C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Invests $1.96 Million in TE Connectivity Ltd. (NYSE:TEL)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in TE Connectivity Ltd. (NYSE:TEL - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 13,685 shares of the electronics maker's stock, valued at approximately $1,957,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TEL. Pinnacle Bancorp Inc. acquired a new position in shares of TE Connectivity in the 4th quarter valued at $26,000. Golden State Wealth Management LLC acquired a new position in shares of TE Connectivity in the 4th quarter valued at $44,000. Hilltop National Bank acquired a new position in shares of TE Connectivity in the 4th quarter valued at $55,000. Webster Bank N. A. acquired a new position in shares of TE Connectivity in the 4th quarter valued at $61,000. Finally, R Squared Ltd acquired a new position in shares of TE Connectivity in the 4th quarter valued at $64,000. 91.43% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the company's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $151.13, for a total value of $587,744.57. Following the completion of the sale, the insider now directly owns 25,976 shares of the company's stock, valued at approximately $3,925,752.88. This represents a 13.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Truist Financial decreased their price target on shares of TE Connectivity from $165.00 to $163.00 and set a "hold" rating on the stock in a report on Thursday, January 23rd. Hsbc Global Res upgraded shares of TE Connectivity from a "moderate sell" rating to a "hold" rating in a report on Thursday, January 23rd. Bank of America lifted their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. Citigroup lifted their target price on shares of TE Connectivity from $160.00 to $165.00 and gave the company a "neutral" rating in a report on Wednesday, January 22nd. Finally, Robert W. Baird lifted their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the company an "outperform" rating in a report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $167.00.

TE Connectivity Stock Performance

TE Connectivity stock traded down $1.23 during midday trading on Friday, reaching $154.55. 1,577,354 shares of the stock traded hands, compared to its average volume of 1,636,413. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The firm has a fifty day moving average price of $147.11 and a two-hundred day moving average price of $148.32. The firm has a market cap of $46.11 billion, a price-to-earnings ratio of 24.69, a PEG ratio of 2.12 and a beta of 1.32. TE Connectivity Ltd. has a fifty-two week low of $137.61 and a fifty-two week high of $159.98.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.89 by $0.06. The firm had revenue of $3.84 billion during the quarter, compared to analyst estimates 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 period in the previous year, the business posted $1.84 EPS. On average, equities research analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity announced that its Board of Directors has authorized a share repurchase program on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the electronics maker to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

TE Connectivity Profile

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.