Yousif Capital Management LLC Sells 723 Shares of TE Connectivity Ltd. (NYSE:TEL)

Yousif Capital Management LLC cut its position in TE Connectivity Ltd. (NYSE:TEL) by 1.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,834 shares of the electronics maker’s stock after selling 723 shares during the quarter. Yousif Capital Management LLC’s holdings in TE Connectivity were worth $6,553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. ARGA Investment Management LP boosted its stake in TE Connectivity by 12.6% during the fourth quarter. ARGA Investment Management LP now owns 13,717 shares of the electronics maker’s stock valued at $1,961,000 after buying an additional 1,538 shares during the period. Ninety One North America Inc. increased its stake in TE Connectivity by 2.3% in the 4th quarter. Ninety One North America Inc. now owns 102,503 shares of the electronics maker’s stock worth $14,655,000 after acquiring an additional 2,338 shares during the last quarter. Mather Group LLC. raised its holdings in shares of TE Connectivity by 5.8% in the 4th quarter. Mather Group LLC. now owns 5,124 shares of the electronics maker’s stock valued at $733,000 after acquiring an additional 281 shares in the last quarter. abrdn plc purchased a new position in shares of TE Connectivity during the fourth quarter worth about $15,739,000. Finally, Greenleaf Trust bought a new position in shares of TE Connectivity in the fourth quarter worth approximately $1,373,000. 91.43% of the stock is owned by institutional investors.

TE Connectivity Stock Up 0.2 %

Shares of TE Connectivity stock opened at $146.48 on Friday. The company’s 50 day moving average price is $147.23 and its 200-day moving average price is $148.43. TE Connectivity Ltd. has a 52-week low of $137.61 and a 52-week high of $159.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The stock has a market capitalization of $43.70 billion, a price-to-earnings ratio of 23.40, a P/E/G ratio of 2.03 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. The firm had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.84 earnings per share. Equities research analysts forecast that TE Connectivity Ltd. will post 7.96 EPS for the current year.

TE Connectivity declared that its Board of Directors has initiated 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 purchase up to 5.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the business’s stock in a transaction that occurred 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 approximately $3,925,752.88. The trade was a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TEL shares. Wells Fargo & Company boosted their price target 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. Hsbc Global Res raised 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 TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective on the stock in a research report on Thursday, January 23rd. Finally, Bank of America upped their target price on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, TE Connectivity currently has an average rating of “Moderate Buy” and a consensus target price of $167.00.

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.