Smartleaf Asset Management LLC Purchases New Stake in TE Connectivity Ltd. (NYSE:TEL)

Smartleaf Asset Management LLC bought a new position in TE Connectivity Ltd. (NYSE:TEL - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 3,408 shares of the electronics maker's stock, valued at approximately $487,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of TEL. Pinnacle Bancorp Inc. purchased a new position in TE Connectivity during the 4th quarter valued at $26,000. Golden State Wealth Management LLC purchased a new position in TE Connectivity during the 4th quarter valued at $44,000. Hilltop National Bank purchased a new position in TE Connectivity during the 4th quarter valued at $55,000. Deseret Mutual Benefit Administrators purchased a new position in TE Connectivity during the 4th quarter valued at $57,000. Finally, Webster Bank N. A. purchased a new position in TE Connectivity during the 4th quarter valued at $61,000. Hedge funds and other institutional investors own 91.43% of the company's stock.

Insider Transactions 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 value of $587,744.57. Following the sale, the insider now 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 Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TEL. Robert W. Baird boosted their price objective on TE Connectivity from $162.00 to $168.00 and gave the company an "outperform" rating in a report on Thursday, January 23rd. Hsbc Global Res raised TE Connectivity from a "moderate sell" rating to a "hold" rating in a research report on Thursday, January 23rd. Wells Fargo & Company lifted their target price on TE Connectivity from $151.00 to $155.00 and gave the company an "equal weight" rating in a research report on Thursday, January 23rd. Citigroup lifted 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, Bank of America lifted their target price on TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, TE Connectivity presently has a consensus rating of "Hold" and a consensus price target of $167.00.

TE Connectivity Stock Down 1.8 %

Shares of TEL traded down $2.65 during trading hours on Thursday, hitting $148.13. The company had a trading volume of 52,117 shares, compared to its average volume of 1,606,683. The company has a market capitalization of $44.20 billion, a PE ratio of 23.64, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a one year low of $137.61 and a one year high of $159.98. The company's fifty day moving average price is $148.17 and its two-hundred day moving average price is $148.78.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.06. The business had revenue of $3.84 billion for 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 company's quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.84 EPS. As a group, equities analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Company 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.