Smartleaf Asset Management LLC Acquires Shares of 3,408 TE Connectivity Ltd. (NYSE:TEL)

Smartleaf Asset Management LLC acquired a new stake in shares of TE Connectivity Ltd. (NYSE:TEL) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,408 shares of the electronics maker’s stock, valued at approximately $487,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. State Street Corp raised its position in TE Connectivity by 2.1% during the third quarter. State Street Corp now owns 12,852,607 shares of the electronics maker’s stock valued at $1,940,615,000 after purchasing an additional 268,837 shares during the period. Geode Capital Management LLC raised its position in TE Connectivity by 1.3% during the third quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker’s stock valued at $899,681,000 after purchasing an additional 75,658 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of TE Connectivity by 15.0% in the fourth quarter. Bank of New York Mellon Corp now owns 3,749,622 shares of the electronics maker’s stock worth $536,083,000 after buying an additional 488,680 shares during the period. EdgePoint Investment Group Inc. raised its holdings in shares of TE Connectivity by 26.0% in the third quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock worth $508,481,000 after buying an additional 694,917 shares during the period. Finally, Franklin Resources Inc. raised its holdings in shares of TE Connectivity by 31.1% in the third quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock worth $445,603,000 after buying an additional 712,228 shares during the period. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

TE Connectivity Stock Down 2.2 %

Shares of NYSE:TEL opened at $150.60 on Tuesday. TE Connectivity Ltd. has a 52-week low of $137.61 and a 52-week high of $159.98. The stock has a market cap of $44.93 billion, a P/E ratio of 24.06, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. The business’s 50 day moving average is $148.00 and its 200 day moving average is $148.78. 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 (NYSE:TEL) last announced its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.06. The business had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the firm earned $1.84 EPS. Sell-side analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TEL shares. Robert W. Baird increased their price target on TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Citigroup increased their price target on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Truist Financial reduced their price target on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Finally, Wells Fargo & Company increased their price target on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $167.00.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $151.13, for a total transaction of $587,744.57. Following the sale, the insider now 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.90% of the company’s stock.

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.