Compagnie Lombard Odier SCmA Makes New $174,000 Investment in TE Connectivity Ltd. (NYSE:TEL)

Compagnie Lombard Odier SCmA purchased a new position in TE Connectivity Ltd. (NYSE:TEL) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,220 shares of the electronics maker’s stock, valued at approximately $174,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Nomura Asset Management Co. Ltd. raised its holdings in shares of TE Connectivity by 4.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker’s stock worth $36,732,000 after purchasing an additional 9,670 shares during the period. Glenmede Trust Co. NA raised its holdings 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 during the period. Venturi Wealth Management LLC raised its holdings in shares of TE Connectivity by 1,632.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker’s stock worth $989,000 after purchasing an additional 6,169 shares during the period. Waverton Investment Management Ltd raised its holdings in shares of TE Connectivity by 8.2% in the 3rd quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker’s stock worth $213,089,000 after purchasing an additional 106,688 shares during the period. Finally, Meyer Handelman Co. raised its holdings in shares of TE Connectivity by 9.9% in the 4th quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker’s stock worth $14,531,000 after purchasing an additional 9,175 shares during the period. 91.43% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity stock in a transaction that occurred 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 owns 25,976 shares in the company, valued at approximately $3,925,752.88. This trade represents a 13.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TEL. Wells Fargo & Company raised their target price on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a 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. Bank of America raised their target price on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Truist Financial dropped 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. Finally, HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price on the stock in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $167.00.

TE Connectivity Price Performance

TEL stock opened at $152.87 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a 52-week low of $137.61 and a 52-week high of $159.98. The stock’s 50 day moving average is $146.78 and its two-hundred day moving average is $148.23. The company has a market capitalization of $45.61 billion, a PE ratio of 24.42, a P/E/G ratio of 2.01 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping the consensus estimate of $1.89 by $0.06. The company had revenue of $3.84 billion during the quarter, compared to analyst estimates 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 was up .1% on a year-over-year basis. During the same quarter last year, the firm earned $1.84 EPS. Analysts predict that TE Connectivity Ltd. will post 7.95 earnings per share for the current fiscal year.

TE Connectivity declared that its Board of Directors has approved a stock repurchase program on Wednesday, October 30th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the electronics maker to buy up to 5.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management 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.