V Square Quantitative Management LLC Has $1.52 Million Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

V Square Quantitative Management LLC grew its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 20.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,610 shares of the electronics maker’s stock after buying an additional 1,817 shares during the quarter. V Square Quantitative Management LLC’s holdings in TE Connectivity were worth $1,517,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TEL. Exchange Traded Concepts LLC acquired a new position in shares of TE Connectivity during the third quarter valued at about $235,000. Creative Planning grew its holdings in shares of TE Connectivity by 3.0% during the third quarter. Creative Planning now owns 42,019 shares of the electronics maker’s stock valued at $6,345,000 after buying an additional 1,237 shares during the last quarter. Swedbank AB grew its holdings in shares of 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 buying an additional 684 shares during the last quarter. SeaCrest Wealth Management LLC grew its holdings in shares of TE Connectivity by 5.7% during the third quarter. SeaCrest Wealth Management LLC now owns 3,343 shares of the electronics maker’s stock valued at $505,000 after buying an additional 180 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in TE Connectivity by 8.4% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 21,459 shares of the electronics maker’s stock worth $3,240,000 after purchasing an additional 1,671 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

TE Connectivity Stock Performance

NYSE TEL opened at $153.27 on Friday. The company’s 50 day moving average is $146.76 and its 200-day moving average is $148.19. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-month 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. The firm has a market cap of $45.73 billion, a P/E ratio of 24.48, a price-to-earnings-growth ratio of 2.01 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (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 company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the previous year, the firm posted $1.84 earnings per share. The company’s quarterly revenue was up .1% compared to the same quarter last year. Sell-side analysts predict that TE Connectivity Ltd. will post 7.95 earnings per share for the current year.

TE Connectivity announced that its board has authorized a share 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 reacquire up to 5.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TEL. Robert W. Baird boosted their price target 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. Truist Financial cut 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. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. StockNews.com cut shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Finally, HSBC upgraded 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. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $167.00.

Insider Activity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the company’s 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 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 legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.90% of the company’s stock.

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.