Wrapmanager Inc. Sells 567 Shares of TE Connectivity Ltd. (NYSE:TEL)

Wrapmanager Inc. lessened its holdings in TE Connectivity Ltd. (NYSE:TEL) by 14.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,265 shares of the electronics maker’s stock after selling 567 shares during the period. Wrapmanager Inc.’s holdings in TE Connectivity were worth $467,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Foundations Investment Advisors LLC bought a new position in shares of TE Connectivity in the 3rd quarter valued at about $202,000. Private Advisor Group LLC raised its position in TE Connectivity by 3.3% during the third quarter. Private Advisor Group LLC now owns 16,062 shares of the electronics maker’s stock valued at $2,425,000 after purchasing an additional 513 shares during the period. International Assets Investment Management LLC bought a new stake in shares of TE Connectivity in the 3rd quarter valued at approximately $17,235,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of TE Connectivity by 141.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,846 shares of the electronics maker’s stock worth $5,874,000 after purchasing an additional 22,748 shares during the period. Finally, Forsta AP Fonden increased its position in shares of TE Connectivity by 8.1% during the 3rd quarter. Forsta AP Fonden now owns 77,100 shares of the electronics maker’s stock valued at $11,641,000 after purchasing an additional 5,800 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. StockNews.com raised shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 19th. Truist Financial dropped their price target on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Wells Fargo & Company increased their price objective on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price for the company in a research report on Thursday, January 23rd. Finally, Bank of America increased their price target on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Seven 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $167.00.

TE Connectivity Stock Down 0.8 %

NYSE TEL opened at $153.31 on Tuesday. The business has a fifty day moving average price of $147.27 and a 200 day moving average price of $148.55. The company has a market cap of $45.74 billion, a P/E ratio of 24.49, a P/E/G ratio of 2.11 and a beta of 1.32. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. TE Connectivity Ltd. has a one year low of $137.61 and a one year high of $159.98.

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, topping the consensus estimate of $1.89 by $0.06. The firm had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. TE Connectivity’s revenue was up .1% compared to the same quarter last year. During the same period last year, the business earned $1.84 earnings per share. Research analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity announced that its board has authorized a stock 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 buy up to 5.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the 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 transaction, the insider now owns 25,976 shares of the company’s stock, 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 filing with the SEC, which is available through the SEC website. Corporate insiders own 0.90% of the company’s stock.

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.