Madison Investment Advisors LLC Acquires New Shares in TE Connectivity Ltd. (NYSE:TEL)

Madison Investment Advisors LLC acquired a new stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 116,845 shares of the electronics maker's stock, valued at approximately $16,705,000.

Several other large investors have also bought and sold shares of the business. State Street Corp boosted its stake in TE Connectivity by 2.1% in the third quarter. State Street Corp now owns 12,852,607 shares of the electronics maker's stock valued at $1,940,615,000 after buying an additional 268,837 shares in the last quarter. Geode Capital Management LLC raised its position in TE Connectivity by 1.3% in the third 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 during the last quarter. Bank of New York Mellon Corp raised its position in TE Connectivity by 15.0% in the fourth quarter. Bank of New York Mellon Corp now owns 3,749,622 shares of the electronics maker's stock valued at $536,083,000 after purchasing an additional 488,680 shares during the last quarter. EdgePoint Investment Group Inc. raised its position in TE Connectivity by 26.0% in 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 purchasing an additional 694,917 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in TE Connectivity by 31.1% in the third quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker's stock valued at $445,603,000 after purchasing an additional 712,228 shares during the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Trading Down 1.0 %

Shares of TEL stock opened at $143.09 on Thursday. The company has a market cap of $42.69 billion, a P/E ratio of 22.86, a PEG ratio of 2.11 and a beta of 1.32. The stock has a 50 day simple moving average of $148.44 and a two-hundred day simple moving average of $148.62. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. TE Connectivity Ltd. has a fifty-two week low of $137.61 and a fifty-two week high of $159.98.

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TE Connectivity (NYSE:TEL - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping analysts' consensus estimates of $1.89 by $0.06. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm's revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the company posted $1.84 earnings per share. Research analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the firm's 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 completion of the sale, the insider now owns 25,976 shares of the company's stock, valued at approximately $3,925,752.88. This trade represents a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on TEL. Robert W. Baird increased their target price 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 upgraded TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 target price for the company 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. Citigroup increased their target price on TE Connectivity from $160.00 to $165.00 and gave the company a "neutral" rating in a research report on Wednesday, January 22nd. 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 research report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, TE Connectivity has a consensus rating of "Hold" and an average 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.

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