Core Alternative Capital Buys 2,143 Shares of TE Connectivity Ltd. (NYSE:TEL)

Core Alternative Capital boosted its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 8.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,799 shares of the electronics maker's stock after acquiring an additional 2,143 shares during the period. Core Alternative Capital's holdings in TE Connectivity were worth $3,974,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in TEL. Optas LLC increased its position in shares of TE Connectivity by 4.2% during the third quarter. Optas LLC now owns 1,778 shares of the electronics maker's stock valued at $268,000 after purchasing an additional 71 shares during the period. OLD National Bancorp IN boosted its stake in TE Connectivity by 3.6% during the third quarter. OLD National Bancorp IN now owns 2,478 shares of the electronics maker's stock worth $374,000 after buying an additional 85 shares in the last quarter. Metis Global Partners LLC increased its holdings in TE Connectivity by 1.0% in the 3rd quarter. Metis Global Partners LLC now owns 9,771 shares of the electronics maker's stock valued at $1,475,000 after buying an additional 96 shares during the period. Insigneo Advisory Services LLC raised its stake in shares of TE Connectivity by 2.4% in the 3rd quarter. Insigneo Advisory Services LLC now owns 4,530 shares of the electronics maker's stock valued at $684,000 after buying an additional 108 shares in the last quarter. Finally, Concurrent Investment Advisors LLC boosted its position in shares of TE Connectivity by 6.4% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 1,956 shares of the electronics maker's stock valued at $295,000 after acquiring an additional 117 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company's stock.

Insider Activity

In related 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 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 trade represents a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.90% of the company's stock.

TE Connectivity Price Performance

NYSE:TEL traded down $0.35 during mid-day trading on Friday, reaching $152.87. 1,753,715 shares of the company were exchanged, compared to its average volume of 1,658,521. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The stock has a market cap of $45.61 billion, a PE ratio of 24.42, a PEG ratio of 2.01 and a beta of 1.32. TE Connectivity Ltd. has a 12 month low of $137.61 and a 12 month high of $159.98. The company has a fifty day moving average of $146.78 and a 200 day moving average of $148.23.

TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating 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 business had revenue of $3.84 billion for the quarter, compared to analysts' expectations of $3.92 billion. During the same period in the prior year, the firm earned $1.84 earnings per share. TE Connectivity's revenue was up .1% compared to the same quarter last year. On average, 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 repurchase plan on Wednesday, October 30th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts recently issued reports on TEL shares. Bank of America increased their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, January 23rd. Hsbc Global Res upgraded TE Connectivity from a "moderate sell" rating to a "hold" rating in a research report on Thursday, January 23rd. Robert W. Baird upped their price target on TE Connectivity from $162.00 to $168.00 and gave the company an "outperform" rating in a research report on Thursday, January 23rd. HSBC raised TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 price objective for the company in a report on Thursday, January 23rd. Finally, Truist Financial lowered their target price 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. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $167.00.

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.