Wilmington Savings Fund Society FSB Trims Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Wilmington Savings Fund Society FSB trimmed its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 21.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,176 shares of the electronics maker’s stock after selling 3,608 shares during the period. Wilmington Savings Fund Society FSB’s holdings in TE Connectivity were worth $1,884,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Pinnacle Bancorp Inc. purchased a new position in TE Connectivity during the fourth quarter worth $26,000. Armstrong Advisory Group Inc. boosted its stake in shares of TE Connectivity by 208.3% during the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock valued at $34,000 after acquiring an additional 150 shares during the last quarter. Wolff Wiese Magana LLC increased its position in TE Connectivity by 2,450.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after purchasing an additional 245 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in TE Connectivity in the 4th quarter valued at about $44,000. Finally, Hilltop National Bank purchased a new position in TE Connectivity in the 4th quarter valued at about $55,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity stock in a transaction that occurred on 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 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

TE Connectivity Trading Up 0.3 %

Shares of TEL stock opened at $146.95 on Monday. TE Connectivity Ltd. has a fifty-two week low of $137.61 and a fifty-two week high of $159.98. The firm’s 50 day moving average price is $147.05 and its two-hundred day moving average price is $148.35. The stock has a market cap of $43.84 billion, a price-to-earnings ratio of 23.47, a price-to-earnings-growth ratio of 2.01 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.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. The firm had revenue of $3.84 billion during 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%. The firm’s revenue was up .1% on a year-over-year basis. During the same period in the prior year, the company earned $1.84 EPS. On average, analysts anticipate that TE Connectivity Ltd. will post 7.95 EPS for the current year.

TE Connectivity announced that its board has initiated a stock buyback program on Wednesday, October 30th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Truist Financial cut their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Bank of America boosted their price target on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. StockNews.com raised TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. Citigroup increased their target price on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Finally, Robert W. Baird lifted their price target on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Seven investment 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 data from MarketBeat.com, TE Connectivity presently has an average rating of “Moderate Buy” and an average target price of $167.00.

TE Connectivity Company 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.