ExodusPoint Capital Management LP Sells 35,500 Shares of TE Connectivity Ltd. (NYSE:TEL)

ExodusPoint Capital Management LP decreased its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 64.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,356 shares of the electronics maker’s stock after selling 35,500 shares during the period. ExodusPoint Capital Management LP’s holdings in TE Connectivity were worth $2,539,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Cullen Frost Bankers Inc. acquired a new position in TE Connectivity during the first quarter worth $27,000. Magellan Asset Management Ltd bought a new stake in shares of TE Connectivity in the 4th quarter worth $28,000. Silicon Valley Capital Partners bought a new stake in shares of TE Connectivity in the 4th quarter worth $30,000. Delta Asset Management LLC TN bought a new stake in shares of TE Connectivity in the 4th quarter worth $33,000. Finally, Centerpoint Advisors LLC bought a new stake in shares of TE Connectivity in the 1st quarter worth $33,000. Institutional investors and hedge funds own 90.75% of the company’s stock.

Insiders Place Their Bets

In other TE Connectivity news, Director Terrence R. Curtin sold 70,721 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $143.02, for a total transaction of $10,114,517.42. Following the completion of the transaction, the director now owns 54,969 shares in the company, valued at $7,861,666.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on TEL shares. Robert W. Baird upped their target price on shares of TE Connectivity from $149.00 to $153.00 in a research note on Thursday, July 27th. Evercore ISI upgraded shares of TE Connectivity from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $130.00 to $150.00 in a research note on Friday, May 5th. StockNews.com assumed coverage on shares of TE Connectivity in a research report on Thursday, August 17th. They set a “buy” rating for the company. Truist Financial increased their price target on shares of TE Connectivity from $127.00 to $147.00 and gave the company a “hold” rating in a research report on Thursday, July 27th. Finally, Credit Suisse Group increased their price target on shares of TE Connectivity from $138.00 to $150.00 in a research report on Tuesday, June 20th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $144.33.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $132.39 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.80 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $41.56 billion, a PE ratio of 20.43, a P/E/G ratio of 2.75 and a beta of 1.33. TE Connectivity Ltd. has a twelve month low of $104.76 and a twelve month high of $146.60. The company has a 50-day moving average price of $137.08 and a two-hundred day moving average price of $130.03.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, July 26th. The electronics maker reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.11. The firm had revenue of $4 billion during the quarter, compared to analyst estimates of $4.05 billion. TE Connectivity had a net margin of 12.63% and a return on equity of 19.55%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the business earned $1.86 earnings per share. Equities analysts forecast that TE Connectivity Ltd. will post 6.69 EPS for the current year.

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.