Allworth Financial LP Has $224,000 Stake in TE Connectivity Ltd. (NYSE:TEL)

Allworth Financial LP raised its position in TE Connectivity Ltd. (NYSE:TEL) by 27.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,444 shares of the electronics maker’s stock after acquiring an additional 313 shares during the quarter. Allworth Financial LP’s holdings in TE Connectivity were worth $224,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its position in TE Connectivity by 49.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 67,351 shares of the electronics maker’s stock worth $10,169,000 after buying an additional 22,164 shares during the last quarter. Foundations Investment Advisors LLC acquired a new position in shares of TE Connectivity during the 3rd quarter worth approximately $202,000. Private Advisor Group LLC raised its stake in TE Connectivity by 3.3% in the 3rd quarter. Private Advisor Group LLC now owns 16,062 shares of the electronics maker’s stock valued at $2,425,000 after acquiring an additional 513 shares during the period. International Assets Investment Management LLC acquired a new stake in TE Connectivity during the 3rd quarter valued at $17,235,000. Finally, Dakota Wealth Management boosted its position in TE Connectivity by 22.3% during the third quarter. Dakota Wealth Management now owns 13,599 shares of the electronics maker’s stock worth $2,053,000 after purchasing an additional 2,478 shares during the period. Institutional investors own 91.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Truist Financial dropped their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. StockNews.com raised shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Bank of America boosted their price objective on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. HSBC upgraded 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, January 23rd. Finally, Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Seven equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $167.00.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $151.13, for a total value of $587,744.57. Following the completion of the sale, the insider now directly owns 25,976 shares in the company, valued at $3,925,752.88. This trade represents a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.90% of the stock is currently owned by corporate insiders.

TE Connectivity Stock Down 0.8 %

TEL opened at $154.55 on Friday. The business’s fifty day simple moving average is $147.20 and its 200 day simple moving average is $148.44. TE Connectivity Ltd. has a 52 week low of $137.61 and a 52 week high of $159.98. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The stock has a market cap of $46.11 billion, a PE ratio of 24.69, a P/E/G ratio of 2.11 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating 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 company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter last year, the firm earned $1.84 EPS. The firm’s quarterly revenue was up .1% compared to the same quarter last year. As a group, research analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the electronics maker to repurchase up to 5.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

TE Connectivity 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.