TE Connectivity Ltd. (NYSE:TEL) Position Raised by Flputnam Investment Management Co.

Flputnam Investment Management Co. increased its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 11.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,285 shares of the electronics maker’s stock after purchasing an additional 3,608 shares during the period. Flputnam Investment Management Co.’s holdings in TE Connectivity were worth $4,902,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in TE Connectivity by 2.1% during the third quarter. State Street Corp now owns 12,852,607 shares of the electronics maker’s stock worth $1,940,615,000 after purchasing an additional 268,837 shares in the last quarter. Geode Capital Management LLC raised its holdings in TE Connectivity by 1.3% during the third quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker’s stock worth $899,681,000 after purchasing an additional 75,658 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in TE Connectivity by 15.0% during the fourth quarter. Bank of New York Mellon Corp now owns 3,749,622 shares of the electronics maker’s stock worth $536,083,000 after purchasing an additional 488,680 shares in the last quarter. EdgePoint Investment Group Inc. increased its holdings in shares of TE Connectivity by 26.0% in the third quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock valued at $508,481,000 after buying an additional 694,917 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of TE Connectivity by 31.1% in the third quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock valued at $445,603,000 after buying an additional 712,228 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Hsbc Global Res raised TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Truist Financial dropped their price target on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Robert W. Baird upped their price target on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Wells Fargo & Company upped their price target on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Finally, StockNews.com cut TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $167.00.

Insider Activity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the business’s 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 in the company, valued at $3,925,752.88. The trade was a 13.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.90% of the stock is currently owned by corporate insiders.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $154.10 on Friday. The company’s fifty day moving average is $147.87 and its two-hundred day moving average is $148.74. 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 company has a market cap of $45.97 billion, a P/E ratio of 24.62, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating the consensus estimate of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same period in the previous year, the company posted $1.84 EPS. TE Connectivity’s revenue was up .1% on a year-over-year basis. Equities analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

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.