TE Connectivity Ltd. (NYSE:TEL) Stock Holdings Trimmed by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lowered its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 3.7% during the 4th quarter, Holdings Channel reports. The fund owned 157,362 shares of the electronics maker’s stock after selling 5,970 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in TE Connectivity were worth $22,498,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. State Street Corp increased its position in shares of TE Connectivity by 2.1% during the 3rd quarter. State Street Corp now owns 12,852,607 shares of the electronics maker’s stock valued at $1,940,615,000 after purchasing an additional 268,837 shares during the period. Geode Capital Management LLC increased its position in shares of TE Connectivity by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker’s stock valued at $899,681,000 after purchasing an additional 75,658 shares during the period. EdgePoint Investment Group Inc. increased its position in shares of TE Connectivity by 26.0% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock valued at $508,481,000 after purchasing an additional 694,917 shares during the period. Franklin Resources Inc. increased its position in shares of TE Connectivity by 31.1% during the 3rd quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock valued at $445,603,000 after purchasing an additional 712,228 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of TE Connectivity by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,762,099 shares of the electronics maker’s stock valued at $266,059,000 after purchasing an additional 9,864 shares during the period. Institutional investors own 91.43% of the company’s stock.

Insider Activity at TE Connectivity

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 transaction of $587,744.57. Following the completion of the sale, the insider now owns 25,976 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on TEL. HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target on the stock in a research report on Thursday, January 23rd. Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Wells Fargo & Company lifted their target price on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. Bank of America lifted their target price on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, Truist Financial decreased their target price on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $167.00.

TE Connectivity Stock Performance

Shares of TEL stock opened at $152.87 on Friday. TE Connectivity Ltd. has a 1-year low of $137.61 and a 1-year high of $159.98. 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 company has a market capitalization of $45.61 billion, a price-to-earnings ratio of 24.42, a P/E/G ratio of 2.01 and a beta of 1.32. The stock’s fifty day simple moving average is $146.79 and its 200-day simple moving average is $148.21.

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 during the quarter, compared to analysts’ expectations of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the firm earned $1.84 earnings per share. On average, sell-side analysts predict that TE Connectivity Ltd. will post 7.95 earnings per share for the current fiscal year.

TE Connectivity announced that its Board of Directors has authorized a share repurchase program 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 shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

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.