Asset Management One Co. Ltd. lessened its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 16.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 121,819 shares of the electronics maker's stock after selling 23,203 shares during the quarter. Asset Management One Co. Ltd.'s holdings in TE Connectivity were worth $17,661,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in TEL. Pinnacle Bancorp Inc. acquired a new stake in shares of TE Connectivity in the fourth quarter worth $26,000. Golden State Wealth Management LLC bought a new stake in TE Connectivity during the 4th quarter valued at approximately $44,000. Hilltop National Bank acquired a new stake in TE Connectivity in the 4th quarter valued at approximately $55,000. Webster Bank N. A. bought a new position in TE Connectivity in the 4th quarter worth approximately $61,000. Finally, R Squared Ltd bought a new stake in shares of TE Connectivity in the fourth quarter valued at approximately $64,000. 91.43% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on TEL shares. Hsbc Global Res upgraded shares of TE Connectivity from a "moderate sell" rating to a "hold" rating in a research note on Thursday, January 23rd. HSBC raised shares of TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 price objective for the company in a research report on Thursday, January 23rd. Truist Financial lowered their price target on TE Connectivity from $165.00 to $163.00 and set a "hold" rating on the stock in a research note on Thursday, January 23rd. Wells Fargo & Company raised their price objective on TE Connectivity from $151.00 to $155.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 23rd. Finally, Robert W. Baird boosted their price objective on TE Connectivity from $162.00 to $168.00 and gave the company an "outperform" rating in a research report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, TE Connectivity presently has a consensus rating of "Moderate Buy" and an average price target of $167.00.
Check Out Our Latest Stock Report on TE Connectivity
Insiders Place Their Bets
In other news, insider Shadrak W. Kroeger sold 3,889 shares of the firm's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $151.13, for a total transaction of $587,744.57. Following the sale, the insider now owns 25,976 shares of the company's stock, valued at $3,925,752.88. This trade represents a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.90% of the company's stock.
TE Connectivity Price Performance
TE Connectivity stock traded up $1.68 on Wednesday, reaching $156.10. The company's stock had a trading volume of 1,523,101 shares, compared to its average volume of 1,641,456. The business's fifty day moving average price is $146.90 and its 200 day moving average price is $148.21. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The company has a market cap of $46.57 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 2.07 and a beta of 1.32. TE Connectivity Ltd. has a twelve month low of $137.61 and a twelve month high of $159.98.
TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping the consensus estimate of $1.89 by $0.06. The company had revenue of $3.84 billion during the quarter, compared to analysts' expectations of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. TE Connectivity's revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.84 EPS. Equities analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.
TE Connectivity announced that its Board of Directors has approved a stock repurchase program on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the electronics maker to repurchase up to 5.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its stock is undervalued.
TE Connectivity Profile
(
Free Report)
TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.
Recommended Stories
Before you consider TE Connectivity, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and TE Connectivity wasn't on the list.
While TE Connectivity currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
