TE Connectivity Ltd. (NYSE:TEL) Shares Acquired by Nations Financial Group Inc. IA ADV

Nations Financial Group Inc. IA ADV lifted its holdings in TE Connectivity Ltd. (NYSE:TEL) by 64.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,702 shares of the electronics maker’s stock after acquiring an additional 5,346 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in TE Connectivity were worth $1,959,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TEL. Exchange Traded Concepts LLC acquired a new stake in shares of TE Connectivity in the third quarter worth $235,000. Creative Planning increased its stake in shares of TE Connectivity by 3.0% in the third quarter. Creative Planning now owns 42,019 shares of the electronics maker’s stock worth $6,345,000 after acquiring an additional 1,237 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of TE Connectivity by 0.7% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,705 shares of the electronics maker’s stock worth $4,787,000 after acquiring an additional 232 shares during the period. Aaron Wealth Advisors LLC increased its stake in shares of TE Connectivity by 21.0% in the third quarter. Aaron Wealth Advisors LLC now owns 3,256 shares of the electronics maker’s stock worth $492,000 after acquiring an additional 566 shares during the period. Finally, Net Worth Advisory Group acquired a new stake in shares of TE Connectivity in the third quarter worth $305,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

Insider Transactions at TE Connectivity

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TEL. Truist Financial cut their price objective 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. Wells Fargo & Company raised their price target 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 price target on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. HSBC upgraded 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 report on Thursday, January 23rd. Finally, StockNews.com lowered shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 11th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $167.00.

TE Connectivity Stock Performance

NYSE:TEL opened at $152.87 on Friday. The company’s 50-day moving average price is $146.79 and its 200-day moving average price is $148.21. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The company has a market cap of $45.61 billion, a P/E ratio of 24.42, a P/E/G ratio of 2.01 and a beta of 1.32. TE Connectivity Ltd. has a twelve month low of $137.61 and a twelve month high of $159.98.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.06. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same period last year, the firm posted $1.84 earnings per share. On average, sell-side analysts forecast that TE Connectivity Ltd. will post 7.95 earnings per share for the current fiscal year.

TE Connectivity announced that its board has initiated a stock buyback program on Wednesday, October 30th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the electronics maker to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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.