Robeco Institutional Asset Management B.V. Cuts Position in TE Connectivity Ltd. (NYSE:TEL)

Robeco Institutional Asset Management B.V. lowered its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 6.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 138,998 shares of the electronics maker's stock after selling 9,552 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in TE Connectivity were worth $19,873,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in TEL. State Street Corp grew its stake in shares of TE Connectivity by 2.1% in 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 during the last quarter. Geode Capital Management LLC grew its position in shares of 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. increased its stake in shares of 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 buying an additional 694,917 shares during the period. Franklin Resources Inc. raised 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 during the period. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the company's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $151.13, for a total transaction of $587,744.57. Following 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 sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.90% of the company's stock.

TE Connectivity Stock Down 1.2 %

TEL traded down $1.76 during mid-day trading on Friday, reaching $148.05. 1,352,632 shares of the stock were exchanged, compared to its average volume of 1,605,901. TE Connectivity Ltd. has a 1 year low of $137.61 and a 1 year high of $159.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The stock has a market capitalization of $44.17 billion, a PE ratio of 23.65, a price-to-earnings-growth ratio of 2.03 and a beta of 1.32. The company has a 50 day moving average price of $147.58 and a two-hundred day moving average price of $148.63.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the prior year, the firm posted $1.84 EPS. The firm's quarterly revenue was up .1% compared to the same quarter last year. As a group, research analysts anticipate that TE Connectivity Ltd. will post 7.96 EPS for the current year.

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. 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. Bank of America boosted their price target on TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a research note 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 research report on Thursday, January 23rd. Wells Fargo & Company boosted their target price on shares of TE Connectivity from $151.00 to $155.00 and gave the company an "equal weight" rating in a research report on Thursday, January 23rd. Finally, StockNews.com upgraded shares of TE Connectivity from a "buy" rating to a "strong-buy" rating in a report on Wednesday, December 18th. Seven analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average 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.