Flputnam Investment Management Co. Acquires 3,608 Shares of TE Connectivity Ltd. (NYSE:TEL)

Flputnam Investment Management Co. increased its holdings in TE Connectivity Ltd. (NYSE:TEL) by 11.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,285 shares of the electronics maker’s stock after purchasing an additional 3,608 shares during the period. Flputnam Investment Management Co.’s holdings in TE Connectivity were worth $4,902,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Pinnacle Bancorp Inc. bought a new stake in TE Connectivity in the fourth quarter worth $26,000. Golden State Wealth Management LLC acquired a new position in TE Connectivity during the 4th quarter worth $44,000. Hilltop National Bank acquired a new position in TE Connectivity during the 4th quarter worth $55,000. Deseret Mutual Benefit Administrators acquired a new position in TE Connectivity during the 4th quarter worth $57,000. Finally, Webster Bank N. A. acquired a new position in TE Connectivity during the 4th quarter worth $61,000. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Stock Performance

NYSE:TEL opened at $154.10 on Friday. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-month high of $159.98. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $45.97 billion, a PE ratio of 24.62, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. The firm has a 50-day moving average price of $147.87 and a 200 day moving average price of $148.74.

TE Connectivity (NYSE:TEL) last posted its quarterly 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. 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 analyst estimates of $3.92 billion. During the same quarter in the prior year, the business posted $1.84 earnings per share. The company’s quarterly revenue was up .1% compared to the same quarter last year. Research analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TEL shares. 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. Wells Fargo & Company boosted their target price on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Bank of America boosted their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Truist Financial cut their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Finally, Robert W. Baird upped their price objective on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Seven 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, TE Connectivity presently has an average rating of “Hold” and a consensus target price of $167.00.

Insider Buying and Selling

In other TE Connectivity 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 sale, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,925,752.88. This represents a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.90% of the company’s stock.

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.