Wilmington Savings Fund Society FSB Cuts Position in TE Connectivity Ltd. (NYSE:TEL)

Wilmington Savings Fund Society FSB lowered its position in TE Connectivity Ltd. (NYSE:TEL) by 21.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,176 shares of the electronics maker’s stock after selling 3,608 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in TE Connectivity were worth $1,884,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Optas LLC increased its stake in TE Connectivity by 4.2% in the third quarter. Optas LLC now owns 1,778 shares of the electronics maker’s stock valued at $268,000 after purchasing an additional 71 shares during the last quarter. OLD National Bancorp IN grew its position in shares of TE Connectivity by 3.6% in the 3rd quarter. OLD National Bancorp IN now owns 2,478 shares of the electronics maker’s stock valued at $374,000 after buying an additional 85 shares during the last quarter. Metis Global Partners LLC raised its stake in TE Connectivity by 1.0% during the 3rd quarter. Metis Global Partners LLC now owns 9,771 shares of the electronics maker’s stock worth $1,475,000 after acquiring an additional 96 shares in the last quarter. Insigneo Advisory Services LLC lifted its position in TE Connectivity by 2.4% in the third quarter. Insigneo Advisory Services LLC now owns 4,530 shares of the electronics maker’s stock valued at $684,000 after acquiring an additional 108 shares during the last quarter. Finally, Concurrent Investment Advisors LLC boosted its stake in TE Connectivity by 6.4% in the third quarter. Concurrent Investment Advisors LLC now owns 1,956 shares of the electronics maker’s stock valued at $295,000 after acquiring an additional 117 shares in the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on TEL shares. Robert W. Baird boosted their target price on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating 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. Citigroup raised their target price on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Truist Financial reduced 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 report on Thursday, January 23rd. Finally, Bank of America lifted their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, TE Connectivity has a consensus rating of “Moderate Buy” and an average price target of $167.00.

TE Connectivity Trading Up 0.3 %

Shares of TE Connectivity stock opened at $146.95 on Monday. 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 firm has a market cap of $43.84 billion, a price-to-earnings ratio of 23.47, a price-to-earnings-growth ratio of 2.01 and a beta of 1.32. TE Connectivity Ltd. has a 52-week low of $137.61 and a 52-week high of $159.98. The company’s 50-day simple moving average is $147.05 and its 200-day simple moving average is $148.35.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating 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 business had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same period last year, the firm earned $1.84 EPS. The company’s quarterly revenue was up .1% compared to the same quarter last year. As a group, equities research analysts anticipate that TE Connectivity Ltd. will post 7.95 earnings per share for the current year.

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

Insider Transactions at TE Connectivity

In related 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 completion of the sale, the insider now owns 25,976 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.90% of the company’s stock.

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.