SG Americas Securities LLC Makes New $779,000 Investment in TE Connectivity Ltd. (NYSE:TEL)

SG Americas Securities LLC acquired a new position in TE Connectivity Ltd. (NYSE:TELFree Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 5,446 shares of the electronics maker’s stock, valued at approximately $779,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in TE Connectivity by 2.1% in the 3rd 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 in the last quarter. Geode Capital Management LLC raised its stake in shares of TE Connectivity by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker’s stock valued at $899,681,000 after purchasing an additional 75,658 shares in the last quarter. EdgePoint Investment Group Inc. raised its stake in shares of TE Connectivity by 26.0% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock valued at $508,481,000 after purchasing an additional 694,917 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of TE Connectivity by 31.1% in the 3rd quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock valued at $445,603,000 after purchasing an additional 712,228 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of TE Connectivity by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,762,099 shares of the electronics maker’s stock valued at $266,059,000 after purchasing an additional 9,864 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

Insider Activity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction that occurred on 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 sale, the insider now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TEL. Robert W. Baird upped 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. Bank of America upped their target price 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. Citigroup upped their target price on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Truist Financial lowered their price objective 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, HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective for the company in a research 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 MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $167.00.

Get Our Latest Report on TE Connectivity

TE Connectivity Price Performance

NYSE TEL opened at $147.54 on Thursday. TE Connectivity Ltd. has a 52 week low of $137.61 and a 52 week high of $159.98. The company has a current ratio of 1.68, a quick ratio of 1.08 and a debt-to-equity ratio of 0.26. The stock has a market cap of $44.02 billion, a price-to-earnings ratio of 23.57, a price-to-earnings-growth ratio of 2.12 and a beta of 1.32. The company has a 50-day moving average price of $147.69 and a two-hundred day moving average price of $148.76.

TE Connectivity (NYSE:TELGet Free Report) last posted 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 business 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%. The business’s revenue was up .1% on a year-over-year basis. During the same period last year, the firm posted $1.84 earnings per share. Analysts forecast that TE Connectivity Ltd. will post 8.1 EPS for the current year.

TE Connectivity announced that its board has approved a stock repurchase plan on Wednesday, October 30th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the electronics maker to purchase up to 5.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

About TE Connectivity

(Free Report)

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.

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Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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