TE Connectivity Ltd. (NYSE:TEL) Shares Purchased by Principal Securities Inc.

Principal Securities Inc. increased its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 8.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,362 shares of the electronics maker’s stock after buying an additional 271 shares during the period. Principal Securities Inc.’s holdings in TE Connectivity were worth $481,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TEL. Nordea Investment Management AB acquired a new position in TE Connectivity in the 4th quarter valued at about $149,211,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in TE Connectivity by 2,330.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 753,572 shares of the electronics maker’s stock valued at $107,738,000 after purchasing an additional 722,565 shares during the last quarter. Franklin Resources Inc. boosted its holdings in 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 during the last quarter. EdgePoint Investment Group Inc. boosted its holdings in 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 during the last quarter. Finally, State Street Corp boosted 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 valued at $1,940,615,000 after purchasing an additional 268,837 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

TE Connectivity Price Performance

Shares of TEL opened at $154.55 on Friday. TE Connectivity Ltd. has a fifty-two week low of $137.61 and a fifty-two week high of $159.98. The firm’s 50 day moving average price is $147.20 and its 200 day moving average price is $148.40. The company has a market cap of $46.11 billion, a P/E ratio of 24.69, a PEG ratio of 2.12 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 (NYSE:TEL) last announced its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the prior year, the firm earned $1.84 EPS. The firm’s revenue for the quarter was up .1% on a year-over-year basis. On average, research analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity declared that its board has approved a stock repurchase program on Wednesday, October 30th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the electronics maker to reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the business’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 completion of the transaction, the insider now owns 25,976 shares in the company, valued at $3,925,752.88. The trade was a 13.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TEL. Wells Fargo & Company boosted their target price on shares of TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Robert W. Baird boosted their price target 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. Citigroup boosted their price target 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. Bank of America boosted their price target 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. Finally, Truist Financial reduced their price target on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $167.00.

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.