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TE Connectivity Ltd. (NYSE:TEL) Shares Acquired by Hexagon Capital Partners LLC

Defense World ·  10/03/2022 19:01

Hexagon Capital Partners LLC grew its position in TE Connectivity Ltd. (NYSE:TEL – Get Rating) by 222.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 555 shares of the electronics maker's stock after purchasing an additional 383 shares during the period. Hexagon Capital Partners LLC's holdings in TE Connectivity were worth $63,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TEL. Wedbush Securities Inc. grew its holdings in TE Connectivity by 1.4% during the second quarter. Wedbush Securities Inc. now owns 8,465 shares of the electronics maker's stock worth $958,000 after acquiring an additional 116 shares during the period. Carderock Capital Management Inc. grew its holdings in TE Connectivity by 0.4% during the second quarter. Carderock Capital Management Inc. now owns 26,152 shares of the electronics maker's stock worth $2,959,000 after acquiring an additional 115 shares during the period. Guyasuta Investment Advisors Inc. grew its holdings in TE Connectivity by 1.2% during the second quarter. Guyasuta Investment Advisors Inc. now owns 166,207 shares of the electronics maker's stock worth $18,806,000 after acquiring an additional 2,007 shares during the period. Charter Oak Capital Management LLC acquired a new stake in TE Connectivity during the second quarter worth about $859,000. Finally, Amplius Wealth Advisors LLC grew its holdings in TE Connectivity by 12.8% during the second quarter. Amplius Wealth Advisors LLC now owns 2,357 shares of the electronics maker's stock worth $266,000 after acquiring an additional 268 shares during the period. 90.61% of the stock is owned by institutional investors and hedge funds.

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TE Connectivity Stock Performance

NYSE TEL opened at $110.36 on Monday. The company has a market cap of $35.30 billion, a PE ratio of 14.41, a price-to- earnings -growth ratio of 1.45 and a beta of 1.31. The stock's 50 day simple moving average is $127.03 and its 200-day simple moving average is $124.67. TE Connectivity Ltd. has a 1-year low of $107.12 and a 1-year high of $166.44. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.50 and a quick ratio of 0.90.

TE Connectivity (NYSE:TEL – Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The electronics maker reported $1.86 EPS for the quarter, topping analysts' consensus estimates of $1.75 by $0.11. TE Connectivity had a return on equity of 21.98% and a net margin of 15.97%. The firm had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter last year, the business posted $1.79 earnings per share. The firm's revenue was up 6.6% compared to the same quarter last year. As a group, equities research analysts anticipate that TE Connectivity Ltd. will post 7.3 EPS for the current fiscal year.

TE Connectivity announced that its board has initiated a stock repurchase program on Friday, June 17th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the electronics maker to buy up to 4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

TEL has been the topic of several analyst reports. Cowen dropped their target price on TE Connectivity from $160.00 to $125.00 and set a "market perform" rating on the stock in a report on Thursday, June 30th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $134.00 price objective (down from $166.00) on shares of TE Connectivity in a report on Thursday, July 14th. Morgan Stanley dropped their price objective on TE Connectivity from $147.00 to $140.00 and set an "equal weight" rating on the stock in a report on Friday, June 10th. StockNews.com raised TE Connectivity from a "hold" rating to a "buy" rating in a report on Saturday, September 24th. Finally, Cowen dropped their price objective on TE Connectivity from $160.00 to $125.00 and set a "market perform" rating on the stock in a report on Thursday, June 30th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $148.00.

Insider Buying and Selling

In related news, Director Terrence R. Curtin sold 21,929 shares of TE Connectivity stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $131.75, for a total transaction of $2,889,145.75. Following the transaction, the director now owns 54,969 shares in the company, valued at $7,242,165.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Terrence R. Curtin sold 21,929 shares of TE Connectivity stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $131.75, for a total transaction of $2,889,145.75. Following the transaction, the director now owns 54,969 shares in the company, valued at $7,242,165.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP John S. Jenkins sold 2,990 shares of the firm's stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $131.97, for a total value of $394,590.30. Following the sale, the executive vice president now directly owns 18,406 shares of the company's stock, valued at approximately $2,429,039.82. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,919 shares of company stock worth $4,203,806. 0.73% of the stock is owned by corporate insiders.

TE Connectivity Company Profile

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TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the Asia-Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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