Illinois Municipal Retirement Fund grew its position in TE Connectivity Ltd. (NYSE:TEL – Free Report) by 47.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,558 shares of the electronics maker’s stock after buying an additional 6,002 shares during the period. Illinois Municipal Retirement Fund’s holdings in TE Connectivity were worth $2,653,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. boosted its stake 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 acquiring an additional 9,670 shares in the last quarter. Glenmede Trust Co. NA boosted its position in shares of TE Connectivity by 13.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker’s stock worth $29,322,000 after purchasing an additional 23,755 shares in the last quarter. Venturi Wealth Management LLC grew its stake in TE Connectivity by 1,632.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker’s stock worth $989,000 after buying an additional 6,169 shares during the last quarter. Waverton Investment Management Ltd increased its position in TE Connectivity by 8.2% during the 3rd quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker’s stock valued at $213,089,000 after buying an additional 106,688 shares in the last quarter. Finally, Central Pacific Bank Trust Division purchased a new stake in TE Connectivity in the fourth quarter valued at about $2,920,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on TEL shares. Wells Fargo & Company upped their price objective 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. Citigroup upped 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. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective for the company in a research note on Thursday, January 23rd. Truist Financial cut their target price on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Finally, Hsbc Global Res raised TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $167.00.
TE Connectivity Stock Down 0.5 %
TE Connectivity stock opened at $151.89 on Friday. The business’s 50-day moving average price is $147.66 and its 200 day moving average price is $148.66. 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 firm has a market cap of $45.32 billion, a price-to-earnings ratio of 24.26, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a 52 week low of $137.61 and a 52 week high of $159.98.
TE Connectivity (NYSE:TEL – Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping analysts’ consensus estimates 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 quarter last year, the company earned $1.84 EPS. The business’s revenue was up .1% on a year-over-year basis. As a group, sell-side analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.
Insider Buying and Selling at TE Connectivity
In other news, insider Shadrak W. Kroeger sold 3,889 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $151.13, for a total transaction of $587,744.57. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.90% of the stock is owned by corporate insiders.
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.
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