AGF Management Ltd. Invests $852,000 in TE Connectivity Ltd. (NYSE:TEL)

AGF Management Ltd. acquired a new position in shares of TE Connectivity Ltd. (NYSE:TEL) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,080 shares of the electronics maker’s stock, valued at approximately $852,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Cibc World Market Inc. raised its holdings in TE Connectivity by 63.8% during the first quarter. Cibc World Market Inc. now owns 11,366 shares of the electronics maker’s stock worth $1,489,000 after acquiring an additional 4,427 shares in the last quarter. Cetera Investment Advisers raised its holdings in TE Connectivity by 16.2% during the first quarter. Cetera Investment Advisers now owns 25,817 shares of the electronics maker’s stock worth $3,382,000 after acquiring an additional 3,598 shares in the last quarter. Dakota Wealth Management raised its holdings in TE Connectivity by 23.0% during the first quarter. Dakota Wealth Management now owns 4,259 shares of the electronics maker’s stock worth $558,000 after acquiring an additional 797 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in TE Connectivity by 108.9% during the first quarter. Sequoia Financial Advisors LLC now owns 3,336 shares of the electronics maker’s stock worth $437,000 after acquiring an additional 1,739 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in TE Connectivity by 1.1% during the first quarter. Vanguard Group Inc. now owns 27,621,186 shares of the electronics maker’s stock worth $3,617,824,000 after acquiring an additional 308,580 shares in the last quarter. 90.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. TD Cowen upgraded TE Connectivity from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $115.00 to $140.00 in a report on Friday, October 6th. Robert W. Baird upped their price objective on TE Connectivity from $149.00 to $153.00 in a research note on Thursday, July 27th. Truist Financial dropped their price objective on TE Connectivity from $147.00 to $135.00 and set a “hold” rating on the stock in a research note on Friday, November 3rd. Finally, StockNews.com initiated coverage on TE Connectivity in a research note on Thursday, October 5th. They issued a “buy” rating on the stock. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, TE Connectivity currently has a consensus rating of “Hold” and a consensus target price of $143.63.

TE Connectivity Price Performance

Shares of NYSE TEL opened at $131.46 on Friday. The firm has a market cap of $40.86 billion, a P/E ratio of 21.84, a price-to-earnings-growth ratio of 2.52 and a beta of 1.33. The company has a current ratio of 1.77, a quick ratio of 1.20 and a debt-to-equity ratio of 0.31. TE Connectivity Ltd. has a 1-year low of $111.94 and a 1-year high of $146.60. The business’s 50 day moving average is $123.72 and its 200-day moving average is $129.10.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, November 1st. The electronics maker reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.02. The company had revenue of $4 billion for the quarter, compared to analyst estimates of $4.01 billion. TE Connectivity had a return on equity of 18.88% and a net margin of 11.91%. The firm’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.88 earnings per share. Equities research analysts predict that TE Connectivity Ltd. will post 7.39 earnings per share for the current year.

TE Connectivity 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.