Secured Retirement Advisors LLC Acquires Shares of 4,536 TE Connectivity Ltd. (NYSE:TEL)

Secured Retirement Advisors LLC bought a new position in TE Connectivity Ltd. (NYSE:TEL) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,536 shares of the electronics maker’s stock, valued at approximately $649,000.

Other hedge funds have also made changes to their positions in the company. Pinnacle Bancorp Inc. bought a new stake in TE Connectivity during the fourth quarter worth about $26,000. Golden State Wealth Management LLC bought a new stake in TE Connectivity during the 4th quarter worth approximately $44,000. Hilltop National Bank acquired a new stake in TE Connectivity during the 4th quarter valued at $55,000. Webster Bank N. A. bought a new position in TE Connectivity in the 4th quarter valued at $61,000. Finally, Vestor Capital LLC acquired a new position in TE Connectivity in the third quarter worth $66,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

Insider Activity at TE Connectivity

In other 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 transaction of $587,744.57. Following the transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at $3,925,752.88. This trade represents a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

TE Connectivity Stock Down 0.2 %

NYSE:TEL opened at $152.87 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-month high of $159.98. The stock’s fifty day simple moving average is $146.79 and its 200-day simple moving average is $148.21. The firm has a market capitalization of $45.61 billion, a P/E ratio of 24.42, a P/E/G ratio of 2.01 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. The firm had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The company’s revenue was up .1% compared to the same quarter last year. During the same quarter last year, the business earned $1.84 earnings per share. Equities research analysts expect that TE Connectivity Ltd. will post 7.95 earnings per share for the current year.

TE Connectivity declared that its board has authorized a stock buyback program on Wednesday, October 30th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the electronics maker to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TEL shares. Truist Financial lowered their target price on TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Bank of America upped their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Citigroup raised their price target on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. StockNews.com downgraded TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 11th. Finally, Robert W. Baird lifted their target price on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, TE Connectivity has an average rating of “Hold” and an average target price of $167.00.

TE Connectivity Company 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.