Venturi Wealth Management LLC Acquires 5,274 Shares of TE Connectivity Ltd. (NYSE:TEL)

Venturi Wealth Management LLC grew its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 80.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,821 shares of the electronics maker's stock after buying an additional 5,274 shares during the quarter. Venturi Wealth Management LLC's holdings in TE Connectivity were worth $1,690,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Pinnacle Bancorp Inc. purchased a new stake in TE Connectivity during the fourth quarter worth approximately $26,000. Golden State Wealth Management LLC purchased a new stake in TE Connectivity during the fourth quarter worth approximately $44,000. Hilltop National Bank purchased a new stake in TE Connectivity during the fourth quarter worth approximately $55,000. Webster Bank N. A. purchased a new stake in TE Connectivity during the fourth quarter worth approximately $61,000. Finally, Vestor Capital LLC purchased a new position in shares of TE Connectivity in the third quarter valued at $66,000. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the firm's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $151.13, for a total value of $587,744.57. Following the completion of the transaction, the insider now directly owns 25,976 shares in the company, valued at $3,925,752.88. This trade represents a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.90% of the company's stock.

Analysts Set New Price Targets

TEL has been the subject of several analyst reports. HSBC upgraded 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 note on Thursday, January 23rd. Wells Fargo & Company increased their price objective on shares of TE Connectivity from $151.00 to $155.00 and gave the company an "equal weight" rating in a research note on Thursday, January 23rd. Bank of America increased their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. StockNews.com raised shares of TE Connectivity from a "buy" rating to a "strong-buy" rating in a report on Wednesday. Finally, Robert W. Baird increased their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an "outperform" rating in a 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's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $167.00.

TE Connectivity Price Performance

TE Connectivity stock traded down $1.23 during trading hours on Friday, hitting $154.55. 1,577,354 shares of the company traded hands, compared to its average volume of 1,636,413. The firm has a market cap of $46.11 billion, a P/E ratio of 24.69, a P/E/G ratio of 2.12 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 firm's 50-day simple moving average is $147.11 and its two-hundred day simple moving average is $148.32. 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 released its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating the consensus estimate of $1.89 by $0.06. The firm had revenue of $3.84 billion for the quarter, compared to analysts' expectations of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. TE Connectivity's quarterly revenue was up .1% on a year-over-year basis. During the same quarter last year, the company earned $1.84 EPS. As a group, analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

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

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.