BlackRock Fund Advisors has recently announced that it has increased stake in TE Connectivity Ltd (NYSE:TEL) by 5.90%. After grabbing 11.3 million shares, the institutional investor is now in possession of 0.63 million shares of the Technology Company. The new investment brought the stake of investor firm to 3.63% having worth around $1.59 billion. Moreover, Geode Capital Management LLC increased its share by 81870.0 to have a control over 5.51 million shares.
TE Connectivity Ltd (TEL) concluded trading on Wednesday at a closing price of $143.63, with 3.96 million shares of worth about $568.52 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 1.72% during that period and On Wednesday, January 24 the price saw a gain of about 6.67%. Currently the company’s common shares owned by public are about 311.98M shares, out of which, 308.53M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 11 times over the past 12 months. They bought 97,392 shares in 4 of the transactions. In 7 selling transactions, insiders dumped 105,692 shares.
Vanguard Total Stock Market ETF, Dodge & Cox Stock Fund, and Vanguard 500 Index Fund are the top 3 mutual funds which are holding stakes in TE Connectivity Ltd Vanguard Total Stock Market ETF is currently holding 9.76 million shares of worth totaling $1.37 billion. The company recently came selling 82007.0 shares which brought its stake up to 3.14% of the company’s outstanding shares. Dodge & Cox Stock Fund bought 43600.0 shares, after which its hold over company’s outstanding shares expand to 2.63%, leaving 8.18 million shares with the mutual fund that have a worth of about $1.15 billion. Vanguard 500 Index Fund, after selling 7.59 million shares, have now control over 2.44% of the stake in the company. It holds 63571.0 shares of worth $1.07 billion.
However, the stock later moved at a day high price of 146.83, or with a gain of 6.67%. Stock saw a price change of 11.23% in past 5 days and over the past one month there was a price change of 2.68%. Year-to-date (YTD), TEL shares are showing a performance of 2.23% which increased to 15.12% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $115.00 but also hit the highest price of $146.60 during that period. The average intraday trading volume for TE Connectivity Ltd shares is 1.59 million. The stock is currently trading 6.38% above its 20-day simple moving average (SMA20), while that difference is up 7.31% for SMA50 and it goes to 10.57% higher than SMA200.
BlackRock Fund Advisors acquired 11.3 million shares of TE Connectivity Ltd having value of about $1.59 billion. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.63 million shares in the company valued at close to $90383486.4, or have control over 5.90% stake in the company. TE Connectivity Ltd (NYSE: TEL) currently have 311.98M outstanding shares and institutions hold larger chunk of about 94.34% of that. Holding of mutual funds in the company is about 33.25% while other institutional holders and individual stake holders have control over 61.35% and 0.55% of the stake respectively.
The stock has a current market capitalization of $44.44B and its 3Y-monthly beta is at 1.40. PE ratio of stock for trailing 12 months is 13.63, while it has posted earnings per share of $10.53 in the same period. Its PEG reads 1.24 and has Quick Ratio of 1.16 while making debt-to-equity ratio of 0.32. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for TEL, volatility over the week remained 1.80% while standing at 1.38% over the month.
Analysts are in expectations that TE Connectivity Ltd (TEL) stock would likely to be making an EPS of $1.71 in the current quarter, while forecast for next quarter EPS is $1.78 and it is $8.28 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.69 which is $1.78 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.53 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 11.20% while it is estimated to increase by 11.22% in next year. EPS is likely to grow at an annualized rate of 11.00% for next 5-years, compared to annual growth of -3.69% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Citigroup on January 05, 2024 offering a Neutral rating for the stock and assigned a target price of $146 to it.
