IQ EQ FUND MANAGEMENT IRELAND Ltd Increases Stake in TE Connectivity Ltd. (NYSE:TEL)

IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 8.4% in the third quarter, HoldingsChannel.com reports. The firm owned 21,459 shares of the electronics maker’s stock after purchasing an additional 1,671 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in TE Connectivity were worth $3,240,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of TEL. Salem Investment Counselors Inc. grew its holdings in TE Connectivity by 112.4% in the first quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock worth $27,000 after purchasing an additional 100 shares during the period. Versant Capital Management Inc lifted its stake in shares of TE Connectivity by 209.8% in the second quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock worth $28,000 after buying an additional 128 shares in the last quarter. Olistico Wealth LLC purchased a new stake in shares of TE Connectivity during the second quarter valued at approximately $30,000. Armstrong Advisory Group Inc. increased its position in shares of TE Connectivity by 208.3% during the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock valued at $34,000 after acquiring an additional 150 shares in the last quarter. Finally, Bank & Trust Co bought a new position in TE Connectivity in the 2nd quarter valued at approximately $35,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Price Performance

Shares of TE Connectivity stock opened at $144.80 on Thursday. The stock has a market cap of $44.01 billion, a P/E ratio of 13.02, a P/E/G ratio of 1.91 and a beta of 1.33. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.51. The stock’s fifty day moving average is $147.81 and its 200 day moving average is $148.12. TE Connectivity Ltd. has a one year low of $115.00 and a one year high of $159.98.

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

Insider Activity

In related news, CFO Heath A. Mitts sold 59,700 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $154.70, for a total transaction of $9,235,590.00. Following the completion of the sale, the chief financial officer now owns 38,073 shares in the company, valued at approximately $5,889,893.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, SVP Robert J. Ott sold 2,913 shares of TE Connectivity stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total value of $450,320.67. Following the sale, the senior vice president now directly owns 25,504 shares of the company’s stock, valued at approximately $3,942,663.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Heath A. Mitts sold 59,700 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $154.70, for a total value of $9,235,590.00. Following the completion of the sale, the chief financial officer now owns 38,073 shares in the company, valued at $5,889,893.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TEL shares. Wells Fargo & Company decreased their price target on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a research note on Friday, September 20th. Wolfe Research raised TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. The Goldman Sachs Group dropped their price target on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Truist Financial increased their price objective on shares of TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Finally, StockNews.com started coverage on shares of TE Connectivity in a research report on Tuesday. They issued a “buy” rating for the company. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, TE Connectivity currently has a consensus rating of “Hold” and an average price target of $161.82.

TE Connectivity 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.