TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. reduced its position in TE Connectivity Ltd. (NYSE:TEL) by 3.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 36,190 shares of the electronics maker’s stock after selling 1,275 shares during the quarter. Pacer Advisors Inc.’s holdings in TE Connectivity were worth $5,174,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Pinnacle Bancorp Inc. acquired a new position in shares of TE Connectivity during the fourth quarter worth about $26,000. Armstrong Advisory Group Inc. increased its position in TE Connectivity by 208.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 150 shares during the period. Wolff Wiese Magana LLC raised its stake in shares of TE Connectivity by 2,450.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after buying an additional 245 shares in the last quarter. Hilltop National Bank acquired a new stake in shares of TE Connectivity in the 4th quarter valued at approximately $55,000. Finally, Webster Bank N. A. purchased a new stake in shares of TE Connectivity in the fourth quarter valued at approximately $61,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Insider Buying and Selling

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $151.13, for a total transaction of $587,744.57. Following the transaction, the insider now directly owns 25,976 shares in the company, valued at approximately $3,925,752.88. This represents a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.86% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on TEL. Truist Financial cut their price objective on TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Robert W. Baird raised their price objective 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. Wells Fargo & Company upped their target price on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research report 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. Finally, HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target on the stock 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $167.00.

TE Connectivity Stock Performance

NYSE TEL opened at $149.81 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The stock has a market cap of $44.71 billion, a price-to-earnings ratio of 23.93, a price-to-earnings-growth ratio of 2.12 and a beta of 1.32. TE Connectivity Ltd. has a fifty-two week low of $137.61 and a fifty-two week high of $159.98. The business has a fifty day moving average of $147.68 and a 200-day moving average of $148.75.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.84 EPS. As a group, analysts predict that TE Connectivity Ltd. will post 8.1 earnings per share for the current fiscal year.

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

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.