Buckley Wealth Management LLC, a renowned institutional investor, recently acquired a new stake in TE Connectivity Ltd. (NYSE:TEL) during the second quarter of this fiscal year. As reported in their latest filing with the Securities and Exchange Commission, Buckley Wealth Management purchased 1,733 shares of the electronics maker’s stock, with an estimated value of approximately $243,000.
TE Connectivity is a prominent player in the electronics industry, known for its cutting-edge products and solutions. The company’s commitment to innovation and customer satisfaction has propelled its success in the market. This recent investment by Buckley Wealth Management reflects their confidence in TE Connectivity’s potential for continued growth.
In a press release issued on July 26th, TE Connectivity released its quarterly earnings results for this fiscal year. The company reported an impressive earnings per share (EPS) of $1.77 for the quarter, surpassing analysts’ consensus estimates of $1.66 by $0.11. Despite a slight decline in revenue to $4 billion compared to the consensus estimate of $4.05 billion, TE Connectivity demonstrated strong financial performance.
TE Connectivity boasts a solid net margin of 12.63% and a remarkable return on equity of 19.55%. These figures exemplify the company’s ability to efficiently manage its resources and generate profitable returns for its shareholders. Although the quarterly revenue experienced a decrease of 2.4% compared to the same period last year, it is important to note that TE Connectivity had achieved exceptional earnings per share of $1.86 during that preceding year.
Equities research analysts have projected that TE Connectivity will post an EPS of 6.71 for this fiscal year as a whole – indicative of their positive outlook on the company’s prospects moving forward.
This recent development involving Buckley Wealth Management’s acquisition highlights growing interest among institutional investors in TE Connectivity Ltd.’s stock due to its strong financial performance and consistent track record in the industry. Investors continue to recognize the potential for growth and stability that TE Connectivity offers, making it an attractive option within the electronics sector.
As we approach the final quarter of this fiscal year, all eyes will be on TE Connectivity as investors eagerly await their next set of quarterly earnings results. With its unwavering commitment to innovation and customer-centric approach, TE Connectivity is well-positioned to maintain its success in the market and provide value for shareholders in the long run.
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TE Connectivity Receives Increased Interest from Hedge Funds and Institutional Investors
TE Connectivity Ltd. (TEL) has recently seen an increase in interest from hedge funds and institutional investors, as indicated by their buying and selling of shares in the company. New Hampshire Trust, for example, boosted its holdings of TE Connectivity by 2.6% during the second quarter, now owning 11,765 shares valued at $1,649,000. Similarly, Ferguson Wellman Capital Management Inc. increased its stake by 10.5%, resulting in ownership of 5,935 shares worth $832,000.
Castle Rock Wealth Management LLC also saw growth in its position in TE Connectivity during the second quarter. By acquiring an additional 298 shares of the electronics maker’s stock, Castle Rock now owns 6,154 shares valued at $858,000.
First Affirmative Financial Network entered into a new position with TE Connectivity during the second quarter worth $205,000. AE Wealth Management LLC also significantly increased its holdings by 40.9%, adding an extra 8,594 shares to reach a total of 29,604 shares valued at $4,149,000.
With these notable investments from various hedge funds and institutional investors, it is apparent that TE Connectivity has drawn attention within the market.
At present opening prices on Tuesday amounting to $126.96 per share and a market capitalization of $39.86 billion for TEL indicate that much intrigue surrounds the company’s performance.
TE Connectivity’s average P/E ratio stands at 19.59 while its PEG ratio is reported to be 2.68 with a beta value of 1.35 – all values hinting towards an intriguing investment avenue available within this sector.
The company’s fifty-day and two-hundred-day simple moving averages are reported to be $135.21 and $130.05 respectively.
Over the past year period ending September 19th , TEL reported a high trading price of $146.60 and a low trading price of $104.76 – showing a considerable variance in share value over a relatively short time span.
Alongside these financial indicators, the company also possesses strong liquidity ratios such as a quick ratio of 1.14 and current ratio of 1.80. Additionally, the debt-to-equity ratio is reported to be 0.34, indicating that the company has relatively low debt levels.
In recent news, Director Terrence R. Curtin sold a significant number of shares – specifically 70,721 shares on July 31st at an average price of $143.02 per share, bringing the total value of the transaction to $10,114,517.42. Following this sale, Director Curtin now holds 54,969 shares worth $7,861,666.38 in TE Connectivity.
A number of research firms have provided their views on TEL shares lately. Robert W. Baird raised its price target for TEL from $149.00 to $153.00 during July last year while Truist Financial increased its price objective from $127.00 to $147 in the same month providing a “hold” rating for the company’s stock.
Credit Suisse Group also increased its price target on TE Connectivity from $138 to $150 during June last year providing yet another indication that market analysts see potential in this particular investment opportunity.
Moreover, StockNews.com gave TE Connectivity a “buy” rating when it initiated coverage on August 17th last year, which further demonstrates positive sentiment towards investing in this company’s stock.
Overall consensus ratings suggest that TE Connectivity currently holds an average rating of “Hold” according to Bloomberg data analysis with an average target price set at approximately $144.33 per share – implying moderate growth potential for investors who may choose to invest in TE Connectivity Limited (TEL).
