Stonebridge Financial Group LLC Invests $124,000 in TE Connectivity Ltd. (NYSE:TEL)

Stonebridge Financial Group LLC purchased a new stake in TE Connectivity Ltd. (NYSE:TEL) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 867 shares of the electronics maker’s stock, valued at approximately $124,000.

Several other institutional investors have also recently bought and sold shares of the stock. Core Alternative Capital raised its position in shares of TE Connectivity by 8.4% during the fourth quarter. Core Alternative Capital now owns 27,799 shares of the electronics maker’s stock worth $3,974,000 after acquiring an additional 2,143 shares during the last quarter. Walter & Keenan Wealth Management LLC IN ADV acquired a new stake in TE Connectivity in the fourth quarter worth about $243,000. Howland Capital Management LLC raised its holdings in TE Connectivity by 3.3% during the 4th quarter. Howland Capital Management LLC now owns 218,154 shares of the electronics maker’s stock worth $31,189,000 after purchasing an additional 7,022 shares during the last quarter. Empowered Funds LLC lifted its position in TE Connectivity by 66.3% during the 4th quarter. Empowered Funds LLC now owns 44,468 shares of the electronics maker’s stock valued at $6,358,000 after purchasing an additional 17,725 shares during the period. Finally, Vest Financial LLC boosted its stake in shares of TE Connectivity by 9.7% in the 4th quarter. Vest Financial LLC now owns 4,258 shares of the electronics maker’s stock valued at $609,000 after purchasing an additional 377 shares during the last quarter. Institutional investors own 91.43% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on TEL. StockNews.com downgraded shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Bank of America increased their price target on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Wells Fargo & Company raised their price target on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Truist Financial dropped their price objective on TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Finally, Citigroup raised their target price on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $167.00.

TE Connectivity Trading Down 1.6 %

NYSE:TEL opened at $146.51 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. The business’s 50-day simple moving average is $146.90 and its 200-day simple moving average is $148.21. TE Connectivity Ltd. has a fifty-two week low of $137.61 and a fifty-two week high of $159.98. The stock has a market capitalization of $43.71 billion, a PE ratio of 23.40, a price-to-earnings-growth ratio of 2.01 and a beta of 1.32.

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, 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 firm 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 business’s revenue was up .1% on a year-over-year basis. Sell-side analysts expect that TE Connectivity Ltd. will post 7.95 earnings per share for the current fiscal year.

TE Connectivity announced that its Board of Directors has initiated a share buyback plan on Wednesday, October 30th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity 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 sale, the insider now owns 25,976 shares of the company’s stock, 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 the SEC website. 0.90% of the stock is currently owned by insiders.

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.