Industrial Alliance Investment Management Inc. Buys 88 Shares of TE Connectivity Ltd. (NYSE:TEL)

Industrial Alliance Investment Management Inc. boosted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 4.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,089 shares of the electronics maker’s stock after acquiring an additional 88 shares during the quarter. Industrial Alliance Investment Management Inc.’s holdings in TE Connectivity were worth $303,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of TE Connectivity by 2.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 65,166 shares of the electronics maker’s stock worth $9,156,000 after buying an additional 1,685 shares in the last quarter. Ritholtz Wealth Management purchased a new position in TE Connectivity in the 4th quarter worth about $585,000. Caprock Group LLC grew its stake in shares of TE Connectivity by 1.6% during the 4th quarter. Caprock Group LLC now owns 5,581 shares of the electronics maker’s stock valued at $784,000 after purchasing an additional 88 shares during the period. Fifth Third Bancorp grew its stake in shares of TE Connectivity by 1.8% during the 4th quarter. Fifth Third Bancorp now owns 47,863 shares of the electronics maker’s stock valued at $6,725,000 after acquiring an additional 833 shares during the period. Finally, AdvisorNet Financial Inc lifted its holdings in TE Connectivity by 5.6% in the 4th quarter. AdvisorNet Financial Inc now owns 13,090 shares of the electronics maker’s stock worth $1,839,000 after purchasing an additional 696 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on TEL. Jefferies Financial Group began coverage on TE Connectivity in a research note on Tuesday, April 9th. They issued a “buy” rating and a $180.00 target price on the stock. JPMorgan Chase & Co. lowered their price objective on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Hsbc Global Res upgraded TE Connectivity to a “hold” rating in a report on Wednesday, July 24th. Truist Financial raised their price target on TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Finally, Wells Fargo & Company reduced their price target on TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating for the company in a report on Tuesday, June 25th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, TE Connectivity presently has an average rating of “Hold” and a consensus target price of $158.45.

TE Connectivity Stock Performance

NYSE TEL traded up $1.26 on Wednesday, reaching $154.21. The stock had a trading volume of 711,038 shares, compared to its average volume of 1,952,781. The firm has a fifty day moving average of $151.34 and a two-hundred day moving average of $145.59. The company has a market cap of $47.22 billion, a P/E ratio of 13.99, a price-to-earnings-growth ratio of 2.12 and a beta of 1.33. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.51 and a quick ratio of 0.99. TE Connectivity Ltd. has a 1-year low of $115.00 and a 1-year high of $159.98.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.05. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $4.01 billion. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. The company’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.77 earnings per share. On average, equities research analysts anticipate that TE Connectivity Ltd. will post 7.56 EPS for the current year.

Insider Activity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $149.86, for a total transaction of $749,300.00. Following the transaction, the insider now owns 25,976 shares in the company, valued at approximately $3,892,763.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Shadrak W. Kroeger sold 5,000 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $149.86, for a total transaction of $749,300.00. Following the transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,892,763.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Aaron Kyle Stucki sold 8,750 shares of the stock in a transaction on 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 sale, the insider now owns 20,556 shares of the company’s stock, valued at approximately $3,186,180. The disclosure for this sale can be found here. 0.86% of the stock is owned by company insiders.

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.