TE Connectivity Ltd. (NYSE:TEL) Short Interest Update

TE Connectivity Ltd. (NYSE:TEL - Get Free Report) was the recipient of a significant decline in short interest during the month of January. As of January 15th, there was short interest totalling 3,280,000 shares, a decline of 14.8% from the December 31st total of 3,850,000 shares. Currently, 1.1% of the shares of the company are short sold. Based on an average daily volume of 1,600,000 shares, the short-interest ratio is currently 2.1 days.

Insider Buying and Selling at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $151.13, for a total transaction 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. The trade was a 13.02 % decrease in their position. The sale 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.

Institutional Trading of TE Connectivity

Several large investors have recently bought and sold shares of TEL. State Street Corp lifted its holdings 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 acquiring an additional 268,837 shares during the last quarter. Geode Capital Management LLC increased its position in TE Connectivity by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker's stock worth $899,681,000 after purchasing an additional 75,658 shares in the last quarter. EdgePoint Investment Group Inc. lifted its stake in TE Connectivity by 26.0% in the 3rd 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. Franklin Resources Inc. boosted 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 buying an additional 712,228 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of TE Connectivity by 0.6% during 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 buying an additional 9,864 shares during the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Price Performance

TEL stock traded down $1.76 during mid-day trading on Friday, hitting $148.05. The stock had a trading volume of 1,352,632 shares, compared to its average volume of 1,605,901. The firm has a fifty day simple moving average of $147.58 and a 200 day simple moving average of $148.63. TE Connectivity has a 52 week low of $137.61 and a 52 week high of $159.98. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $44.17 billion, a P/E ratio of 23.65, a P/E/G ratio of 2.03 and a beta of 1.32.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating the consensus estimate 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 previous year, the business earned $1.84 earnings per share. The company's revenue was up .1% on a year-over-year basis. As a group, research analysts forecast that TE Connectivity will post 7.96 EPS for the current year.

TE Connectivity announced that its Board of Directors has authorized a stock repurchase program on Wednesday, October 30th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the electronics maker to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Citigroup boosted their price objective on TE Connectivity from $160.00 to $165.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. StockNews.com upgraded TE Connectivity from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, December 18th. Truist Financial lowered their price objective on TE Connectivity from $165.00 to $163.00 and set a "hold" rating on the stock in a research report on Thursday, January 23rd. HSBC raised shares of 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. Finally, Hsbc Global Res raised shares of TE Connectivity from a "moderate sell" rating to a "hold" rating in a research report on Thursday, January 23rd. Seven investment 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. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $167.00.

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.