Point72 Asia Singapore Pte. Ltd. Purchases 23,391 Shares of TE Connectivity Ltd. (NYSE:TEL)

Point72 Asia Singapore Pte. Ltd. lifted its holdings in TE Connectivity Ltd. (NYSE:TEL) by 435.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,757 shares of the electronics maker’s stock after purchasing an additional 23,391 shares during the period. TE Connectivity accounts for approximately 0.9% of Point72 Asia Singapore Pte. Ltd.’s portfolio, making the stock its 22nd biggest holding. Point72 Asia Singapore Pte. Ltd.’s holdings in TE Connectivity were worth $4,326,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. boosted its position in shares of TE Connectivity by 28.1% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 17,528 shares of the electronics maker’s stock valued at $2,463,000 after acquiring an additional 3,845 shares during the period. SageView Advisory Group LLC bought a new stake in TE Connectivity in the 4th quarter valued at $273,000. Advisory Services Network LLC grew its position in TE Connectivity by 2.7% in the 4th quarter. Advisory Services Network LLC now owns 6,514 shares of the electronics maker’s stock worth $915,000 after purchasing an additional 173 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of TE Connectivity by 4.5% during the 4th quarter. Hsbc Holdings PLC now owns 403,423 shares of the electronics maker’s stock worth $56,696,000 after purchasing an additional 17,341 shares during the period. Finally, JARISLOWSKY FRASER Ltd acquired a new position in shares of TE Connectivity during the fourth quarter valued at about $955,000. Institutional investors own 91.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Bank of America boosted their price target on TE Connectivity from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Vertical Research assumed coverage on TE Connectivity in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 target price for the company. StockNews.com assumed coverage on shares of TE Connectivity in a research note on Saturday. They set a “buy” rating on the stock. Hsbc Global Res upgraded shares of TE Connectivity to a “hold” rating in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company decreased their target price 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, September 20th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $158.73.

Insider Activity

In related news, SVP Robert J. Ott sold 2,913 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $3,942,663.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other 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 transaction, the insider now owns 20,556 shares of the company’s stock, valued at approximately $3,186,180. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Robert J. Ott sold 2,913 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total transaction of $450,320.67. Following the sale, the senior vice president now directly owns 25,504 shares of the company’s stock, valued at $3,942,663.36. The disclosure for this sale can be found here. Insiders have sold 71,363 shares of company stock valued at $11,042,161 over the last three months. 0.86% of the stock is owned by insiders.

TE Connectivity Trading Up 0.2 %

TEL stock opened at $148.78 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.51 and a quick ratio of 0.99. The stock has a market capitalization of $45.22 billion, a price-to-earnings ratio of 13.61, a P/E/G ratio of 2.02 and a beta of 1.33. The business has a fifty day moving average price of $149.22 and a 200 day moving average price of $147.59. TE Connectivity Ltd. has a fifty-two week low of $115.00 and a fifty-two week high of $159.98.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share (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 business had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the previous year, the business posted $1.77 earnings per share. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. Analysts expect 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.