867 Shares in TE Connectivity Ltd. (NYSE:TEL) Bought by Stonebridge Financial Group LLC

Stonebridge Financial Group LLC purchased a new stake in TE Connectivity Ltd. (NYSE:TEL) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 867 shares of the electronics maker’s stock, valued at approximately $124,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Street Corp increased its holdings in TE Connectivity by 2.1% during the third quarter. State Street Corp now owns 12,852,607 shares of the electronics maker’s stock worth $1,940,615,000 after buying an additional 268,837 shares during the last quarter. Geode Capital Management LLC grew its position in shares of TE Connectivity by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker’s stock valued at $899,681,000 after acquiring an additional 75,658 shares during the period. EdgePoint Investment Group Inc. increased its stake in shares of TE Connectivity by 26.0% during 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. Franklin Resources Inc. raised its holdings in shares of TE Connectivity by 31.1% in the 3rd quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock valued at $445,603,000 after purchasing an additional 712,228 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in TE Connectivity by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,762,099 shares of the electronics maker’s stock valued at $266,059,000 after purchasing an additional 9,864 shares during the last quarter. 91.43% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $151.13, for a total transaction of $587,744.57. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.90% of the company’s stock.

TE Connectivity Trading Down 1.6 %

Shares of NYSE:TEL opened at $146.51 on Thursday. The business’s 50 day simple moving average is $146.90 and its 200 day simple moving average is $148.21. TE Connectivity Ltd. has a 1 year low of $137.61 and a 1 year high of $159.98. 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 company has a market capitalization of $43.71 billion, a P/E ratio of 23.40, 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.06. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. TE Connectivity’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.84 EPS. On average, research analysts anticipate that TE Connectivity Ltd. will post 7.95 EPS for the current fiscal year.

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TEL. Robert W. Baird boosted their price target on TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Wells Fargo & Company increased their price objective on shares of TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research 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 stock a “buy” rating in a research note on Thursday, January 23rd. Truist Financial decreased their price target 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. Finally, HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective for the company in a research report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $167.00.

About TE Connectivity

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.