National Pension Service Raises Stock Position in TE Connectivity Ltd. (NYSE:TEL)

National Pension Service lifted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 0.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 776,519 shares of the electronics maker’s stock after purchasing an additional 3,030 shares during the period. National Pension Service owned about 0.26% of TE Connectivity worth $111,019,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Pinnacle Bancorp Inc. purchased a new position in shares of TE Connectivity during the 4th quarter worth approximately $26,000. Golden State Wealth Management LLC purchased a new position in shares of TE Connectivity during the 4th quarter worth approximately $44,000. Hilltop National Bank purchased a new position in shares of TE Connectivity during the 4th quarter worth approximately $55,000. Deseret Mutual Benefit Administrators purchased a new position in shares of TE Connectivity during the 4th quarter worth approximately $57,000. Finally, Webster Bank N. A. purchased a new position in shares of TE Connectivity during the 4th quarter worth approximately $61,000. 91.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the firm’s stock in a transaction 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.90% of the company’s stock.

TE Connectivity Stock Up 0.5 %

Shares of TEL opened at $152.63 on Thursday. The firm has a market cap of $45.54 billion, a PE ratio of 24.38, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. The company’s fifty day moving average is $147.50 and its two-hundred day moving average is $148.63. TE Connectivity Ltd. has a fifty-two week low of $137.61 and a fifty-two week 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.

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

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Truist Financial dropped 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 note on Thursday, January 23rd. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price on the stock in a research report on Thursday, January 23rd. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Robert W. Baird raised their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Finally, Bank of America raised their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, TE Connectivity presently has a consensus rating of “Moderate Buy” and an average price target of $167.00.

About TE Connectivity

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.