TE Connectivity Ltd. (NYSE:TEL) Shares Bought by Empowered Funds LLC

Empowered Funds LLC increased its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 66.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 44,468 shares of the electronics maker’s stock after purchasing an additional 17,725 shares during the period. Empowered Funds LLC’s holdings in TE Connectivity were worth $6,358,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in TEL. Pinnacle Bancorp Inc. purchased a new stake in shares of TE Connectivity in the fourth quarter worth about $26,000. Armstrong Advisory Group Inc. boosted its holdings in TE Connectivity by 208.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after acquiring an additional 150 shares during the period. Wolff Wiese Magana LLC raised its stake in shares of TE Connectivity by 2,450.0% during the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock valued at $39,000 after purchasing an additional 245 shares during the period. Golden State Wealth Management LLC acquired a new position in shares of TE Connectivity during the fourth quarter worth $44,000. Finally, Hilltop National Bank purchased a new position in shares of TE Connectivity in the fourth quarter valued at $55,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on TEL shares. Wells Fargo & Company boosted their price objective on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. Robert W. Baird increased their price target on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Truist Financial dropped their price objective on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. StockNews.com upgraded TE Connectivity from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. Finally, HSBC upgraded shares of 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. Seven investment 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 stock. According to data from MarketBeat, TE Connectivity currently has a consensus rating of “Moderate Buy” and a consensus price target of $167.00.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity stock in a transaction that occurred on Monday, January 27th. The stock was 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 of the company’s stock, valued at approximately $3,925,752.88. The trade was a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.90% of the stock is currently owned by company insiders.

TE Connectivity Price Performance

TEL opened at $149.71 on Tuesday. 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 company’s 50-day moving average price is $147.05 and its 200 day moving average price is $148.29. TE Connectivity Ltd. has a fifty-two week low of $137.61 and a fifty-two week high of $159.98. The firm has a market cap of $44.66 billion, a price-to-earnings ratio of 23.91, a price-to-earnings-growth ratio of 2.01 and a beta of 1.32.

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

TE Connectivity declared that its Board of Directors has initiated a share buyback plan on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the electronics maker to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

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.