Sanctuary Advisors LLC lessened its holdings in shares of TE Connectivity Ltd. (NYSE:TEL – Free Report) by 2.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 63,992 shares of the electronics maker’s stock after selling 1,757 shares during the period. Sanctuary Advisors LLC’s holdings in TE Connectivity were worth $9,587,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Optas LLC grew its holdings in TE Connectivity by 4.2% during the third quarter. Optas LLC now owns 1,778 shares of the electronics maker’s stock worth $268,000 after acquiring an additional 71 shares during the period. OLD National Bancorp IN grew its holdings in TE Connectivity by 3.6% in the third quarter. OLD National Bancorp IN now owns 2,478 shares of the electronics maker’s stock valued at $374,000 after purchasing an additional 85 shares during the last quarter. Metis Global Partners LLC grew its holdings in TE Connectivity by 1.0% in the third quarter. Metis Global Partners LLC now owns 9,771 shares of the electronics maker’s stock valued at $1,475,000 after purchasing an additional 96 shares during the last quarter. Insigneo Advisory Services LLC grew its holdings in TE Connectivity by 2.4% in the third quarter. Insigneo Advisory Services LLC now owns 4,530 shares of the electronics maker’s stock valued at $684,000 after purchasing an additional 108 shares during the last quarter. Finally, Concurrent Investment Advisors LLC grew its holdings in TE Connectivity by 6.4% in the third quarter. Concurrent Investment Advisors LLC now owns 1,956 shares of the electronics maker’s stock valued at $295,000 after purchasing an additional 117 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.
Analyst Ratings Changes
Several research firms have weighed in on TEL. Truist Financial lowered their target price on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. HSBC raised TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price on the stock in a report on Thursday, January 23rd. StockNews.com raised TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Citigroup increased their price objective on TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Finally, Bank of America increased their price objective on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $167.00.
TE Connectivity Stock Performance
NYSE TEL opened at $154.37 on Wednesday. The business’s 50-day moving average price is $146.82 and its 200 day moving average price is $148.15. TE Connectivity Ltd. has a twelve month low of $137.61 and a twelve month high of $159.98. The company has a market capitalization of $46.05 billion, a PE ratio of 24.66, a price-to-earnings-growth ratio of 2.01 and a beta of 1.32. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26.
TE Connectivity (NYSE:TEL – Get Free Report) last released its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.06. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.84 earnings per share. On average, research analysts predict that TE Connectivity Ltd. will post 7.95 earnings per share for the current year.
TE Connectivity declared that its board has approved a share repurchase program on Wednesday, October 30th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the electronics maker to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
Insider Transactions at TE Connectivity
In other news, insider Shadrak W. Kroeger sold 3,889 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $151.13, for a total value of $587,744.57. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.90% of the company’s stock.
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.
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