TE Connectivity Ltd. (NYSE:TEL) Stock Holdings Increased by D.A. Davidson & CO.

D.A. Davidson & CO. boosted its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 1.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,757 shares of the electronics maker’s stock after purchasing an additional 255 shares during the period. D.A. Davidson & CO.’s holdings in TE Connectivity were worth $2,968,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Truist Financial Corp boosted its holdings in TE Connectivity by 32.8% in the 4th quarter. Truist Financial Corp now owns 129,461 shares of the electronics maker’s stock valued at $18,509,000 after purchasing an additional 31,991 shares during the period. Principal Financial Group Inc. acquired a new position in shares of TE Connectivity during the fourth quarter valued at about $46,675,000. Secured Retirement Advisors LLC bought a new stake in shares of TE Connectivity in the fourth quarter valued at about $649,000. Allworth Financial LP grew its position in TE Connectivity by 27.7% during the fourth quarter. Allworth Financial LP now owns 1,444 shares of the electronics maker’s stock worth $224,000 after buying an additional 313 shares in the last quarter. Finally, Principal Securities Inc. increased its stake in TE Connectivity by 8.8% during the fourth quarter. Principal Securities Inc. now owns 3,362 shares of the electronics maker’s stock valued at $481,000 after acquiring an additional 271 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.

Insiders Place Their Bets

In related 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 value of $587,744.57. Following the completion of the transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at $3,925,752.88. The trade was a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on TEL. Citigroup raised their price objective on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Truist Financial reduced their target price 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. StockNews.com raised shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Wells Fargo & Company raised their price objective on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. Finally, Robert W. Baird upped their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, TE Connectivity presently has an average rating of “Moderate Buy” and an average price target of $167.00.

TE Connectivity Trading Down 0.3 %

Shares of TEL stock opened at $155.65 on Friday. The company has a market capitalization of $46.44 billion, a P/E ratio of 24.86, a P/E/G ratio of 2.09 and a beta of 1.32. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-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 firm has a 50-day moving average price of $147.11 and a 200 day moving average price of $148.32.

TE Connectivity (NYSE:TEL) last posted its 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 company had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. TE Connectivity’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.84 earnings per share. Research analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity announced that its board has authorized a stock repurchase plan 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 plans are generally a sign that the company’s management believes its stock is undervalued.

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.