iA Global Asset Management Inc. Grows Position in TE Connectivity Ltd. (NYSE:TEL)

iA Global Asset Management Inc. increased its position in TE Connectivity Ltd. (NYSE:TEL) by 11.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,795 shares of the electronics maker’s stock after purchasing an additional 2,276 shares during the period. iA Global Asset Management Inc.’s holdings in TE Connectivity were worth $3,279,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TEL. Simplicity Wealth LLC grew its stake in shares of TE Connectivity by 2.7% during the 2nd quarter. Simplicity Wealth LLC now owns 2,509 shares of the electronics maker’s stock valued at $377,000 after purchasing an additional 67 shares during the period. Silvercrest Asset Management Group LLC increased its holdings in TE Connectivity by 2.3% during the first quarter. Silvercrest Asset Management Group LLC now owns 2,977 shares of the electronics maker’s stock valued at $432,000 after buying an additional 68 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its position in TE Connectivity by 3.9% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,835 shares of the electronics maker’s stock worth $267,000 after acquiring an additional 69 shares during the period. Manchester Capital Management LLC boosted its stake in shares of TE Connectivity by 5.4% during the 1st quarter. Manchester Capital Management LLC now owns 1,427 shares of the electronics maker’s stock worth $207,000 after acquiring an additional 73 shares during the last quarter. Finally, Miracle Mile Advisors LLC grew its position in shares of TE Connectivity by 0.6% during the 1st quarter. Miracle Mile Advisors LLC now owns 13,326 shares of the electronics maker’s stock valued at $1,935,000 after acquiring an additional 75 shares during the period. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Up 1.4 %

TEL opened at $153.60 on Friday. The company has a market capitalization of $46.68 billion, a PE ratio of 14.05, a price-to-earnings-growth ratio of 2.08 and a beta of 1.33. The firm has a 50-day simple moving average of $150.73 and a two-hundred day simple moving average of $146.97. The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.23. TE Connectivity Ltd. has a 52 week low of $115.00 and a 52 week high of $159.98.

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

Insider Activity

In related news, insider Aaron Kyle Stucki sold 8,750 shares of the business’s stock in a transaction on 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 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 is available at the SEC website. In related news, insider Aaron Kyle Stucki sold 8,750 shares of TE Connectivity stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $155.00, for a total value of $1,356,250.00. Following the completion of the transaction, the insider now owns 20,556 shares in the company, valued at $3,186,180. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Heath A. Mitts sold 59,700 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $154.70, for a total value of $9,235,590.00. Following the sale, the chief financial officer now owns 38,073 shares in the company, valued at $5,889,893.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,363 shares of company stock worth $11,791,461. 0.86% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on TEL. Robert W. Baird lifted their target price on TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. 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 report on Thursday, July 25th. HSBC cut shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 target price on the stock. in a research note on Wednesday, July 24th. Vertical Research initiated coverage on shares of TE Connectivity in a research report on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 price target for the company. Finally, Hsbc Global Res upgraded shares of TE Connectivity to a “hold” rating in a research note on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $158.45.

TE Connectivity Company 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.