Blue Trust Inc. Acquires 1,181 Shares of TE Connectivity Ltd. (NYSE:TEL)

Blue Trust Inc. boosted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 68.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,915 shares of the electronics maker’s stock after purchasing an additional 1,181 shares during the quarter. Blue Trust Inc.’s holdings in TE Connectivity were worth $440,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. bought a new position in shares of TE Connectivity during the 4th quarter worth about $26,000. Armstrong Advisory Group Inc. grew its position in TE Connectivity by 208.3% during the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after buying an additional 150 shares in the last quarter. Wolff Wiese Magana LLC raised its holdings in TE Connectivity by 2,450.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock valued at $39,000 after acquiring an additional 245 shares in the last quarter. Hilltop National Bank bought a new stake in shares of TE Connectivity in the 4th quarter worth approximately $55,000. Finally, Vestor Capital LLC acquired a new stake in shares of TE Connectivity during the 3rd quarter worth approximately $66,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

Analyst Ratings Changes

TEL has been the topic of a number of recent research reports. Robert W. Baird lifted their price target on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. StockNews.com upgraded shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. 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 report on Thursday, January 23rd. Citigroup lifted their price objective on TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Finally, HSBC raised TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price for the company in a report on Thursday, January 23rd. Seven research 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 stock. According to MarketBeat, TE Connectivity currently has a consensus rating of “Moderate Buy” and an average target price of $167.00.

Insiders Place Their Bets

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the firm’s 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 sale, the insider now directly owns 25,976 shares in the company, valued at approximately $3,925,752.88. This trade represents a 13.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.90% of the company’s stock.

TE Connectivity Stock Down 1.2 %

NYSE:TEL opened at $148.05 on Friday. The stock’s fifty day simple moving average is $147.66 and its 200-day simple moving average is $148.76. The firm has a market capitalization of $44.17 billion, a P/E ratio of 23.65, a P/E/G ratio of 2.03 and a beta of 1.32. 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 Ltd. has a 12-month low of $137.61 and a 12-month high of $159.98.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate 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 for the quarter was up .1% on a year-over-year basis. During the same period last year, the company posted $1.84 EPS. Equities research analysts expect that TE Connectivity Ltd. will post 7.96 earnings per share for the current year.

TE Connectivity announced that its Board of Directors has initiated a share buyback plan on Wednesday, October 30th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally an indication 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.