Atria Wealth Solutions Inc. Sells 3,296 Shares of TE Connectivity Ltd. (NYSE:TEL)

Atria Wealth Solutions Inc. lessened its holdings in TE Connectivity Ltd. (NYSE:TEL) by 37.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,471 shares of the electronics maker’s stock after selling 3,296 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in TE Connectivity were worth $782,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. GAM Holding AG bought a new stake in TE Connectivity in the 4th quarter valued at about $8,681,000. Venturi Wealth Management LLC raised its stake in shares of TE Connectivity by 80.6% during the fourth quarter. Venturi Wealth Management LLC now owns 11,821 shares of the electronics maker’s stock valued at $1,690,000 after acquiring an additional 5,274 shares during the last quarter. D.A. Davidson & CO. increased its stake in shares of TE Connectivity by 1.2% in the fourth quarter. D.A. Davidson & CO. now owns 20,757 shares of the electronics maker’s stock valued at $2,968,000 after buying an additional 255 shares during the period. Truist Financial Corp lifted its position in shares of TE Connectivity by 32.8% in the 4th quarter. Truist Financial Corp now owns 129,461 shares of the electronics maker’s stock worth $18,509,000 after purchasing an additional 31,991 shares during the period. Finally, Principal Financial Group Inc. bought a new stake in shares of TE Connectivity during the 4th quarter valued at about $46,675,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $3,925,752.88. This represents a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.90% of the company’s stock.

TE Connectivity Stock Performance

Shares of TEL stock opened at $151.98 on Wednesday. TE Connectivity Ltd. has a 52 week low of $137.61 and a 52 week high of $159.98. The firm has a market capitalization of $45.34 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 2.11 and a beta of 1.32. The stock has a fifty day moving average of $147.35 and a 200 day moving average of $148.61. 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 released its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (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 firm had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same period last year, the business earned $1.84 earnings per share. The business’s revenue was up .1% on a year-over-year basis. As a group, research analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Truist Financial decreased 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 note on Thursday, January 23rd. Robert W. Baird boosted their price objective on TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Citigroup raised their target price on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Hsbc Global Res raised TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Finally, Wells Fargo & Company boosted their price objective on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $167.00.

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.