Yousif Capital Management LLC Sells 723 Shares of TE Connectivity Ltd. (NYSE:TEL)

Yousif Capital Management LLC lowered its position in TE Connectivity Ltd. (NYSE:TEL) by 1.6% in the 4th quarter, Holdings Channel reports. The fund owned 45,834 shares of the electronics maker’s stock after selling 723 shares during the quarter. Yousif Capital Management LLC’s holdings in TE Connectivity were worth $6,553,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Czech National Bank lifted its position in TE Connectivity by 6.1% during the third quarter. Czech National Bank now owns 61,911 shares of the electronics maker’s stock valued at $9,348,000 after buying an additional 3,556 shares during the period. GAMMA Investing LLC lifted its position in TE Connectivity by 55.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,549 shares of the electronics maker’s stock valued at $385,000 after acquiring an additional 905 shares during the period. Brookstone Capital Management boosted its stake in TE Connectivity by 13.5% during the third quarter. Brookstone Capital Management now owns 2,450 shares of the electronics maker’s stock worth $370,000 after acquiring an additional 292 shares in the last quarter. Patten Group Inc. grew its holdings in TE Connectivity by 10.7% in the third quarter. Patten Group Inc. now owns 1,735 shares of the electronics maker’s stock worth $262,000 after purchasing an additional 168 shares during the period. Finally, USA Financial Formulas bought a new position in shares of TE Connectivity during the third quarter valued at approximately $807,000. 91.43% of the stock is currently owned by institutional investors.

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 shares were sold at an average price of $151.13, for a total value of $587,744.57. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.90% of the company’s stock.

TE Connectivity Stock Up 0.2 %

Shares of TE Connectivity stock opened at $146.48 on Friday. TE Connectivity Ltd. has a twelve month low of $137.61 and a twelve month high of $159.98. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The company’s 50 day moving average is $147.23 and its 200 day moving average is $148.43. The company has a market cap of $43.70 billion, a price-to-earnings ratio of 23.40, a price-to-earnings-growth ratio of 2.03 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same period in the prior year, the firm earned $1.84 EPS. The company’s revenue was up .1% compared to the same quarter last year. Research analysts anticipate that TE Connectivity Ltd. will post 7.96 EPS for the current year.

TE Connectivity declared that its Board of Directors 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 reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several research firms recently weighed in on TEL. Bank of America upped their price target on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. HSBC raised TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price on the stock in a research note on Thursday, January 23rd. Citigroup upped their price target on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Truist Financial cut their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Finally, Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.