TE Connectivity Ltd. (NYSE:TEL) Shares Sold by SOL Capital Management CO

SOL Capital Management CO decreased its holdings in TE Connectivity Ltd. (NYSE:TEL) by 9.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 9,430 shares of the electronics maker’s stock after selling 1,000 shares during the quarter. SOL Capital Management CO’s holdings in TE Connectivity were worth $1,348,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Pinnacle Bancorp Inc. acquired a new position in shares of TE Connectivity in the 4th quarter worth $26,000. Armstrong Advisory Group Inc. boosted its position in shares of TE Connectivity by 208.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 150 shares during the period. Wolff Wiese Magana LLC increased its stake in TE Connectivity by 2,450.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after purchasing an additional 245 shares in the last quarter. Hilltop National Bank purchased a new stake in TE Connectivity during the fourth quarter valued at about $55,000. Finally, Webster Bank N. A. purchased a new stake in TE Connectivity during the fourth quarter valued at about $61,000. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Trading Down 1.2 %

Shares of NYSE TEL opened at $148.05 on Friday. The business has a 50 day simple moving average of $147.66 and a 200 day simple moving average of $148.76. TE Connectivity Ltd. has a 52 week low of $137.61 and a 52 week high of $159.98. The stock has a market cap of $44.17 billion, a price-to-earnings ratio of 23.65, a PEG ratio of 2.03 and a beta of 1.32. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping the consensus estimate of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the prior year, the business posted $1.84 EPS. TE Connectivity’s quarterly revenue was up .1% on a year-over-year basis. On average, research analysts predict that TE Connectivity Ltd. will post 7.96 earnings per share for the current fiscal year.

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

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 stock was sold at an average price of $151.13, for a total value of $587,744.57. Following the transaction, the insider now directly 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 Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

TEL has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 18th. Robert W. Baird boosted 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. Wells Fargo & Company raised their target price on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Citigroup upped their price target on TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Finally, 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. Seven equities research 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. According to MarketBeat, TE Connectivity has a consensus rating of “Moderate Buy” and an average target price of $167.00.

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.