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Manning & Napier Advisors LLC Has $4.55 Million Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

TE Connectivity logo with Computer and Technology background

Manning & Napier Advisors LLC trimmed its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 69.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,843 shares of the electronics maker's stock after selling 71,450 shares during the period. Manning & Napier Advisors LLC's holdings in TE Connectivity were worth $4,553,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in TEL. Pinnacle Bancorp Inc. acquired a new position in TE Connectivity in the 4th quarter valued at $26,000. Armstrong Advisory Group Inc. increased its position in shares of TE Connectivity by 208.3% in the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker's stock worth $34,000 after purchasing an additional 150 shares during the period. Wolff Wiese Magana LLC raised its stake in TE Connectivity by 2,450.0% in the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker's stock valued at $39,000 after purchasing an additional 245 shares in the last quarter. Hilltop National Bank bought a new stake in TE Connectivity during the fourth quarter worth about $55,000. Finally, Webster Bank N. A. acquired a new stake in TE Connectivity during the fourth quarter worth about $61,000. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Trading Down 1.2 %

Shares of TEL stock traded down $1.76 during mid-day trading on Friday, reaching $148.05. 1,352,632 shares of the stock traded hands, compared to its average volume of 1,605,901. The company has a market cap of $44.17 billion, a price-to-earnings ratio of 23.65, a price-to-earnings-growth ratio of 2.03 and a beta of 1.32. 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 stock's fifty day simple moving average is $147.58 and its two-hundred day simple moving average is $148.63. TE Connectivity Ltd. has a 1-year low of $137.61 and a 1-year high of $159.98.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $3.92 billion. During the same period last year, the company earned $1.84 EPS. The firm's revenue was up .1% compared to the same quarter last year. On average, research analysts anticipate that TE Connectivity Ltd. will post 7.96 EPS for the current fiscal year.

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

Insider Buying and Selling

In related news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $151.13, for a total value of $587,744.57. Following the transaction, the insider now directly owns 25,976 shares of the company's stock, valued at $3,925,752.88. The trade was a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on TEL shares. HSBC raised shares of 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. Citigroup upped their target price on TE Connectivity from $160.00 to $165.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 22nd. Hsbc Global Res upgraded TE Connectivity from a "moderate sell" rating to a "hold" rating in a research note on Thursday, January 23rd. Truist Financial dropped their price objective on TE Connectivity from $165.00 to $163.00 and set a "hold" rating for the company in a research report on Thursday, January 23rd. Finally, Robert W. Baird lifted their target price on TE Connectivity from $162.00 to $168.00 and gave the company an "outperform" rating in a research report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $167.00.

Read Our Latest Stock Analysis on TEL

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.

Further Reading

Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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