TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Ninety One UK Ltd

Ninety One UK Ltd lowered its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 26.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 832,705 shares of the electronics maker's stock after selling 292,855 shares during the quarter. Ninety One UK Ltd owned 0.28% of TE Connectivity worth $119,052,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. raised its position in TE Connectivity by 4.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker's stock valued at $36,732,000 after buying an additional 9,670 shares during the last quarter. Glenmede Trust Co. NA grew its stake in shares of TE Connectivity by 13.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker's stock worth $29,322,000 after acquiring an additional 23,755 shares during the period. Venturi Wealth Management LLC raised its stake in TE Connectivity by 1,632.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker's stock valued at $989,000 after acquiring an additional 6,169 shares during the period. Waverton Investment Management Ltd lifted its stake in shares of TE Connectivity by 8.2% during the 3rd quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker's stock valued at $213,089,000 after buying an additional 106,688 shares in the last quarter. Finally, Meyer Handelman Co. boosted its holdings in TE Connectivity by 9.9% in the 4th quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker's stock worth $14,531,000 after buying an additional 9,175 shares during the period. 91.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the 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 sale, the insider now directly owns 25,976 shares of the company's stock, valued at $3,925,752.88. This represents a 13.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.90% of the stock is currently owned by company insiders.

TE Connectivity Trading Up 0.2 %

Shares of NYSE TEL traded up $0.26 during mid-day trading on Thursday, reaching $146.48. The company had a trading volume of 1,160,596 shares, compared to its average volume of 1,666,133. TE Connectivity Ltd. has a 52 week low of $137.61 and a 52 week high of $159.98. The stock has a market cap of $43.70 billion, a price-to-earnings ratio of 23.40, a price-to-earnings-growth ratio of 2.03 and a beta of 1.32. The business's 50-day moving average is $147.23 and its 200-day moving average is $148.43. 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 (NYSE:TEL - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) 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 analysts' expectations of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business's revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the firm earned $1.84 EPS. Equities analysts expect that TE Connectivity Ltd. will post 7.96 earnings per share for the current year.

TE Connectivity announced that its Board of Directors has approved a stock buyback program on Wednesday, October 30th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the electronics maker to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages have commented on TEL. Robert W. Baird raised their price target on shares of TE Connectivity from $162.00 to $168.00 and gave the company an "outperform" rating in a report on Thursday, January 23rd. StockNews.com raised shares of TE Connectivity from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, December 18th. HSBC upgraded 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. Truist Financial lowered their price objective 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, Citigroup upped their price target on TE Connectivity from $160.00 to $165.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 22nd. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, TE Connectivity 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.