Wedge Capital Management L L P NC Increases Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Wedge Capital Management L L P NC boosted its stake in TE Connectivity Ltd. (NYSE:TEL) by 3.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 479,375 shares of the electronics maker’s stock after purchasing an additional 17,732 shares during the quarter. TE Connectivity comprises approximately 0.9% of Wedge Capital Management L L P NC’s portfolio, making the stock its 23rd biggest holding. Wedge Capital Management L L P NC’s holdings in TE Connectivity were worth $65,780,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Piscataqua Savings Bank raised its stake in shares of TE Connectivity by 0.5% during the second quarter. Piscataqua Savings Bank now owns 13,777 shares of the electronics maker’s stock worth $1,862,000 after acquiring an additional 68 shares in the last quarter. Optas LLC raised its stake in shares of TE Connectivity by 2.9% during the second quarter. Optas LLC now owns 2,683 shares of the electronics maker’s stock worth $362,000 after acquiring an additional 76 shares in the last quarter. Scotia Capital Inc. raised its stake in shares of TE Connectivity by 0.3% during the second quarter. Scotia Capital Inc. now owns 27,546 shares of the electronics maker’s stock worth $3,724,000 after acquiring an additional 76 shares in the last quarter. Wellington Shields & Co. LLC raised its stake in shares of TE Connectivity by 2.9% during the second quarter. Wellington Shields & Co. LLC now owns 2,880 shares of the electronics maker’s stock worth $389,000 after acquiring an additional 80 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. raised its stake in shares of TE Connectivity by 8.5% during the second quarter. C M Bidwell & Associates Ltd. now owns 1,068 shares of the electronics maker’s stock worth $144,000 after acquiring an additional 84 shares in the last quarter. 89.60% of the stock is currently owned by institutional investors and hedge funds.

In related news, SVP Robert J. Ott sold 8,737 shares of TE Connectivity stock in a transaction on Wednesday, November 3rd. The shares were sold at an average price of $153.46, for a total value of $1,340,780.02. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.79% of the company’s stock.

TEL has been the topic of several research reports. Royal Bank of Canada lifted their price target on shares of TE Connectivity from $160.00 to $166.00 and gave the stock an “outperform” rating in a research note on Thursday, July 29th. Truist Securities lifted their price target on shares of TE Connectivity from $139.00 to $149.00 and gave the stock a “hold” rating in a research note on Thursday, July 29th. Zacks Investment Research cut shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $161.00 target price on the stock. in a report on Tuesday, August 17th. Jefferies Financial Group started coverage on shares of TE Connectivity in a report on Thursday, July 29th. They issued a “buy” rating and a $170.00 target price on the stock. Finally, Evercore ISI upgraded shares of TE Connectivity from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $160.00 to $180.00 in a report on Wednesday, October 20th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $155.47.

NYSE:TEL traded down $0.39 during trading hours on Thursday, hitting $160.36. The company had a trading volume of 1,678,369 shares, compared to its average volume of 1,574,983. The company has a market capitalization of $52.33 billion, a PE ratio of 23.62, a price-to-earnings-growth ratio of 2.24 and a beta of 1.36. The stock has a 50-day moving average price of $149.82 and a 200 day moving average price of $143.90. TE Connectivity Ltd. has a 52 week low of $113.00 and a 52 week high of $166.44. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.56 and a quick ratio of 1.02.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, October 27th. The electronics maker reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.05. The business had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.77 billion. TE Connectivity had a net margin of 15.15% and a return on equity of 21.58%. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.16 earnings per share. Analysts anticipate that TE Connectivity Ltd. will post 6.99 EPS for the current fiscal year.

TE Connectivity Company Profile

TE Connectivity Ltd. engages in the design and manufacture of connectivity and sensors solutions. It operates through the following segments: Transportation, Industrial, and Communications Solutions. The Transportation Solutions segment offers products that are used in the automotive, commercial transportation, and sensors markets.

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Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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