Assetmark Inc. Increases Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Assetmark Inc. raised its holdings in TE Connectivity Ltd. (NYSE:TEL) by 18.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,677 shares of the electronics maker’s stock after buying an additional 411 shares during the quarter. Assetmark Inc.’s holdings in TE Connectivity were worth $383,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TEL. Verdence Capital Advisors LLC acquired a new stake in TE Connectivity in the 3rd quarter worth approximately $213,000. Ashton Thomas Securities LLC acquired a new stake in shares of TE Connectivity during the third quarter worth $75,000. Nations Financial Group Inc. IA ADV grew its holdings in shares of TE Connectivity by 15.0% during the third quarter. Nations Financial Group Inc. IA ADV now owns 8,356 shares of the electronics maker’s stock valued at $1,262,000 after buying an additional 1,089 shares during the last quarter. Apollon Wealth Management LLC increased its position in shares of TE Connectivity by 2.7% in the 3rd quarter. Apollon Wealth Management LLC now owns 8,346 shares of the electronics maker’s stock valued at $1,260,000 after acquiring an additional 223 shares during the period. Finally, Ashton Thomas Private Wealth LLC raised its stake in TE Connectivity by 2.6% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 13,290 shares of the electronics maker’s stock worth $2,007,000 after acquiring an additional 342 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on TEL. Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Wells Fargo & Company upped their target price on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. Truist Financial reduced their price target on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Bank of America upped their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Finally, HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price for the company in a report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, TE Connectivity currently has an average rating of “Hold” and an average price target of $167.00.

Insider Activity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $151.13, for a total value of $587,744.57. Following the transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,925,752.88. This trade represents a 13.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.90% of the company’s stock.

TE Connectivity Price Performance

Shares of TE Connectivity stock opened at $143.09 on Thursday. The firm has a market cap of $42.69 billion, a PE ratio of 22.86, a P/E/G ratio of 2.11 and a beta of 1.32. The business has a 50-day moving average price of $148.44 and a 200 day moving average price of $148.62. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a twelve month low of $137.61 and a twelve month high of $159.98.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the prior year, the company posted $1.84 EPS. The business’s quarterly revenue was up .1% on a year-over-year basis. Sell-side analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

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.