C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Takes $1.96 Million Position in TE Connectivity Ltd. (NYSE:TEL)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of TE Connectivity Ltd. (NYSE:TEL) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 13,685 shares of the electronics maker’s stock, valued at approximately $1,957,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TEL. Pinnacle Bancorp Inc. purchased a new position in TE Connectivity in the 4th quarter worth approximately $26,000. Wolff Wiese Magana LLC increased its holdings in shares of TE Connectivity by 2,450.0% in the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock valued at $39,000 after purchasing an additional 245 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in TE Connectivity during the fourth quarter worth approximately $44,000. Hilltop National Bank acquired a new position in TE Connectivity during the fourth quarter worth $55,000. Finally, Webster Bank N. A. purchased a new stake in TE Connectivity in the 4th quarter valued at $61,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity stock in a transaction on Monday, January 27th. The stock was sold at an average price of $151.13, for a total value of $587,744.57. Following the completion of the transaction, the insider now directly owns 25,976 shares in the company, valued at approximately $3,925,752.88. This trade represents a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

TEL has been the topic of several analyst reports. Robert W. Baird lifted their price target on TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. 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 research note on Thursday, January 23rd. Truist Financial lowered 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. Bank of America lifted their target price on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Finally, Citigroup increased their price target on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $167.00.

TE Connectivity Trading Down 1.6 %

Shares of NYSE TEL opened at $146.51 on Thursday. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $43.71 billion, a PE ratio of 23.40, a PEG ratio of 2.01 and a beta of 1.32. TE Connectivity Ltd. has a twelve month low of $137.61 and a twelve month high of $159.98. The stock has a fifty day simple moving average of $146.90 and a 200-day simple moving average of $148.21.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.06. The company had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. TE Connectivity’s revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.84 EPS. On average, equities analysts forecast that TE Connectivity Ltd. will post 7.95 earnings per share for the current year.

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