TE Connectivity Ltd. (NYSE:TEL) Shares Purchased by Core Alternative Capital

Core Alternative Capital increased its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 8.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 27,799 shares of the electronics maker’s stock after acquiring an additional 2,143 shares during the quarter. Core Alternative Capital’s holdings in TE Connectivity were worth $3,974,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB acquired a new position in shares of TE Connectivity during the 4th quarter valued at $149,211,000. Sumitomo Mitsui Trust Group Inc. increased its stake in TE Connectivity by 2,330.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 753,572 shares of the electronics maker’s stock worth $107,738,000 after buying an additional 722,565 shares during the period. Franklin Resources Inc. increased its stake in TE Connectivity by 31.1% during the 3rd quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock worth $445,603,000 after buying an additional 712,228 shares during the period. EdgePoint Investment Group Inc. increased its position in shares of TE Connectivity by 26.0% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock worth $508,481,000 after purchasing an additional 694,917 shares during the last quarter. Finally, State Street Corp increased its position in shares of TE Connectivity by 2.1% in the 3rd quarter. State Street Corp now owns 12,852,607 shares of the electronics maker’s stock worth $1,940,615,000 after purchasing an additional 268,837 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

Insider Buying and Selling

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the business’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 sale, the insider now directly owns 25,976 shares in the company, valued at $3,925,752.88. The trade was a 13.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.90% of the company’s stock.

TE Connectivity Trading Up 1.9 %

Shares of NYSE:TEL opened at $149.71 on Tuesday. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The company has a 50 day moving average of $147.05 and a 200-day moving average of $148.29. TE Connectivity Ltd. has a twelve month low of $137.61 and a twelve month high of $159.98. The firm has a market cap of $44.66 billion, a P/E ratio of 23.91, a P/E/G ratio of 2.01 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the previous year, the firm earned $1.84 EPS. The business’s revenue for the quarter was up .1% on a year-over-year basis. As a group, analysts anticipate that TE Connectivity Ltd. will post 7.95 earnings per share for the current fiscal year.

TE Connectivity announced that its board has initiated a share buyback plan on Wednesday, October 30th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the electronics maker to reacquire up to 5.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TEL. Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Truist Financial reduced their target price 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. Wells Fargo & Company boosted their target price on shares of TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday, January 23rd. 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. Finally, Citigroup upped their price target on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Seven research 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $167.00.

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.