US Bancorp DE Has $12.63 Million Holdings in TE Connectivity Ltd. (NYSE:TEL)

US Bancorp DE lifted its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 15.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,323 shares of the electronics maker's stock after buying an additional 12,095 shares during the period. US Bancorp DE's holdings in TE Connectivity were worth $12,628,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Pinnacle Bancorp Inc. acquired a new position in TE Connectivity during the 4th quarter worth approximately $26,000. Golden State Wealth Management LLC acquired a new position in TE Connectivity during the fourth quarter worth $44,000. Hilltop National Bank bought a new position in TE Connectivity in the fourth quarter valued at $55,000. Deseret Mutual Benefit Administrators acquired a new stake in TE Connectivity in the 4th quarter valued at $57,000. Finally, Webster Bank N. A. acquired a new position in shares of TE Connectivity during the 4th quarter worth about $61,000. 91.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the completion of the sale, the insider now directly owns 25,976 shares in the company, valued at $3,812,497.52. This represents a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.90% of the company's stock.

TE Connectivity Price Performance

Shares of TEL traded down $2.65 during trading hours on Thursday, hitting $148.13. 52,117 shares of the company were exchanged, compared to its average volume of 1,606,683. The company has a market cap of $44.20 billion, a price-to-earnings ratio of 23.64, a P/E/G ratio of 2.11 and a beta of 1.32. The firm's fifty day moving average is $148.17 and its 200 day moving average is $148.78. 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.

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. On average, equities analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on TEL. Hsbc Global Res raised TE Connectivity from a "moderate sell" rating to a "hold" rating in a research report on Thursday, January 23rd. Wells Fargo & Company increased their price objective on TE Connectivity from $151.00 to $155.00 and gave the company an "equal weight" rating in a report on Thursday, January 23rd. Truist Financial lowered their target price on shares of TE Connectivity from $165.00 to $163.00 and set a "hold" rating on the stock in a report on Thursday, January 23rd. Bank of America upped their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, January 23rd. Finally, Robert W. Baird lifted their price objective on shares of TE Connectivity from $162.00 to $168.00 and gave the company an "outperform" rating in a research report on Thursday, January 23rd. Seven 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 stock currently has an average rating of "Hold" and a consensus target price of $167.00.

About TE Connectivity

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.