UMB Bank n.a. Makes New $148,000 Investment in TE Connectivity Ltd. (NYSE:TEL)

UMB Bank n.a. bought a new position in TE Connectivity Ltd. (NYSE:TEL) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,033 shares of the electronics maker’s stock, valued at approximately $148,000.

A number of other large investors also recently modified their holdings of TEL. Pinnacle Bancorp Inc. bought a new position in TE Connectivity in the 4th quarter worth approximately $26,000. Armstrong Advisory Group Inc. raised its position in shares of 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 acquiring an additional 150 shares during the last quarter. Wolff Wiese Magana LLC lifted its stake in shares of TE Connectivity by 2,450.0% during the third 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 during the period. Hilltop National Bank bought a new position in TE Connectivity in the fourth quarter valued at about $55,000. Finally, Vestor Capital LLC acquired a new stake in TE Connectivity in the third quarter worth about $66,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on TEL shares. HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price on the stock in a research note on Thursday. Wells Fargo & Company lifted their target price on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday. Citigroup raised their price target on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday. Robert W. Baird raised their target price on TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Truist Financial decreased their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a report on Thursday. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $165.00.

TE Connectivity Price Performance

NYSE TEL opened at $156.73 on Friday. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-month high of $159.98. The firm’s 50 day moving average is $147.43 and its 200-day moving average is $148.80. The company has a market capitalization of $46.78 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 2.02 and a beta of 1.32. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. The company had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3,916,310.63 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The company’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the business posted $1.84 EPS. Equities research analysts anticipate that TE Connectivity Ltd. will post 8.1 earnings per share for the current fiscal year.

TE Connectivity announced that its Board of Directors has initiated 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 reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is 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.