Ascent Wealth Partners LLC Has $1.23 Million Holdings in TE Connectivity Ltd. (NYSE:TEL)

Ascent Wealth Partners LLC grew its stake in TE Connectivity Ltd. (NYSE:TEL) by 1.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,610 shares of the electronics maker’s stock after buying an additional 85 shares during the period. Ascent Wealth Partners LLC’s holdings in TE Connectivity were worth $1,231,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in TEL. Nordea Investment Management AB acquired a new stake in shares of TE Connectivity in the fourth quarter worth about $149,211,000. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of TE Connectivity by 2,330.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 753,572 shares of the electronics maker’s stock worth $107,738,000 after purchasing an additional 722,565 shares during the period. Franklin Resources Inc. increased its stake in shares of TE Connectivity by 31.1% in the third quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock worth $445,603,000 after purchasing an additional 712,228 shares during the period. EdgePoint Investment Group Inc. increased its stake in shares of TE Connectivity by 26.0% in the third quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock worth $508,481,000 after purchasing an additional 694,917 shares during the period. Finally, Principal Financial Group Inc. bought a new position in shares of TE Connectivity in the fourth quarter worth about $46,675,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Bank of America lifted their price objective on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. StockNews.com upgraded TE Connectivity from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. 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 note on Thursday, January 23rd. Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Finally, Truist Financial lowered their price target on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $167.00.

TE Connectivity Trading Down 0.8 %

TEL stock opened at $154.55 on Friday. TE Connectivity Ltd. has a 1-year low of $137.61 and a 1-year high of $159.98. The firm has a market cap of $46.11 billion, a P/E ratio of 24.69, a P/E/G ratio of 2.11 and a beta of 1.32. The business’s 50 day moving average is $147.20 and its 200-day moving average is $148.44. 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 (NYSE:TEL) last released its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, beating 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 company’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.84 EPS. Equities analysts anticipate that TE Connectivity Ltd. will post 8.05 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 allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the electronics maker to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at TE Connectivity

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 value of $587,744.57. Following the transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at $3,925,752.88. The trade was a 13.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is owned by company insiders.

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.