Brown Advisory Inc. Buys 1,800 Shares of TE Connectivity Ltd. (NYSE:TEL)

Posted by Defense World Staff on Aug 15th, 2023

Brown Advisory Inc. increased its stake in shares of TE Connectivity Ltd. (NYSE:TEL – Free Report) by 14.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,154 shares of the electronics maker’s stock after buying an additional 1,800 shares during the quarter. Brown Advisory Inc.’s holdings in TE Connectivity were worth $1,856,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in TE Connectivity in the 4th quarter valued at $584,131,000. Moneta Group Investment Advisors LLC raised its position in TE Connectivity by 119,784.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,247,666 shares of the electronics maker’s stock valued at $372,832,000 after purchasing an additional 3,244,957 shares during the last quarter. Morgan Stanley raised its position in TE Connectivity by 56.5% in the 4th quarter. Morgan Stanley now owns 3,569,840 shares of the electronics maker’s stock valued at $409,818,000 after purchasing an additional 1,289,023 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in TE Connectivity by 11.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,990,152 shares of the electronics maker’s stock valued at $917,270,000 after purchasing an additional 837,735 shares during the last quarter. Finally, Baird Financial Group Inc. raised its position in TE Connectivity by 34.0% in the 4th quarter. Baird Financial Group Inc. now owns 2,603,658 shares of the electronics maker’s stock valued at $298,900,000 after purchasing an additional 660,760 shares during the last quarter. Institutional investors own 93.18% of the company’s stock.

Insider Buying and Selling at TE Connectivity

In other news, Director Terrence R. Curtin sold 70,721 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $143.02, for a total value of $10,114,517.42. Following the sale, the director now directly owns 54,969 shares in the company, valued at $7,861,666.38. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TEL. JPMorgan Chase & Co. lifted their price objective on TE Connectivity from $132.00 to $137.00 and gave the company a “neutral” rating in a research report on Wednesday, April 19th. Evercore ISI raised TE Connectivity from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $130.00 to $150.00 in a research note on Friday, May 5th. Credit Suisse Group lifted their target price on TE Connectivity from $138.00 to $150.00 in a research note on Tuesday, June 20th. Robert W. Baird lifted their target price on TE Connectivity from $149.00 to $153.00 in a research note on Thursday, July 27th. Finally, Truist Financial lifted their target price on TE Connectivity from $127.00 to $147.00 and gave the company a “hold” rating in a research note on Thursday, July 27th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $144.33.

View Our Latest Stock Report on TEL

TE Connectivity Stock Up 0.3 %

Shares of TE Connectivity stock opened at $133.42 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 1.80 and a debt-to-equity ratio of 0.34. TE Connectivity Ltd. has a 12 month low of $104.76 and a 12 month high of $146.60. The business has a fifty day simple moving average of $137.77 and a 200 day simple moving average of $130.14. The stock has a market cap of $41.89 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 2.82 and a beta of 1.33.

TE Connectivity (NYSE:TEL – Get Free Report) last announced its quarterly earnings data on Wednesday, July 26th. The electronics maker reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.11. TE Connectivity had a return on equity of 19.55% and a net margin of 12.63%. The business had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same period in the previous year, the firm earned $1.86 earnings per share. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. Research analysts predict that TE Connectivity Ltd. will post 6.69 EPS for the current year.

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.