Robeco Institutional Asset Management B.V. Sells 9,552 Shares of TE Connectivity Ltd. (NYSE:TEL)

Robeco Institutional Asset Management B.V. cut its holdings in TE Connectivity Ltd. (NYSE:TEL) by 6.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 138,998 shares of the electronics maker’s stock after selling 9,552 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in TE Connectivity were worth $19,873,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Pinnacle Bancorp Inc. bought a new stake in TE Connectivity in the fourth quarter worth $26,000. Armstrong Advisory Group Inc. lifted its stake in TE Connectivity by 208.3% in the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 150 shares during the last quarter. Wolff Wiese Magana LLC increased its position in shares of TE Connectivity by 2,450.0% in the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock valued at $39,000 after acquiring an additional 245 shares during the period. Hilltop National Bank purchased a new position in shares of TE Connectivity in the fourth quarter valued at about $55,000. Finally, Webster Bank N. A. purchased a new position in shares of TE Connectivity in the fourth quarter valued at about $61,000. 91.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” 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 objective on the stock in a research report on Thursday, January 23rd. Truist Financial reduced their price target on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Wells Fargo & Company boosted 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. Finally, Robert W. Baird boosted their price target 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 investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $167.00.

Insider Transactions at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the company’s stock in a transaction that occurred on 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 owns 25,976 shares in the company, 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 SEC, which is accessible through this link. Insiders own 0.90% of the company’s stock.

TE Connectivity Trading Down 1.2 %

NYSE:TEL opened at $148.05 on Friday. The company’s 50-day simple moving average is $147.66 and its 200 day simple moving average is $148.76. The firm has a market capitalization of $44.17 billion, a P/E ratio of 23.65, a PEG ratio of 2.03 and a beta of 1.32. TE Connectivity Ltd. has a one year low of $137.61 and a one year high of $159.98. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10.

TE Connectivity (NYSE:TEL) last issued its 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. 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 business’s revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.84 earnings per share. As a group, analysts forecast that TE Connectivity Ltd. will post 7.96 EPS for the current fiscal year.

TE Connectivity declared that its Board of Directors has authorized a share buyback plan on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the electronics maker to buy up to 5.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are 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.