Ferguson Wellman Capital Management Inc. Has $650,000 Position in TE Connectivity Ltd. (NYSE:TEL)

Ferguson Wellman Capital Management Inc. cut its position in TE Connectivity Ltd. (NYSE:TEL) by 3.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,544 shares of the electronics maker’s stock after selling 175 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in TE Connectivity were worth $650,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in TEL. Pinnacle Bancorp Inc. acquired a new position in shares of TE Connectivity in the 4th quarter valued at approximately $26,000. Armstrong Advisory Group Inc. grew its holdings in shares of TE Connectivity by 208.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 150 shares during the last quarter. Wolff Wiese Magana LLC grew its holdings in shares of TE Connectivity by 2,450.0% during the 3rd 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 during the last quarter. Golden State Wealth Management LLC bought a new stake in shares of TE Connectivity during the 4th quarter valued at approximately $44,000. Finally, Hilltop National Bank bought a new stake in shares of TE Connectivity during the 4th quarter valued at approximately $55,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

TE Connectivity Trading Up 1.9 %

NYSE:TEL opened at $149.71 on Tuesday. The firm’s fifty day moving average is $147.05 and its 200-day moving average is $148.29. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. TE Connectivity Ltd. has a 52 week low of $137.61 and a 52 week high of $159.98. The firm has a market cap of $44.66 billion, a P/E ratio of 23.91, a P/E/G ratio of 2.01 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the prior year, the firm posted $1.84 EPS. The company’s quarterly revenue was up .1% on a year-over-year basis. Equities analysts expect that TE Connectivity Ltd. will post 7.95 earnings per share for the current year.

TE Connectivity declared that its board has initiated a share buyback plan on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the electronics maker to buy up to 5.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $151.13, for a total value of $587,744.57. Following the sale, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,925,752.88. This represents a 13.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on TEL shares. HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target on the stock in a report on Thursday, January 23rd. Wells Fargo & Company lifted their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Truist Financial decreased their price target 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. Finally, Robert W. Baird boosted 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 assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, TE Connectivity has a consensus rating of “Moderate Buy” and an average target price of $167.00.

TE Connectivity 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.