Ferguson Wellman Capital Management Inc. Has $650,000 Position in TE Connectivity Ltd. (NYSE:TEL)

Ferguson Wellman Capital Management Inc. lessened its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 3.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,544 shares of the electronics maker’s stock after selling 175 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in TE Connectivity were worth $650,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Optas LLC lifted its holdings in shares of TE Connectivity by 4.2% in the third quarter. Optas LLC now owns 1,778 shares of the electronics maker’s stock worth $268,000 after buying an additional 71 shares in the last quarter. OLD National Bancorp IN lifted its holdings in shares of TE Connectivity by 3.6% in the third quarter. OLD National Bancorp IN now owns 2,478 shares of the electronics maker’s stock worth $374,000 after buying an additional 85 shares in the last quarter. Metis Global Partners LLC lifted its holdings in shares of TE Connectivity by 1.0% in the third quarter. Metis Global Partners LLC now owns 9,771 shares of the electronics maker’s stock worth $1,475,000 after buying an additional 96 shares in the last quarter. Insigneo Advisory Services LLC lifted its holdings in shares of TE Connectivity by 2.4% in the third quarter. Insigneo Advisory Services LLC now owns 4,530 shares of the electronics maker’s stock worth $684,000 after buying an additional 108 shares in the last quarter. Finally, Concurrent Investment Advisors LLC lifted its holdings in shares of TE Connectivity by 6.4% in the third quarter. Concurrent Investment Advisors LLC now owns 1,956 shares of the electronics maker’s stock worth $295,000 after buying an additional 117 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Trading Up 1.9 %

TEL stock opened at $149.71 on Tuesday. The company has a market capitalization of $44.66 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 2.01 and a beta of 1.32. TE Connectivity Ltd. has a one year low of $137.61 and a one year high of $159.98. The company’s 50 day moving average price is $147.05 and its two-hundred day moving average price is $148.29. 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 posted 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. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business’s revenue was up .1% compared to the same quarter last year. During the same period last year, the firm posted $1.84 earnings per share. As a group, analysts predict 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 initiated a stock repurchase program 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 stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Transactions at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $3,925,752.88. This trade represents a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company increased their price target 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. Bank of America raised their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note 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 company an “outperform” rating in a research note on Thursday, January 23rd. Finally, Truist Financial lowered 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. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.