America raised their price objective on shares of TE Connectivity from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Wells Fargo & Company lowered their price objective on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a research report on Friday. HSBC downgraded shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price objective on the stock. in a research report on Wednesday, July 24th. Finally, StockNews.com initiated coverage on shares of TE Connectivity in a research report on Saturday. They set a “buy” rating on the stock. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, TE Connectivity currently has a consensus rating of “Hold” and an average price target of $158.73.

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.