Ashton Thomas Private Wealth LLC Has $2.09 Million Holdings in TE Connectivity Ltd. (NYSE:TEL)

Ashton Thomas Private Wealth LLC lifted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 9.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,602 shares of the electronics maker’s stock after purchasing an additional 1,312 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in TE Connectivity were worth $2,088,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. State Street Corp lifted its holdings in shares of TE Connectivity by 2.1% during the third quarter. State Street Corp now owns 12,852,607 shares of the electronics maker’s stock worth $1,940,615,000 after purchasing an additional 268,837 shares during the period. Geode Capital Management LLC increased its stake in TE Connectivity by 1.3% in the third quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker’s stock valued at $899,681,000 after purchasing an additional 75,658 shares in the last quarter. Bank of New York Mellon Corp increased its stake in TE Connectivity by 15.0% in the fourth quarter. Bank of New York Mellon Corp now owns 3,749,622 shares of the electronics maker’s stock valued at $536,083,000 after purchasing an additional 488,680 shares in the last quarter. EdgePoint Investment Group Inc. increased its position in shares of TE Connectivity by 26.0% during the third quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock worth $508,481,000 after acquiring an additional 694,917 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of TE Connectivity by 31.1% during the third quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock worth $445,603,000 after acquiring an additional 712,228 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Stock Performance

Shares of TEL stock opened at $150.90 on Friday. The stock has a market capitalization of $45.02 billion, a P/E ratio of 24.10, a PEG ratio of 2.11 and a beta of 1.32. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The firm’s 50 day moving average is $148.30 and its 200 day moving average is $148.77. TE Connectivity Ltd. has a 12 month low of $137.61 and a 12 month high of $159.98.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. The company had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. TE Connectivity’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.84 EPS. On average, sell-side analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TEL. Wells Fargo & Company boosted their target price on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. StockNews.com cut shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. Robert W. Baird boosted their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Finally, Truist Financial dropped their target price on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $167.00.

Insider Activity at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

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.