Kestra Investment Management LLC Sells 299 Shares of TE Connectivity Ltd. (NYSE:TEL)

Kestra Investment Management LLC decreased its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 3.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 9,445 shares of the electronics maker’s stock after selling 299 shares during the quarter. Kestra Investment Management LLC’s holdings in TE Connectivity were worth $1,350,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Exchange Traded Concepts LLC bought a new stake in TE Connectivity during the third quarter worth about $235,000. Creative Planning lifted its stake in shares of TE Connectivity by 3.0% in the 3rd quarter. Creative Planning now owns 42,019 shares of the electronics maker’s stock valued at $6,345,000 after purchasing an additional 1,237 shares during the period. Net Worth Advisory Group purchased a new stake in TE Connectivity in the third quarter worth about $305,000. Blue Trust Inc. boosted its stake in TE Connectivity by 147.7% in the 3rd quarter. Blue Trust Inc. now owns 1,734 shares of the electronics maker’s stock worth $261,000 after purchasing an additional 1,034 shares in the last quarter. Finally, OLD National Bancorp IN boosted its stake in TE Connectivity by 3.6% during the 3rd quarter. OLD National Bancorp IN now owns 2,478 shares of the electronics maker’s stock valued at $374,000 after purchasing an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TEL shares. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Truist Financial dropped their target price on TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. StockNews.com downgraded shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 11th. Robert W. Baird upped their price objective on TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Finally, Bank of America increased their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $167.00.

Insider Activity at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $151.13, for a total value of $587,744.57. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.90% of the company’s stock.

TE Connectivity Trading Down 0.2 %

Shares of NYSE:TEL opened at $152.87 on Tuesday. The company has a current ratio of 1.68, a quick ratio of 1.10 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 company has a market cap of $45.61 billion, a PE ratio of 24.42, a P/E/G ratio of 2.01 and a beta of 1.32. The company’s 50 day moving average is $146.79 and its two-hundred day moving average is $148.13.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.06. The company had revenue of $3.84 billion for 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 quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the company posted $1.84 earnings per share. Equities analysts predict that TE Connectivity Ltd. will post 7.95 earnings per share for the current fiscal year.

TE Connectivity declared that its board has approved a stock buyback plan on Wednesday, October 30th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the electronics maker to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is 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.