Sanctuary Advisors LLC reduced its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,992 shares of the electronics maker's stock after selling 1,757 shares during the quarter. Sanctuary Advisors LLC's holdings in TE Connectivity were worth $9,587,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. bought a new stake in shares of TE Connectivity during the fourth quarter valued at approximately $26,000. Golden State Wealth Management LLC bought a new stake in TE Connectivity in the 4th quarter valued at $44,000. Hilltop National Bank acquired a new position in shares of TE Connectivity in the 4th quarter valued at $55,000. Webster Bank N. A. acquired a new position in shares of TE Connectivity in the 4th quarter valued at $61,000. Finally, R Squared Ltd bought a new position in shares of TE Connectivity during the 4th quarter worth about $64,000. 91.43% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the 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 completion of the transaction, the insider now owns 25,976 shares in the company, valued at approximately $3,925,752.88. This represents a 13.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.90% of the stock is currently owned by company insiders.
TE Connectivity Trading Down 0.8 %
NYSE TEL traded down $1.23 during trading on Friday, reaching $154.55. 1,577,354 shares of the stock traded hands, compared to its average volume of 1,636,413. TE Connectivity Ltd. has a fifty-two week low of $137.61 and a fifty-two week high of $159.98. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The firm has a market cap of $46.11 billion, a price-to-earnings ratio of 24.69, a price-to-earnings-growth ratio of 2.12 and a beta of 1.32. The stock's 50-day moving average price is $147.11 and its 200 day moving average price is $148.32.
TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings data 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. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business had revenue of $3.84 billion for the quarter, compared to analysts' expectations of $3.92 billion. During the same quarter in the previous year, the business posted $1.84 EPS. TE Connectivity's revenue for the quarter was up .1% on a year-over-year basis. Analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current year.
TE Connectivity announced that its board has approved a stock buyback plan on Wednesday, October 30th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the electronics maker to buy up to 5.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on TEL shares. StockNews.com raised shares of TE Connectivity from a "buy" rating to a "strong-buy" rating in a research report on Wednesday. HSBC raised TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 target price for the company in a report on Thursday, January 23rd. Robert W. Baird boosted their price target on TE Connectivity from $162.00 to $168.00 and gave the company an "outperform" rating in a research note on Thursday, January 23rd. Citigroup increased their price objective on TE Connectivity from $160.00 to $165.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 22nd. Finally, Bank of America lifted their price objective on TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, TE Connectivity has an average rating of "Moderate Buy" and an average price target of $167.00.
Get Our Latest Stock Report on TE Connectivity
TE Connectivity Company 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.
Featured Stories
Before you consider TE Connectivity, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and TE Connectivity wasn't on the list.
While TE Connectivity currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
