Golden State Wealth Management LLC Makes New Investment in TE Connectivity Ltd. (NYSE:TEL)

Golden State Wealth Management LLC purchased a new position in shares of TE Connectivity Ltd. (NYSE:TEL) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 304 shares of the electronics maker’s stock, valued at approximately $44,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pinnacle Bancorp Inc. acquired a new position in shares of TE Connectivity during the fourth quarter worth approximately $26,000. Armstrong Advisory Group Inc. raised its position in shares of TE Connectivity by 208.3% during the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 150 shares during the period. Wolff Wiese Magana LLC raised its position in shares of TE Connectivity by 2,450.0% during the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after purchasing an additional 245 shares during the period. Hilltop National Bank acquired a new position in shares of TE Connectivity during the fourth quarter worth approximately $55,000. Finally, Webster Bank N. A. purchased a new stake in TE Connectivity in the 4th quarter valued at $61,000. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Stock Down 0.6 %

Shares of NYSE TEL opened at $148.82 on Wednesday. TE Connectivity Ltd. has a 52 week low of $137.61 and a 52 week high of $159.98. The business has a 50-day simple moving average of $146.96 and a two-hundred day simple moving average of $148.26. 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 has a market cap of $44.40 billion, a P/E ratio of 23.77, a P/E/G ratio of 2.01 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. The firm had revenue of $3.84 billion during the quarter, compared to the consensus estimate 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 for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the company posted $1.84 EPS. Research analysts anticipate that TE Connectivity Ltd. will post 7.95 earnings per share for the current fiscal year.

TE Connectivity declared that its Board of Directors has authorized a share buyback plan on Wednesday, October 30th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the electronics maker to repurchase up to 5.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Wells Fargo & Company increased their price target on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. Bank of America increased their price target on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Truist Financial lowered their price target on TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. HSBC raised TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target for the company in a research report on Thursday, January 23rd. Finally, Hsbc Global Res raised TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Seven equities research 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 presently has an average rating of “Hold” and a consensus target price of $167.00.

Insider Activity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity stock in a transaction dated 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 sale, the insider now owns 25,976 shares in the company, 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 SEC, which can be accessed through this link. Corporate insiders own 0.90% of the company’s stock.

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.