Thomas Kean Jr purchases shares in Illumina and nVent Electric

In recent trading news, Thomas Kean Jr, representative of New Jersey’s 7th congressional district, has made significant purchases in Illumina, Inc. (NASDAQ:ILMN) and nVent Electric plc (NYSE:NVT). Illumina’s stock, which has seen a challenging period with a decline of over 50% in the past six months according to InvestingPro data, currently trades near its 52-week low of $68.70.

The transactions, which took place on April 1, 2025, and March 7, 2025, respectively, were reported on April 4, 2025. The purchases were made through the Kean Family Partnership, in which Kean Jr holds a 33% interest.

In the case of Illumina, Inc., a leading developer, manufacturer, and marketer of life science tools and integrated systems, Kean Jr purchased common stocks valued between $1,001 and $15,000.

Simultaneously, the congressman also invested in nVent Electric plc, an electrical connection and protection company. Similar to the Illumina investment, the shares were purchased in the range of $1,001 to $15,000 on two separate occasions.

These purchases mark new holdings for the Kean Family Partnership. The details of the transactions were disclosed as required by the STOCK Act, which mandates federal legislators to report their transactions to maintain transparency and prevent insider trading. While Illumina reported $4.37 billion in revenue last year, InvestingPro analysis shows the company operates with a moderate debt level and maintains a healthy gross profit margin of 68%.

The investments in both Illumina and nVent Electric reflect a diversification of the congressman’s portfolio, with a focus on the technology and electrical equipment sectors. The transactions, however, do not indicate any specific strategy or future trading intentions of Kean Jr.

Investors and market watchers often keep an eye on the trading activities of lawmakers, as these can sometimes provide insights into sectors that may be affected by upcoming legislation or policy changes. However, it’s important to note that these transactions do not necessarily predict market movements or guarantee success for individual investors.

As always, individual investors are encouraged to conduct their own research and consult with a financial advisor before making any investment decisions. While analysts have set price targets ranging from $75 to $190, InvestingPro subscribers can access 8 additional exclusive ProTips and a comprehensive Pro Research Report that provides deeper insights into Illumina’s financial health and growth prospects.

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