Is it a Good Move to Sell Your TE Connectivity (TEL) Position?

Carillon Tower Advisers, an investment management firm, published its “Carillon Eagle Growth & Income Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. The Carillon Family of Funds spans a range of investment objectives and asset classes designed for long-term investors.  Along with the spike in oil prices, energy stocks performed best during the quarter, followed by more defensive and countercyclical sectors like utilities and consumer staples. The fund continues to see a somewhat balanced outlook for equity market returns. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Carillon Eagle Growth & Income Fund mentioned TE Connectivity Ltd. (NYSE:TEL) and explained its insights for the company. Founded in 2000, TE Connectivity Ltd. (NYSE:TEL) is a Schaffhausen, Switzerland-based consumer electronics company with a $36.7 billion market capitalization. TE Connectivity Ltd. (NYSE:TEL) delivered a -31.20% return since the beginning of the year, while its 12-month returns are down by -19.72%. The stock closed at $111.00 per share on July 01, 2022.

Here is what Carillon Eagle Growth & Income Fund has to say about TE Connectivity Ltd. (NYSE:TEL) in its Q1 2022 investor letter:

TE Connectivity (NYSE:TEL) shares weakened on the back of global auto production issues due to the war in Ukraine. Further, fears are rising that a recession in Europe could hinder demand for autos and undermine the company’s largest end-market.”

Our calculations show that TE Connectivity Ltd. (NYSE:TEL) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. TE Connectivity Ltd. (NYSE:TEL) was in 38 hedge fund portfolios at the end of the first quarter of 2022, compared to 41 funds in the previous quarter. TE Connectivity Ltd. (NYSE:TEL) delivered a -15.79% return in the past 3 months.

In May 2022, we also shared another hedge fund’s views on TE Connectivity Ltd. (NYSE:TEL) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

Disclosure: None. This article is originally published at Insider Monkey.