Silvercrest Asset Management Group LLC Acquires 68 Shares of TE Connectivity Ltd. (NYSE:TEL)

Silvercrest Asset Management Group LLC grew its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 2.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,977 shares of the electronics maker’s stock after buying an additional 68 shares during the period. Silvercrest Asset Management Group LLC’s holdings in TE Connectivity were worth $432,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Ascent Group LLC bought a new stake in shares of TE Connectivity during the 1st quarter valued at $1,312,000. SVB Wealth LLC boosted its stake in TE Connectivity by 3.1% in the 1st quarter. SVB Wealth LLC now owns 27,027 shares of the electronics maker’s stock worth $3,925,000 after purchasing an additional 824 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in TE Connectivity by 54.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker’s stock worth $2,265,218,000 after purchasing an additional 5,526,230 shares in the last quarter. Bank of Nova Scotia Trust Co. boosted its stake in TE Connectivity by 0.4% in the 1st quarter. Bank of Nova Scotia Trust Co. now owns 68,926 shares of the electronics maker’s stock worth $10,011,000 after purchasing an additional 286 shares in the last quarter. Finally, LRI Investments LLC bought a new position in TE Connectivity in the 1st quarter worth about $72,000. Institutional investors own 91.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Robert W. Baird upped their price target on shares of TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Vertical Research assumed coverage on shares of TE Connectivity in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 price target on the stock. Truist Financial upped their price target on shares of TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. HSBC cut shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 target price on the stock. in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. lowered their target price on shares of TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $158.45.

Insider Buying and Selling

In related news, SVP Robert J. Ott sold 2,913 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total value of $450,320.67. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Shadrak W. Kroeger sold 5,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $149.86, for a total transaction of $749,300.00. Following the completion of the transaction, the insider now directly owns 25,976 shares in the company, valued at approximately $3,892,763.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $154.59, for a total value of $450,320.67. Following the transaction, the senior vice president now owns 25,504 shares of the company’s stock, valued at $3,942,663.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,663 shares of company stock valued at $2,555,871. 0.86% of the stock is owned by corporate insiders.

TE Connectivity Price Performance

NYSE TEL opened at $154.33 on Thursday. TE Connectivity Ltd. has a 52 week low of $115.00 and a 52 week high of $159.98. The firm has a market capitalization of $46.90 billion, a P/E ratio of 14.12, a PEG ratio of 2.08 and a beta of 1.33. The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.23. The company has a 50-day moving average price of $151.39 and a 200-day moving average price of $145.65.

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

About TE Connectivity

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.