R Squared Ltd Makes New Investment in TE Connectivity Ltd. (NYSE:TEL)

R Squared Ltd bought a new position in shares of TE Connectivity Ltd. (NYSE:TEL) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 450 shares of the electronics maker’s stock, valued at approximately $64,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Nomura Asset Management Co. Ltd. boosted its position in TE Connectivity by 4.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker’s stock valued at $36,732,000 after buying an additional 9,670 shares during the last quarter. Glenmede Trust Co. NA boosted its holdings in TE Connectivity by 13.9% in the third quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker’s stock valued at $29,322,000 after purchasing an additional 23,755 shares during the last quarter. Venturi Wealth Management LLC grew its stake in TE Connectivity by 1,632.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker’s stock valued at $989,000 after purchasing an additional 6,169 shares in the last quarter. Waverton Investment Management Ltd increased its holdings in TE Connectivity by 8.2% during the 3rd quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker’s stock worth $213,089,000 after purchasing an additional 106,688 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in shares of TE Connectivity by 21.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 69,349 shares of the electronics maker’s stock valued at $10,471,000 after purchasing an additional 12,140 shares in the last quarter. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. StockNews.com upgraded shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. Truist Financial cut their target price on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Bank of America lifted 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 Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Finally, Robert W. Baird boosted their price target on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Seven 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $167.00.

Insider Activity

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 stock was sold at an average price of $151.13, for a total value of $587,744.57. Following the sale, the insider now directly owns 25,976 shares in the company, valued at $3,925,752.88. This trade represents a 13.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

TE Connectivity Price Performance

Shares of NYSE TEL opened at $148.05 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. The firm has a market capitalization of $44.17 billion, a PE ratio of 23.65, a P/E/G ratio of 2.03 and a beta of 1.32. TE Connectivity Ltd. has a 1-year low of $137.61 and a 1-year high of $159.98. The business’s fifty day moving average price is $147.66 and its two-hundred day moving average price is $148.76.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. The business had revenue of $3.84 billion for 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%. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the company earned $1.84 EPS. On average, research analysts expect that TE Connectivity Ltd. will post 7.96 EPS for the current year.

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

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.