Empirical Financial Services LLC d.b.a. Empirical Wealth Management Makes New Investment in TE Connectivity Ltd. (NYSE:TEL)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,472 shares of the electronics maker's stock, valued at approximately $353,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. State Street Corp lifted its position in shares of TE Connectivity by 2.1% during the third quarter. State Street Corp now owns 12,852,607 shares of the electronics maker's stock worth $1,940,615,000 after purchasing an additional 268,837 shares in the last quarter. Geode Capital Management LLC boosted its position in TE Connectivity by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker's stock valued at $899,681,000 after buying an additional 75,658 shares during the last quarter. EdgePoint Investment Group Inc. grew its stake in shares of TE Connectivity by 26.0% during the third quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker's stock valued at $508,481,000 after acquiring an additional 694,917 shares in the last quarter. Franklin Resources Inc. increased its position in shares of TE Connectivity by 31.1% during the third quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker's stock worth $445,603,000 after acquiring an additional 712,228 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of TE Connectivity by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,762,099 shares of the electronics maker's stock worth $266,059,000 after acquiring an additional 9,864 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company's stock.

Wall Street Analyst Weigh In

TEL has been the topic of several analyst reports. Hsbc Global Res upgraded TE Connectivity from a "moderate sell" rating to a "hold" rating in a report on Thursday, January 23rd. Robert W. Baird upped their price target 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. 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 report on Thursday, January 23rd. 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. Finally, Truist Financial lowered their price objective on TE Connectivity from $165.00 to $163.00 and set a "hold" rating for the company in a report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, TE Connectivity currently has an average rating of "Moderate Buy" and a consensus target price of $167.00.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the business's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $151.13, for a total value of $587,744.57. Following the sale, the insider now owns 25,976 shares of the company's stock, valued at approximately $3,925,752.88. The trade was 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. 0.86% of the stock is owned by company insiders.

TE Connectivity Stock Performance

NYSE TEL traded up $1.31 during trading hours on Thursday, hitting $149.02. The company had a trading volume of 394,981 shares, compared to its average volume of 1,707,996. TE Connectivity Ltd. has a fifty-two week low of $137.61 and a fifty-two week high of $159.98. The firm has a market cap of $44.48 billion, a P/E ratio of 23.81, a price-to-earnings-growth ratio of 2.12 and a beta of 1.32. The company has a quick ratio of 1.08, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The business has a fifty day simple moving average of $147.68 and a 200-day simple moving average of $148.75.

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. 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 during the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the business posted $1.84 EPS. TE Connectivity's revenue was up .1% on a year-over-year basis. Equities analysts predict that TE Connectivity Ltd. will post 8.1 EPS for the current year.

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