Amundi Makes New $159.99 Million Investment in TE Connectivity Ltd. (NYSE:TEL)

Amundi bought a new position in shares of TE Connectivity Ltd. (NYSE:TEL) in the 4th quarter, Holdings Channel reports. The fund bought 1,113,374 shares of the electronics maker’s stock, valued at approximately $159,992,000.

Other institutional investors have also added to or reduced their stakes in the company. Modera Wealth Management LLC raised its holdings in TE Connectivity by 2.8% in the 4th quarter. Modera Wealth Management LLC now owns 2,861 shares of the electronics maker’s stock valued at $409,000 after acquiring an additional 78 shares in the last quarter. Ascent Wealth Partners LLC boosted its stake in shares of TE Connectivity by 1.0% during the fourth quarter. Ascent Wealth Partners LLC now owns 8,610 shares of the electronics maker’s stock valued at $1,231,000 after purchasing an additional 85 shares in the last quarter. Metis Global Partners LLC grew its holdings in TE Connectivity by 1.0% during the 3rd quarter. Metis Global Partners LLC now owns 9,771 shares of the electronics maker’s stock worth $1,475,000 after acquiring an additional 96 shares during the last quarter. Callan Capital LLC grew its stake in shares of TE Connectivity by 5.4% in the fourth quarter. Callan Capital LLC now owns 2,071 shares of the electronics maker’s stock worth $296,000 after purchasing an additional 106 shares during the last quarter. Finally, SRS Capital Advisors Inc. increased its stake in shares of TE Connectivity by 117.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock valued at $28,000 after buying an additional 107 shares during the period. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Stock Performance

Shares of TEL stock opened at $150.90 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a 52 week low of $137.61 and a 52 week high of $159.98. The firm has a market capitalization of $45.02 billion, a PE ratio of 24.10, a P/E/G ratio of 2.11 and a beta of 1.32. The company has a 50 day moving average price of $148.30 and a 200-day moving average price of $148.74.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm’s revenue was up .1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.84 earnings per share. As a group, equities research analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

Insider Transactions at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total value of $3,669,250.00. Following the completion of the transaction, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,812,497.52. This represents a 49.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TEL shares. Bank of America lifted their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Citigroup boosted their price target on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Truist Financial dropped their target price on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective for the company in a research note on Thursday, January 23rd. Finally, Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $167.00.

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.