Wealthcare Capital Partners LLC Takes Position in TE Connectivity Ltd. (NYSE:TEL)

Wealthcare Capital Partners LLC acquired a new position in shares of TE Connectivity Ltd. (NYSE:TEL) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,913 shares of the electronics maker’s stock, valued at approximately $273,000.

Several other institutional investors have also added to or reduced their stakes in the stock. State Street Corp boosted its position in shares of TE Connectivity by 2.1% during the third quarter. State Street Corp now owns 12,852,607 shares of the electronics maker’s stock worth $1,940,615,000 after buying an additional 268,837 shares during the period. Geode Capital Management LLC boosted its position in TE Connectivity by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker’s stock worth $899,681,000 after acquiring an additional 75,658 shares during the last quarter. EdgePoint Investment Group Inc. grew its stake in shares of TE Connectivity by 26.0% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock worth $508,481,000 after acquiring an additional 694,917 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of TE Connectivity by 31.1% in the third quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock worth $445,603,000 after purchasing an additional 712,228 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in TE Connectivity by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,762,099 shares of the electronics maker’s stock worth $266,059,000 after purchasing an additional 9,864 shares during the last quarter. 91.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on TEL. Bank of America boosted their price target 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. Wells Fargo & Company upped their target price on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. Truist Financial decreased their price target on TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Robert W. Baird raised their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Finally, Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $167.00.

Insiders Place Their Bets

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the 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 $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 available through the SEC website. Company insiders own 0.90% of the company’s stock.

TE Connectivity Stock Up 1.9 %

TE Connectivity stock opened at $149.71 on Tuesday. TE Connectivity Ltd. has a twelve month low of $137.61 and a twelve month high of $159.98. The stock has a market cap of $44.66 billion, a P/E ratio of 23.91, a P/E/G ratio of 2.01 and a beta of 1.32. The company’s 50-day moving average price is $147.05 and its two-hundred day moving average price is $148.29. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data 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. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter last year, the business earned $1.84 EPS. The company’s quarterly revenue was up .1% compared to the same quarter last year. As a group, analysts expect that TE Connectivity Ltd. will post 7.95 EPS for the current year.

TE Connectivity declared that its Board of Directors has approved a share buyback program on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to buy up to 5.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

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.