Cidel Asset Management Inc. Invests $20.26 Million in TE Connectivity Ltd. $TEL

Key Points

• Cidel Asset Management initiated a $20.26 million position in TE Connectivity, purchasing 100,484 shares during the second quarter. Institutional investors and hedge funds collectively own 91.43% of the company.
• Analysts maintain a generally positive outlook, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $251.15.
• TE Connectivity exceeded quarterly expectations, reporting $2.94 in EPS and $5.16 billion in revenue. Revenue rose 13.8% year over year, while shares recently opened at $205.05.

Cidel Asset Management Inc. bought a new stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 100,484 shares of the electronics maker's stock, valued at approximately $20,259,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TEL. California State Teachers Retirement System boosted its stake in shares of TE Connectivity by 19,772.4% during the 2nd quarter. California State Teachers Retirement System now owns 92,477,499 shares of the electronics maker's stock worth $18,644,389,000 after buying an additional 92,012,142 shares during the last quarter. State Street Corp raised its holdings in TE Connectivity by 0.6% during the fourth quarter. State Street Corp now owns 13,105,219 shares of the electronics maker's stock worth $2,981,572,000 after acquiring an additional 76,292 shares in the last quarter. Wellington Management Group LLP boosted its position in TE Connectivity by 48.2% during the second quarter. Wellington Management Group LLP now owns 7,709,235 shares of the electronics maker's stock valued at $1,554,259,000 after purchasing an additional 2,507,569 shares during the last quarter. Geode Capital Management LLC boosted its position in TE Connectivity by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 6,284,933 shares of the electronics maker's stock valued at $1,425,669,000 after purchasing an additional 161,967 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in TE Connectivity by 27.5% in the second quarter. Bank of America Corp DE now owns 6,274,917 shares of the electronics maker's stock valued at $1,058,390,000 after purchasing an additional 1,352,152 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Citigroup dropped their price objective on TE Connectivity from $250.00 to $230.00 and set a "buy" rating on the stock in a research note on Monday, July 13th. Zacks Research downgraded shares of TE Connectivity from a "strong-buy" rating to a "hold" rating in a report on Monday, June 8th. Barclays upped their price target on shares of TE Connectivity from $297.00 to $300.00 and gave the stock an "overweight" rating in a research report on Monday, June 15th. UBS Group reiterated a "buy" rating and issued a $241.00 price target on shares of TE Connectivity in a research note on Thursday, July 23rd. Finally, Wall Street Zen upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating in a research note on Sunday, August 23rd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $251.15.

TE Connectivity Stock Performance

Shares of NYSE TEL opened at $205.05 on Wednesday. The company has a current ratio of 1.88, a quick ratio of 1.23 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $59.36 billion, a P/E ratio of 20.10, a P/E/G ratio of 1.40 and a beta of 1.16. TE Connectivity Ltd. has a 12 month low of $190.27 and a 12 month high of $252.56. The stock has a 50 day moving average of $205.88 and a 200-day moving average of $210.25.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The electronics maker reported $2.94 earnings per share for the quarter, beating analysts' consensus estimates of $2.85 by $0.09. TE Connectivity had a return on equity of 24.59% and a net margin of 15.61%.The business had revenue of $5.16 billion for the quarter, compared to analysts' expectations of $5.01 billion. During the same quarter in the prior year, the business earned $2.27 EPS. The firm's revenue for the quarter was up 13.8% on a year-over-year basis. TE Connectivity has set its Q4 2026 guidance at 3.050-3.050 EPS. As a group, equities research analysts predict that TE Connectivity Ltd. will post 11.48 EPS for the current year.

TE Connectivity Company Profile

TE Connectivity Ltd. NYSE: TEL designs and manufactures connectivity and sensor products used in transportation, industrial equipment, communications systems, data centers, aerospace and defense, medical technology, energy infrastructure, and consumer applications. Its products help transmit power, data and signals between components and systems.

The company's product portfolio includes connectors, terminals, relays, sensors, antennas, cable assemblies, circuit-protection devices, heat-shrink products and other components for electronic and electrical systems.

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