C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Takes Position in TE Connectivity Ltd. (NYSE:TEL)

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

Other hedge funds have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC acquired a new stake in shares of TE Connectivity during the 3rd quarter worth about $235,000. Creative Planning boosted its stake in shares of TE Connectivity by 3.0% during the 3rd quarter. Creative Planning now owns 42,019 shares of the electronics maker's stock worth $6,345,000 after purchasing an additional 1,237 shares during the last quarter. Swedbank AB boosted its stake in shares of TE Connectivity by 1.0% during the 3rd quarter. Swedbank AB now owns 70,792 shares of the electronics maker's stock worth $10,689,000 after purchasing an additional 684 shares during the last quarter. SeaCrest Wealth Management LLC boosted its stake in shares of TE Connectivity by 5.7% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 3,343 shares of the electronics maker's stock worth $505,000 after purchasing an additional 180 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in shares of TE Connectivity by 8.4% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 21,459 shares of the electronics maker's stock worth $3,240,000 after purchasing an additional 1,671 shares during the last quarter. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Citigroup raised their price target on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 22nd. Hsbc Global Res raised shares of TE Connectivity from a "moderate sell" rating to a "hold" rating in a research report on Thursday, January 23rd. StockNews.com lowered shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 11th. Robert W. Baird lifted their price target on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an "outperform" rating in a research note on Thursday, January 23rd. Finally, Truist Financial reduced their price target on shares of TE Connectivity from $165.00 to $163.00 and set a "hold" rating for the company in a report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, TE Connectivity presently has an average rating of "Hold" and an average target price of $167.00.

Insiders Place Their Bets

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the company's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $151.13, for a total value of $587,744.57. Following the transaction, the insider now owns 25,976 shares in the company, valued at $3,925,752.88. This represents a 13.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.90% of the stock is owned by company insiders.

TE Connectivity Price Performance

TEL stock traded down $0.35 during trading on Friday, hitting $152.87. The company had a trading volume of 1,753,715 shares, compared to its average volume of 1,671,565. The firm has a market capitalization of $45.61 billion, a price-to-earnings ratio of 24.42, a P/E/G ratio of 2.01 and a beta of 1.32. The business has a 50 day moving average of $146.79 and a 200 day moving average of $148.18. TE Connectivity Ltd. has a fifty-two week low of $137.61 and a fifty-two week high of $159.98. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26.

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. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm had revenue of $3.84 billion for the quarter, compared to analysts' expectations of $3.92 billion. During the same period in the previous year, the business earned $1.84 earnings per share. TE Connectivity's revenue for the quarter was up .1% compared to the same quarter last year. As a group, research analysts predict that TE Connectivity Ltd. will post 7.95 earnings per share for the current year.

TE Connectivity announced that its Board of Directors has approved a stock buyback plan on Wednesday, October 30th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is undervalued.

About TE Connectivity

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.