Madison Investors Fund Sold TE Connectivity Ltd. (TEL) as the Shares Appreciated

Madison Investments, an investment advisor, released its “Madison Investors Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, Fund (class Y) declined -1.3% compared to a -3.3% decline for the S&P 500 Index benchmark.  In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Madison Investors Fund highlighted stocks like TE Connectivity Ltd. (NYSE:TEL) in the third quarter 2023 investor letter. Based in Schaffhausen, Switzerland, TE Connectivity Ltd. (NYSE:TEL) is a connectivity and sensor solutions manufacturer. On October 27, 2023, TE Connectivity Ltd. (NYSE:TEL) stock closed at $115.51 per share. One-month return of TE Connectivity Ltd. (NYSE:TEL) was -6.26%, and its shares lost 5.50% of their value over the last 52 weeks. TE Connectivity Ltd. (NYSE:TEL) has a market capitalization of $36.263 billion.

Madison Investors Fund made the following comment about TE Connectivity Ltd. (NYSE:TEL) in its Q3 2023 investor letter:

“During the quarter we sold our stakes in TE Connectivity Ltd. (NYSE:TEL), Adobe, and Jacobs Solutions. TE Connectivity is a leader in electronic connectors. We like the company’s strong position in sensors and connectors. However, the shares appreciated to our appraisal of fair value and were sold to fund more attractively valued opportunities.”

A technician assembling a sensor on an automated assembly line.

TE Connectivity Ltd. (NYSE:TEL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 37 hedge fund portfolios held TE Connectivity Ltd. (NYSE:TEL) at the end of second quarter which was 29 in the previous quarter.

We discussed TE Connectivity Ltd. (NYSE:TEL) in another article and shared the list of technology stocks to buy that are cheap to ignore. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

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