KCM Investment Advisors LLC Invests $1.89 Million in TE Connectivity Ltd. (NYSE:TEL)

KCM Investment Advisors LLC bought a new stake in shares of TE Connectivity Ltd. (NYSE:TEL) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,588 shares of the electronics maker’s stock, valued at approximately $1,894,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TEL. Price T Rowe Associates Inc. MD increased its holdings in TE Connectivity by 54.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker’s stock worth $2,265,218,000 after acquiring an additional 5,526,230 shares in the last quarter. Norges Bank bought a new position in shares of TE Connectivity in the fourth quarter worth about $693,985,000. First Trust Advisors LP raised its stake in TE Connectivity by 150.9% during the fourth quarter. First Trust Advisors LP now owns 2,143,423 shares of the electronics maker’s stock valued at $301,151,000 after purchasing an additional 1,289,230 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of TE Connectivity by 1,000.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,335,477 shares of the electronics maker’s stock worth $193,965,000 after buying an additional 1,214,122 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of TE Connectivity by 12.5% in the 4th quarter. Wellington Management Group LLP now owns 3,630,003 shares of the electronics maker’s stock worth $510,015,000 after buying an additional 403,750 shares during the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Robert J. Ott sold 2,913 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total value of $450,320.67. Following the transaction, the senior vice president now directly owns 25,504 shares of the company’s stock, valued at approximately $3,942,663.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Shadrak W. Kroeger sold 5,000 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $149.86, for a total value of $749,300.00. Following the sale, the insider now owns 25,976 shares in the company, valued at $3,892,763.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Robert J. Ott sold 2,913 shares of TE Connectivity 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 transaction, 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. Over the last quarter, insiders sold 76,363 shares of company stock valued at $11,791,461. Insiders own 0.86% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Bank of America boosted their price objective on TE Connectivity from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Robert W. Baird increased their price target on TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, July 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 for the company in a research note on Tuesday, June 25th. Truist Financial increased their price objective on shares of TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Finally, Hsbc Global Res upgraded shares of TE Connectivity to a “hold” rating in a research note on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $158.45.

TE Connectivity Price Performance

NYSE TEL opened at $153.60 on Friday. The company has a current ratio of 1.51, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $46.68 billion, a P/E ratio of 14.05, a P/E/G ratio of 2.07 and a beta of 1.33. TE Connectivity Ltd. has a 12-month low of $115.00 and a 12-month high of $159.98. The firm’s fifty day simple moving average is $150.70 and its two-hundred day simple moving average is $146.90.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.05. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $4.01 billion. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. The company’s revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.77 earnings per share. Analysts forecast that TE Connectivity Ltd. will post 7.57 EPS for the current fiscal 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.