NewEdge Wealth LLC Boosts Holdings in TE Connectivity Ltd. (NYSE:TEL)

NewEdge Wealth LLC boosted its position in TE Connectivity Ltd. (NYSE:TEL) by 39.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 21,766 shares of the electronics maker’s stock after buying an additional 6,174 shares during the period. NewEdge Wealth LLC’s holdings in TE Connectivity were worth $3,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. boosted its position in shares of TE Connectivity by 4.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker’s stock worth $36,732,000 after purchasing an additional 9,670 shares in the last quarter. Glenmede Trust Co. NA boosted its position in shares of TE Connectivity by 13.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker’s stock worth $29,322,000 after purchasing an additional 23,755 shares in the last quarter. Venturi Wealth Management LLC boosted its position in shares of 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 worth $989,000 after purchasing an additional 6,169 shares in the last quarter. Waverton Investment Management Ltd boosted its position in shares of 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 in the last quarter. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of TE Connectivity during the 4th quarter worth $2,920,000. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $151.13, for a total transaction of $587,744.57. Following the completion of the transaction, the insider now owns 25,976 shares of the company’s stock, valued at $3,925,752.88. This represents a 13.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.90% of the company’s stock.

TE Connectivity Trading Up 1.5 %

Shares of TEL stock opened at $154.10 on Friday. The firm has a 50-day moving average price of $147.87 and a 200 day moving average price of $148.72. TE Connectivity Ltd. has a twelve month low of $137.61 and a twelve month high of $159.98. The company has a market capitalization of $45.97 billion, a price-to-earnings ratio of 24.62, a PEG ratio of 2.11 and a beta of 1.32. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, beating 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 firm had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the previous year, the company posted $1.84 EPS. The firm’s revenue for the quarter was up .1% on a year-over-year basis. Research analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TEL has been the topic of several research analyst reports. Citigroup boosted their target price on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. HSBC raised TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target for the company in a research note on Thursday, January 23rd. Robert W. Baird lifted their price target on TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Wells Fargo & Company lifted their price target on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 23rd. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, TE Connectivity has an average rating of “Hold” and a consensus price target 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.