Flputnam Investment Management Co. increased its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 11.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,285 shares of the electronics maker's stock after purchasing an additional 3,608 shares during the period. Flputnam Investment Management Co.'s holdings in TE Connectivity were worth $4,902,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Pinnacle Bancorp Inc. purchased a new stake in shares of TE Connectivity in the fourth quarter valued at $26,000. Golden State Wealth Management LLC purchased a new position in TE Connectivity in the 4th quarter valued at about $44,000. Hilltop National Bank acquired a new stake in shares of TE Connectivity during the 4th quarter worth about $55,000. Deseret Mutual Benefit Administrators purchased a new stake in shares of TE Connectivity during the fourth quarter worth about $57,000. Finally, Webster Bank N. A. acquired a new position in shares of TE Connectivity in the fourth quarter valued at approximately $61,000. Hedge funds and other institutional investors own 91.43% of the company's stock.
Insider Transactions at TE Connectivity
In related news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity 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 sale, the insider now owns 25,976 shares of the company's stock, valued at $3,925,752.88. The trade was a 13.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.90% of the company's stock.
Analysts Set New Price Targets
TEL has been the subject of several recent analyst reports. Robert W. Baird lifted their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an "outperform" rating in a research note on Thursday, January 23rd. HSBC upgraded 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. StockNews.com lowered shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a report on Friday, February 28th. Truist Financial lowered their target price 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. Finally, Hsbc Global Res raised shares of TE Connectivity from a "moderate sell" rating to a "hold" rating in a research note 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, the company has a consensus rating of "Hold" and an average target price of $167.00.
Read Our Latest Stock Report on TE Connectivity
TE Connectivity Stock Up 2.0 %
TE Connectivity stock traded up $2.91 during trading on Wednesday, reaching $150.95. 1,289,305 shares of the company's stock were exchanged, compared to its average volume of 1,643,778. TE Connectivity Ltd. has a 52-week low of $137.61 and a 52-week high of $159.98. The firm has a market cap of $45.03 billion, a price-to-earnings ratio of 24.11, a PEG ratio of 2.11 and a beta of 1.32. 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 company's 50-day moving average is $148.17 and its two-hundred day moving average is $148.78.
TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.89 by $0.06. The business had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The company's revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.84 earnings per share. On average, analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.
TE Connectivity Profile
(
Free Report)
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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