BDF Gestion Invests $1.85 Million in TE Connectivity Ltd. (NYSE:TEL)

BDF Gestion acquired a new stake in TE Connectivity Ltd. (NYSE:TEL) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 12,269 shares of the electronics maker’s stock, valued at approximately $1,846,000.

Several other hedge funds have also recently bought and sold shares of TEL. Ellenbecker Investment Group purchased a new position in shares of TE Connectivity in the second quarter valued at approximately $221,000. Simplicity Wealth LLC grew its stake in shares of TE Connectivity by 2.7% in the second quarter. Simplicity Wealth LLC now owns 2,509 shares of the electronics maker’s stock worth $377,000 after acquiring an additional 67 shares in the last quarter. Richard P Slaughter Associates Inc increased its position in shares of TE Connectivity by 1.1% during the second quarter. Richard P Slaughter Associates Inc now owns 15,465 shares of the electronics maker’s stock worth $2,326,000 after acquiring an additional 172 shares during the period. Prism Advisors Inc. acquired a new stake in shares of TE Connectivity in the second quarter valued at $237,000. Finally, First Affirmative Financial Network grew its stake in TE Connectivity by 41.6% during the 2nd quarter. First Affirmative Financial Network now owns 3,002 shares of the electronics maker’s stock worth $452,000 after purchasing an additional 882 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Robert W. Baird lifted their price objective on TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Vertical Research started coverage on shares of TE Connectivity in a report on Tuesday, July 23rd. They set a “hold” rating and a $155.00 price target for the company. HSBC lowered shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price objective on the stock. in a report on Wednesday, July 24th. Hsbc Global Res upgraded shares of TE Connectivity to a “hold” rating in a research note on Wednesday, July 24th. Finally, Truist Financial raised their price target on TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $158.45.

TE Connectivity Stock Performance

Shares of TE Connectivity stock traded up $0.53 on Friday, hitting $143.99. The stock had a trading volume of 1,085,692 shares, compared to its average volume of 1,961,720. The company’s 50 day moving average price is $150.66 and its 200 day moving average price is $146.19. The stock has a market cap of $43.76 billion, a price-to-earnings ratio of 13.17, a P/E/G ratio of 1.94 and a beta of 1.33. The company has a current ratio of 1.51, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23. TE Connectivity Ltd. has a 52-week low of $115.00 and a 52-week high of $159.98.

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

Insiders Place Their Bets

In other news, CFO Heath A. Mitts sold 59,700 shares of the stock in a transaction dated Wednesday, July 31st. The shares were 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 $5,889,893.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, 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 transaction, the chief financial officer now owns 38,073 shares in the company, valued at approximately $5,889,893.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shadrak W. Kroeger sold 5,000 shares of TE Connectivity stock in a transaction that occurred on Monday, June 3rd. The shares were 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 owns 25,976 shares in the company, valued at $3,892,763.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,363 shares of company stock valued at $11,791,461. Insiders own 0.86% of the company’s stock.

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.