Boston Financial Mangement LLC Buys New Shares in TE Connectivity Ltd. (NYSE:TEL)

Boston Financial Mangement LLC bought a new stake in TE Connectivity Ltd. (NYSE:TEL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,363 shares of the electronics maker’s stock, valued at approximately $338,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nomura Asset Management Co. Ltd. lifted its holdings in TE Connectivity by 4.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker’s stock valued at $36,732,000 after buying an additional 9,670 shares during the period. Glenmede Trust Co. NA increased its stake in TE Connectivity by 13.9% in the third quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker’s stock valued at $29,322,000 after purchasing an additional 23,755 shares in the last quarter. Venturi Wealth Management LLC increased its stake in TE Connectivity by 1,632.0% in the third quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker’s stock valued at $989,000 after purchasing an additional 6,169 shares in the last quarter. Waverton Investment Management Ltd increased its stake in TE Connectivity by 8.2% in the third quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker’s stock valued at $213,089,000 after purchasing an additional 106,688 shares in the last quarter. Finally, Meyer Handelman Co. increased its stake in TE Connectivity by 9.9% in the fourth quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker’s stock valued at $14,531,000 after purchasing an additional 9,175 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Stock Down 0.3 %

TE Connectivity stock opened at $155.65 on Friday. TE Connectivity Ltd. has a fifty-two week low of $137.61 and a fifty-two week high of $159.98. The stock has a market cap of $46.44 billion, a PE ratio of 24.86, a price-to-earnings-growth ratio of 2.09 and a beta of 1.32. The firm’s 50-day simple moving average is $147.11 and its 200 day simple moving average is $148.32. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68.

TE Connectivity (NYSE:TEL) last released its quarterly 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 business had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same period in the previous year, the company earned $1.84 earnings per share. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. Research analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity declared that its board has authorized a stock repurchase program on Wednesday, October 30th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the electronics maker to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have weighed in on TEL shares. Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Robert W. Baird lifted 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. Wells Fargo & Company lifted their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday, January 23rd. 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. Finally, Citigroup boosted their target price on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, TE Connectivity presently has an average rating of “Moderate Buy” and an average target price of $167.00.

Insider Buying and Selling

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were 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. The trade was a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.90% of the stock is owned by corporate insiders.

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.