First National Bank & Trust Co. of Newtown Buys New Stake in TE Connectivity Ltd. (NYSE:TEL)

First National Bank & Trust Co. of Newtown bought a new stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 6,473 shares of the electronics maker's stock, valued at approximately $925,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TEL. State Street Corp lifted its stake in shares of TE Connectivity by 2.1% in the 3rd quarter. State Street Corp now owns 12,852,607 shares of the electronics maker's stock worth $1,940,615,000 after acquiring an additional 268,837 shares during the period. Geode Capital Management LLC boosted its stake in TE Connectivity by 1.3% during 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 purchasing an additional 75,658 shares in the last quarter. EdgePoint Investment Group Inc. increased its position in shares of TE Connectivity by 26.0% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker's stock valued at $508,481,000 after purchasing an additional 694,917 shares during the period. Franklin Resources Inc. raised its stake in shares of TE Connectivity by 31.1% in the 3rd quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker's stock worth $445,603,000 after buying an additional 712,228 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings 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 valued at $266,059,000 after buying an additional 9,864 shares during the period. 91.43% of the stock is owned by institutional investors.

TE Connectivity Stock Down 0.8 %

NYSE TEL traded down $1.23 during trading on Friday, reaching $154.55. 1,577,354 shares of the company's stock were exchanged, compared to its average volume of 1,636,413. The firm has a market capitalization of $46.11 billion, a PE ratio of 24.69, a P/E/G 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. 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 company's fifty day simple moving average is $147.11 and its 200-day simple moving average is $148.32.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 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 for the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the previous year, the firm posted $1.84 earnings per share. The firm's revenue was up .1% on a year-over-year basis. Sell-side analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity declared that its board has authorized a share repurchase plan on Wednesday, October 30th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the electronics maker to reacquire up to 5.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling

In related 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 value of $587,744.57. Following the transaction, the insider now owns 25,976 shares in the company, valued at approximately $3,925,752.88. This represents a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TEL shares. Truist Financial cut 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. Bank of America lifted 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. Citigroup increased their price objective on TE Connectivity from $160.00 to $165.00 and gave the company a "neutral" rating in a research report on Wednesday, January 22nd. StockNews.com upgraded TE Connectivity from a "buy" rating to a "strong-buy" rating in a report on Wednesday. Finally, Robert W. Baird upped their target price on TE Connectivity from $162.00 to $168.00 and gave the company an "outperform" rating in a report on Thursday, January 23rd. Seven 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's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $167.00.

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.