426 Shares in TE Connectivity Ltd. (NYSE:TEL) Acquired by Webster Bank N. A.

Webster Bank N. A. bought a new stake in shares of TE Connectivity Ltd. (NYSE:TEL) in the fourth quarter, HoldingsChannel.com reports. The firm bought 426 shares of the electronics maker’s stock, valued at approximately $61,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. lifted its holdings in TE Connectivity by 68.1% in the fourth quarter. Blue Trust Inc. now owns 2,915 shares of the electronics maker’s stock valued at $440,000 after acquiring an additional 1,181 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of TE Connectivity in the 4th quarter worth approximately $353,000. Asio Capital LLC boosted its holdings in shares of TE Connectivity by 5.9% in the fourth quarter. Asio Capital LLC now owns 25,303 shares of the electronics maker’s stock worth $3,618,000 after buying an additional 1,411 shares during the last quarter. First Citizens Bank & Trust Co. grew its position in TE Connectivity by 67.7% during the fourth quarter. First Citizens Bank & Trust Co. now owns 44,271 shares of the electronics maker’s stock valued at $6,329,000 after buying an additional 17,866 shares during the period. Finally, Compass Wealth Management LLC increased its holdings in TE Connectivity by 124.6% during the fourth quarter. Compass Wealth Management LLC now owns 32,206 shares of the electronics maker’s stock valued at $4,604,000 after buying an additional 17,869 shares during the last quarter. 91.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TEL. Truist Financial cut their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. StockNews.com upgraded TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. Bank of America lifted their price objective on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price for the company in a report on Thursday, January 23rd. Finally, Citigroup lifted 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. Seven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $167.00.

TE Connectivity Stock Down 3.0 %

TEL opened at $150.08 on Tuesday. The company has a market capitalization of $44.79 billion, a PE ratio of 23.97, a price-to-earnings-growth ratio of 2.12 and a beta of 1.32. The firm has a 50-day simple moving average of $147.62 and a two-hundred day simple moving average of $148.84. The company has a quick ratio of 1.08, 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.

TE Connectivity (NYSE:TEL) last announced its quarterly 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. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The company had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3,916,310.63 billion. During the same period in the prior year, the company earned $1.84 earnings per share. The firm’s revenue was up .1% on a year-over-year basis. Analysts forecast that TE Connectivity Ltd. will post 8.1 earnings per share for the current fiscal year.

TE Connectivity declared that its Board of Directors has approved a share buyback program on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the electronics maker to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $151.13, for a total value of $587,744.57. Following the completion of the transaction, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,925,752.88. This trade represents a 13.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.86% of the stock is currently owned by company 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.