Waverton Investment Management Ltd Increases Stake in TE Connectivity Ltd. (NYSE:TEL)

Waverton Investment Management Ltd raised its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 4.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,477,981 shares of the electronics maker’s stock after purchasing an additional 66,933 shares during the quarter. TE Connectivity makes up approximately 3.4% of Waverton Investment Management Ltd’s portfolio, making the stock its 12th largest holding. Waverton Investment Management Ltd owned 0.50% of TE Connectivity worth $211,373,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Optas LLC lifted its holdings in shares of TE Connectivity by 4.2% in the 3rd 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 last quarter. Ascent Wealth Partners LLC raised its position in TE Connectivity by 1.0% in the 4th quarter. Ascent Wealth Partners LLC now owns 8,610 shares of the electronics maker’s stock worth $1,231,000 after purchasing an additional 85 shares during the period. Metis Global Partners LLC lifted its stake 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 worth $1,475,000 after purchasing an additional 96 shares during the last quarter. Callan Capital LLC boosted its position in TE Connectivity by 5.4% during the fourth quarter. Callan Capital LLC now owns 2,071 shares of the electronics maker’s stock valued at $296,000 after buying an additional 106 shares during the period. Finally, Insigneo Advisory Services LLC grew its stake in shares of TE Connectivity by 2.4% during the third quarter. Insigneo Advisory Services LLC now owns 4,530 shares of the electronics maker’s stock valued at $684,000 after buying an additional 108 shares during the last quarter. Institutional investors own 91.43% of the company’s stock.

Insider Buying and Selling at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $151.13, for a total transaction of $587,744.57. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TEL shares. Hsbc Global Res raised TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. StockNews.com upgraded TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 19th. Truist Financial cut their target price 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. Wells Fargo & Company upped their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Finally, HSBC raised 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 research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $167.00.

TE Connectivity Trading Down 0.8 %

TEL opened at $154.55 on Monday. 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 52 week low of $137.61 and a 52 week high of $159.98. The stock has a market cap of $46.11 billion, a PE ratio of 24.69, a PEG ratio of 2.11 and a beta of 1.32. The business has a 50 day moving average of $147.20 and a 200-day moving average of $148.48.

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 firm 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 quarter in the previous year, the business posted $1.84 EPS. Equities research analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity declared that its Board of Directors has initiated a share buyback 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 buy up to 5.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

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.