NewEdge Wealth LLC Boosts Holdings in TE Connectivity Ltd. (NYSE:TEL)

NewEdge Wealth LLC boosted its position in TE Connectivity Ltd. (NYSE:TEL) by 39.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,766 shares of the electronics maker’s stock after acquiring an additional 6,174 shares during the quarter. NewEdge Wealth LLC’s holdings in TE Connectivity were worth $3,112,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. acquired a new stake in TE Connectivity in the fourth quarter valued at approximately $26,000. Golden State Wealth Management LLC acquired a new stake in TE Connectivity in the fourth quarter valued at approximately $44,000. Hilltop National Bank acquired a new stake in TE Connectivity in the fourth quarter valued at approximately $55,000. Deseret Mutual Benefit Administrators acquired a new stake in TE Connectivity in the fourth quarter valued at approximately $57,000. Finally, Webster Bank N. A. acquired a new stake in TE Connectivity in the fourth quarter valued at approximately $61,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

Insider Activity at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity 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 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 filing with the SEC, which is available at the SEC website. 0.90% of the stock is currently owned by insiders.

TE Connectivity Stock Performance

Shares of TE Connectivity stock opened at $154.10 on Friday. The firm’s fifty day simple moving average is $147.87 and its 200-day simple moving average is $148.72. The stock has a market capitalization of $45.97 billion, a price-to-earnings ratio of 24.62, a PEG ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a 12 month low of $137.61 and a 12 month high of $159.98. 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) last announced its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. The business had revenue of $3.84 billion for 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 company’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the previous year, the company posted $1.84 EPS. As a group, equities analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Robert W. Baird raised their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Truist Financial cut their price objective 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. Bank of America raised their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective on the stock in a report on Thursday, January 23rd. Finally, Citigroup raised their price objective on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.