Inscription Capital LLC Acquires New Holdings in TE Connectivity Ltd. (NYSE:TEL)

Inscription Capital LLC acquired a new stake in shares of TE Connectivity Ltd. (NYSE:TEL) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 2,748 shares of the electronics maker’s stock, valued at approximately $372,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in TE Connectivity by 0.3% during the second quarter. Vanguard Group Inc. now owns 27,358,318 shares of the electronics maker’s stock valued at $3,699,118,000 after purchasing an additional 84,230 shares during the period. Clearbridge Investments LLC grew its holdings in TE Connectivity by 13.0% during the first quarter. Clearbridge Investments LLC now owns 11,108,776 shares of the electronics maker’s stock valued at $1,434,254,000 after purchasing an additional 1,275,052 shares during the period. Ameriprise Financial Inc. grew its holdings in TE Connectivity by 21.5% during the first quarter. Ameriprise Financial Inc. now owns 10,614,548 shares of the electronics maker’s stock valued at $1,370,557,000 after purchasing an additional 1,875,492 shares during the period. Janus Henderson Group PLC grew its holdings in TE Connectivity by 14.7% during the first quarter. Janus Henderson Group PLC now owns 7,513,393 shares of the electronics maker’s stock valued at $970,068,000 after purchasing an additional 964,977 shares during the period. Finally, Geode Capital Management LLC grew its holdings in TE Connectivity by 2.7% during the second quarter. Geode Capital Management LLC now owns 4,700,887 shares of the electronics maker’s stock valued at $633,459,000 after purchasing an additional 121,488 shares during the period. Hedge funds and other institutional investors own 89.51% of the company’s stock.

A number of research analysts have weighed in on TEL shares. Truist lifted their price target on shares of TE Connectivity from $139.00 to $149.00 and gave the company a “hold” rating in a research note on Thursday, July 29th. Royal Bank of Canada lifted their price target on shares of TE Connectivity from $160.00 to $166.00 and gave the company an “outperform” rating in a research note on Thursday, July 29th. Robert W. Baird lifted their price target on shares of TE Connectivity from $145.00 to $158.00 and gave the company an “outperform” rating in a research note on Thursday, July 29th. Morgan Stanley lifted their price target on shares of TE Connectivity from $135.00 to $138.00 and gave the company an “equal weight” rating in a research note on Thursday, July 29th. Finally, Truist Securities lifted their price target on shares of TE Connectivity from $139.00 to $149.00 and gave the company a “hold” rating in a research note on Thursday, July 29th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, TE Connectivity presently has an average rating of “Buy” and a consensus price target of $150.08.

Shares of TEL stock opened at $141.42 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.59 and a debt-to-equity ratio of 0.36. The company’s fifty day simple moving average is $146.59 and its 200-day simple moving average is $139.21. TE Connectivity Ltd. has a 12 month low of $94.16 and a 12 month high of $153.54. The firm has a market cap of $46.39 billion, a PE ratio of 27.84, a P/E/G ratio of 2.15 and a beta of 1.36.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, July 28th. The electronics maker reported $1.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.58 by $0.21. TE Connectivity had a net margin of 11.81% and a return on equity of 20.47%. The firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.73 billion. On average, equities analysts predict that TE Connectivity Ltd. will post 6.48 earnings per share for the current fiscal year.

In other TE Connectivity news, Director Daniel J. Phelan purchased 231 shares of the firm’s stock in a transaction that occurred on Tuesday, August 10th. The shares were acquired at an average cost of $150.25 per share, for a total transaction of $34,707.75. Following the completion of the purchase, the director now owns 34,151 shares of the company’s stock, valued at approximately $5,131,187.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas J. Lynch sold 100,000 shares of the stock in a transaction dated Thursday, August 5th. The stock was sold at an average price of $148.31, for a total transaction of $14,831,000.00. The disclosure for this sale can be found here. 0.79% of the stock is owned by insiders.

TE Connectivity 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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