Gladstone Institutional Advisory LLC Purchases New Shares in TE Connectivity Ltd. (NYSE:TEL)

Gladstone Institutional Advisory LLC purchased a new stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,105 shares of the electronics maker's stock, valued at approximately $444,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Nomura Asset Management Co. Ltd. boosted its holdings in TE Connectivity by 4.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker's stock valued at $36,732,000 after purchasing an additional 9,670 shares during the period. Glenmede Trust Co. NA boosted its holdings in TE Connectivity by 13.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker's stock valued at $29,322,000 after purchasing an additional 23,755 shares during the period. Venturi Wealth Management LLC boosted its holdings in TE Connectivity by 1,632.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker's stock valued at $989,000 after purchasing an additional 6,169 shares during the period. Waverton Investment Management Ltd boosted its holdings in TE Connectivity by 8.2% in the 3rd quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker's stock valued at $213,089,000 after purchasing an additional 106,688 shares during the period. Finally, Meyer Handelman Co. boosted its holdings in TE Connectivity by 9.9% in the 4th quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker's stock valued at $14,531,000 after purchasing an additional 9,175 shares during the period. Institutional investors and hedge funds own 91.43% of the company's stock.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $151.13, for a total transaction of $587,744.57. Following the completion of the sale, the insider now directly owns 25,976 shares in the company, valued at $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 available through the SEC website. Corporate insiders own 0.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. StockNews.com downgraded shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 11th. Bank of America upped their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a "buy" rating in a report on Thursday, January 23rd. 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. Citigroup upped their price target on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. Finally, HSBC raised shares of TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 price target for the company in a report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, TE Connectivity has a consensus rating of "Hold" and a consensus price target of $167.00.

TE Connectivity Trading Up 1.0 %

NYSE TEL traded up $1.54 on Tuesday, hitting $154.31. The company's stock had a trading volume of 445,609 shares, compared to its average volume of 1,618,639. The company has a quick ratio of 1.10, a current ratio of 1.68 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 $146.82 and its 200 day moving average is $148.15. The firm has a market cap of $46.04 billion, a PE ratio of 24.62, a PEG ratio of 2.01 and a beta of 1.32.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (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 firm 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 EPS. The company's revenue was up .1% on a year-over-year basis. As a group, analysts predict that TE Connectivity Ltd. will post 7.95 earnings per share for the current fiscal year.

TE Connectivity declared that its board has authorized a share 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 repurchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's management 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.