Mission Wealth Management LP Makes New Investment in TE Connectivity Ltd. (NYSE:TEL)

Mission Wealth Management LP acquired a new stake in shares of TE Connectivity Ltd. (NYSE:TELFree Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 2,117 shares of the electronics maker’s stock, valued at approximately $307,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in TE Connectivity in the fourth quarter worth $693,985,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of TE Connectivity by 2.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,632,809 shares of the electronics maker’s stock valued at $650,910,000 after buying an additional 111,340 shares in the last quarter. Impax Asset Management Group plc grew its position in shares of TE Connectivity by 1.4% in the 4th quarter. Impax Asset Management Group plc now owns 3,774,896 shares of the electronics maker’s stock worth $529,798,000 after buying an additional 51,866 shares during the period. Morgan Stanley increased its stake in shares of TE Connectivity by 11.7% in the 3rd quarter. Morgan Stanley now owns 3,738,943 shares of the electronics maker’s stock worth $461,872,000 after acquiring an additional 390,723 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in TE Connectivity by 12.5% during the 4th quarter. Wellington Management Group LLP now owns 3,630,003 shares of the electronics maker’s stock valued at $510,015,000 after acquiring an additional 403,750 shares during the period. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $149.43 on Friday. The business has a 50-day simple moving average of $148.48 and a two-hundred day simple moving average of $143.48. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.92 and a current ratio of 1.45. The firm has a market cap of $45.76 billion, a price-to-earnings ratio of 13.67, a price-to-earnings-growth ratio of 2.20 and a beta of 1.33. TE Connectivity Ltd. has a fifty-two week low of $115.00 and a fifty-two week high of $153.54.

TE Connectivity (NYSE:TELGet Free Report) last released its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.03. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.96 billion. During the same period in the previous year, the company earned $1.65 earnings per share. The firm’s quarterly revenue was down 4.6% on a year-over-year basis. On average, analysts expect that TE Connectivity Ltd. will post 7.5 earnings per share for the current year.

Insider Transactions at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 5,000 shares of the company’s 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 completion of the sale, the insider now owns 25,976 shares in the company, valued at $3,892,763.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Mark Trudeau sold 7,044 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $141.49, for a total transaction of $996,655.56. Following the completion of the sale, the director now owns 5,917 shares of the company’s stock, valued at approximately $837,196.33. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Shadrak W. Kroeger sold 5,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $149.86, for a total value of $749,300.00. Following the completion of the transaction, the insider now directly owns 25,976 shares in the company, valued at $3,892,763.36. The disclosure for this sale can be found here. Company insiders own 0.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TEL shares. Wells Fargo & Company cut their price objective on shares of TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 25th. Robert W. Baird cut their price target on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. The Goldman Sachs Group reiterated a “buy” rating on shares of TE Connectivity in a research note on Monday, April 1st. JPMorgan Chase & Co. cut their target price 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. Finally, Jefferies Financial Group began coverage on TE Connectivity in a report on Tuesday, April 9th. They set a “buy” rating and a $180.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, TE Connectivity currently has a consensus rating of “Moderate Buy” and an average price target of $155.13.

Check Out Our Latest Stock Analysis on TE Connectivity

TE Connectivity Profile

(Free Report)

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.

Further Reading

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

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