Cardinal Strategic Wealth Guidance Makes New Investment in TE Connectivity Ltd. (NYSE:TEL)

Cardinal Strategic Wealth Guidance purchased a new stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,670 shares of the electronics maker's stock, valued at approximately $239,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brookstone Capital Management boosted its stake in TE Connectivity by 13.5% in the third quarter. Brookstone Capital Management now owns 2,450 shares of the electronics maker's stock valued at $370,000 after buying an additional 292 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of TE Connectivity in the 3rd quarter valued at approximately $235,000. Armstrong Advisory Group Inc. grew its holdings in shares of TE Connectivity by 208.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker's stock valued at $34,000 after purchasing an additional 150 shares during the last quarter. Creative Planning increased its position in 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 in the last quarter. Finally, Swedbank AB lifted its stake in TE Connectivity by 1.0% in the 3rd quarter. Swedbank AB now owns 70,792 shares of the electronics maker's stock valued at $10,689,000 after purchasing an additional 684 shares during the last quarter. Institutional investors own 91.43% of the company's stock.

TE Connectivity Trading Down 0.6 %

NYSE:TEL traded down $0.86 on Friday, reaching $152.36. 999,461 shares of the stock traded hands, compared to its average volume of 1,632,156. 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 Ltd. has a 1-year low of $137.61 and a 1-year high of $159.98. The company's 50 day moving average is $146.78 and its 200-day moving average is $148.23. The firm has a market capitalization of $45.46 billion, a price-to-earnings ratio of 24.33, a price-to-earnings-growth ratio of 2.01 and a beta of 1.32.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share 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 company had revenue of $3.84 billion during the quarter, compared to analysts' expectations of $3.92 billion. During the same period in the prior year, the company posted $1.84 earnings per share. TE Connectivity's revenue for the quarter was up .1% compared to the same quarter last year. Equities research analysts anticipate that TE Connectivity Ltd. will post 7.95 EPS for the current fiscal year.

TE Connectivity declared that its Board of Directors has initiated a stock buyback 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 purchase up to 5.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TEL. Wells Fargo & Company upped their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an "equal weight" rating in a report on Thursday, January 23rd. Robert W. Baird upped their target price on TE Connectivity from $162.00 to $168.00 and gave the stock an "outperform" rating in a report on Thursday, January 23rd. Hsbc Global Res raised TE Connectivity from a "moderate sell" rating to a "hold" rating in a research note on Thursday, January 23rd. StockNews.com cut TE Connectivity from a "strong-buy" rating to a "buy" rating in a report on Tuesday. Finally, Truist Financial dropped their price objective 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 investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, TE Connectivity currently has a consensus rating of "Hold" and a consensus price target of $167.00.

Insiders Place Their Bets

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

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.