WASHINGTON TRUST Co Has $6.71 Million Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

WASHINGTON TRUST Co lifted its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 4,785.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,902 shares of the electronics maker's stock after acquiring an additional 45,942 shares during the period. WASHINGTON TRUST Co's holdings in TE Connectivity were worth $6,706,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Exchange Traded Concepts LLC bought a new position in shares of TE Connectivity during the 3rd quarter worth about $235,000. Creative Planning grew its position in TE Connectivity by 3.0% during the third quarter. Creative Planning now owns 42,019 shares of the electronics maker's stock worth $6,345,000 after buying an additional 1,237 shares in the last quarter. Swedbank AB increased its stake in TE Connectivity by 1.0% during the third quarter. Swedbank AB now owns 70,792 shares of the electronics maker's stock valued at $10,689,000 after acquiring an additional 684 shares during the period. SeaCrest Wealth Management LLC raised its holdings in TE Connectivity by 5.7% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 3,343 shares of the electronics maker's stock valued at $505,000 after acquiring an additional 180 shares in the last quarter. Finally, Wolff Wiese Magana LLC lifted its position in shares of TE Connectivity by 2,450.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker's stock worth $39,000 after acquiring an additional 245 shares during the period. Institutional investors own 91.43% of the company's stock.

Insider Buying and Selling

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the business'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 of the company's stock, valued at approximately $3,925,752.88. The trade was a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.90% of the stock is owned by corporate insiders.

TE Connectivity Price Performance

Shares of NYSE:TEL traded up $1.68 during trading on Wednesday, reaching $156.10. The stock had a trading volume of 1,523,818 shares, compared to its average volume of 1,641,479. The stock has a market capitalization of $46.57 billion, a PE ratio of 24.94, a P/E/G ratio of 2.07 and a beta of 1.32. TE Connectivity Ltd. has a 52 week low of $137.61 and a 52 week high of $159.98. The business's 50-day moving average price is $146.90 and its 200 day moving average price is $148.21. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping analysts' consensus estimates of $1.89 by $0.06. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates 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 was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.84 earnings per share. As a group, equities analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity declared that its board has authorized a stock repurchase program on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the electronics maker to buy up to 5.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of 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 company a "neutral" rating in a research report on Wednesday, January 22nd. Hsbc Global Res raised shares of TE Connectivity from a "moderate sell" rating to a "hold" rating in a report on Thursday, January 23rd. Wells Fargo & Company raised their price objective on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an "equal weight" rating in a report on Thursday, January 23rd. StockNews.com upgraded shares of TE Connectivity from a "buy" rating to a "strong-buy" rating in a research report on Wednesday. Finally, Robert W. Baird increased their price target on shares of TE Connectivity from $162.00 to $168.00 and gave the stock 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" 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.