SVB Wealth LLC Acquires Shares of 24,655 TE Connectivity Ltd. (NYSE:TEL)

SVB Wealth LLC acquired a new stake in shares of TE Connectivity Ltd. (NYSE:TEL) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 24,655 shares of the electronics maker’s stock, valued at approximately $3,525,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pinnacle Bancorp Inc. purchased a new position in TE Connectivity during the fourth quarter valued at $26,000. Golden State Wealth Management LLC purchased a new position in TE Connectivity during the fourth quarter valued at $44,000. Hilltop National Bank purchased a new position in TE Connectivity during the fourth quarter valued at $55,000. Deseret Mutual Benefit Administrators purchased a new position in TE Connectivity during the fourth quarter valued at $57,000. Finally, Webster Bank N. A. purchased a new position in TE Connectivity during the fourth quarter valued at $61,000. 91.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity 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 sale, the insider now directly owns 25,976 shares in the company, valued at $3,925,752.88. This trade represents a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target on the stock in a research note on Thursday, January 23rd. Wells Fargo & Company raised their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 23rd. Bank of America raised their price target 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. StockNews.com downgraded shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Friday. Finally, Robert W. Baird raised their price target on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $167.00.

TE Connectivity Price Performance

TE Connectivity stock 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 stock has a market cap of $45.97 billion, a P/E ratio of 24.62, a PEG ratio of 2.11 and a beta of 1.32. The company has a 50-day moving average price of $147.87 and a 200 day moving average price of $148.74. 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 quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $3.92 billion. During the same period last year, the business earned $1.84 earnings per share. The business’s revenue for the quarter was up .1% on a year-over-year basis. Sell-side analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

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.