Dark Forest Capital Management LP Purchases New Stake in TE Connectivity Ltd. (NYSE:TEL)

Dark Forest Capital Management LP acquired a new position in shares of TE Connectivity Ltd. (NYSE:TEL) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 1,827 shares of the electronics maker’s stock, valued at approximately $275,000.

A number of other large investors have also recently made changes to their positions in TEL. Salem Investment Counselors Inc. lifted its position in TE Connectivity by 112.4% in the 1st quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock valued at $27,000 after acquiring an additional 100 shares in the last quarter. Versant Capital Management Inc lifted its holdings 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 valued at $28,000 after purchasing an additional 128 shares in the last quarter. Olistico Wealth LLC bought a new position in shares of TE Connectivity in the second quarter valued at approximately $30,000. Bank & Trust Co purchased a new position in shares of TE Connectivity during the second quarter valued at approximately $35,000. Finally, Rise Advisors LLC bought a new stake in TE Connectivity during the first quarter worth $40,000. 91.43% of the stock is owned by institutional investors.

TE Connectivity Stock Up 1.1 %

Shares of NYSE TEL opened at $151.22 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.51 and a quick ratio of 0.99. The stock has a market capitalization of $45.96 billion, a PE ratio of 13.84, a P/E/G ratio of 2.02 and a beta of 1.33. TE Connectivity Ltd. has a one year low of $115.00 and a one year high of $159.98. The business’s fifty day moving average price is $148.86 and its 200-day moving average price is $147.76.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.91 EPS for the quarter, beating the consensus estimate of $1.86 by $0.05. The business had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.01 billion. TE Connectivity had a net margin of 21.94% and a return on equity of 18.53%. The company’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.77 earnings per share. On average, equities research analysts anticipate that TE Connectivity Ltd. will post 7.57 EPS for the current year.

Insider Activity at TE Connectivity

In other TE Connectivity news, SVP Robert J. Ott sold 2,913 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total transaction of $450,320.67. Following the sale, the senior vice president now owns 25,504 shares in the company, valued at $3,942,663.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Aaron Kyle Stucki sold 8,750 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $155.00, for a total transaction of $1,356,250.00. Following the completion of the transaction, the insider now owns 20,556 shares of the company’s stock, valued at $3,186,180. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Robert J. Ott sold 2,913 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total transaction of $450,320.67. Following the completion of the sale, the senior vice president now owns 25,504 shares in the company, valued at $3,942,663.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,363 shares of company stock worth $11,042,161. Corporate insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on TEL. Truist Financial lifted their price objective on shares of TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. HSBC downgraded shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price objective for the company. in a research report on Wednesday, July 24th. Wells Fargo & Company dropped their target price on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a research report on Friday, September 20th. Bank of America upped their target price on TE Connectivity from $165.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Finally, Hsbc Global Res upgraded TE Connectivity to a “hold” rating in a report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $158.73.

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.