Versor Investments LP Boosts Stake in TE Connectivity Ltd. (NYSE:TEL)

Versor Investments LP raised its position in TE Connectivity Ltd. (NYSE:TEL) by 457.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,492 shares of the electronics maker’s stock after purchasing an additional 11,892 shares during the quarter. Versor Investments LP’s holdings in TE Connectivity were worth $2,072,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of TEL. Pinnacle Bancorp Inc. purchased a new position in TE Connectivity in the fourth quarter valued at approximately $26,000. Golden State Wealth Management LLC purchased a new position in shares of TE Connectivity in the 4th quarter valued at $44,000. Hilltop National Bank acquired a new position in shares of TE Connectivity during the 4th quarter valued at $55,000. Deseret Mutual Benefit Administrators purchased a new stake in TE Connectivity during the 4th quarter worth $57,000. Finally, Webster Bank N. A. purchased a new stake in TE Connectivity during the 4th quarter worth $61,000. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Stock Performance

Shares of TEL stock opened at $152.63 on Thursday. The stock has a market capitalization of $45.54 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 2.11 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’s 50-day simple moving average is $147.50 and its 200-day simple moving average is $148.63. 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 (NYSE:TEL) last announced its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.06. The firm had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. TE Connectivity’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.84 earnings per share. Equities analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

TEL has been the topic of several research reports. StockNews.com raised TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 19th. Truist Financial reduced their price target on 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 increased their price objective 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. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Finally, Robert W. Baird raised their price target on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $167.00.

Insider Transactions at TE Connectivity

In related 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 sale, the insider now owns 25,976 shares in the company, valued at $3,925,752.88. This represents a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.