Sentry Investment Management LLC Reduces Position in TE Connectivity Ltd. (NYSE:TEL)

Sentry Investment Management LLC trimmed its stake in TE Connectivity Ltd. (NYSE:TEL) by 14.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,175 shares of the electronics maker’s stock after selling 191 shares during the period. Sentry Investment Management LLC’s holdings in TE Connectivity were worth $168,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Private Advisor Group LLC increased its position in TE Connectivity by 3.3% in the third quarter. Private Advisor Group LLC now owns 16,062 shares of the electronics maker’s stock worth $2,425,000 after buying an additional 513 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of TE Connectivity during the 3rd quarter valued at approximately $17,235,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in TE Connectivity by 141.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,846 shares of the electronics maker’s stock worth $5,874,000 after acquiring an additional 22,748 shares in the last quarter. Arkadios Wealth Advisors bought a new stake in TE Connectivity during the 3rd quarter worth approximately $758,000. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in TE Connectivity by 13.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 33,516 shares of the electronics maker’s stock valued at $5,061,000 after purchasing an additional 4,012 shares in the last quarter. 91.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wells Fargo & Company increased their price objective 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 upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target for the company in a research note on Thursday, January 23rd. Truist Financial lowered their price objective on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Bank of America increased their target price on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Finally, StockNews.com raised TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 19th. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $167.00.

TE Connectivity Stock Performance

NYSE TEL opened at $151.98 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. TE Connectivity Ltd. has a 1-year low of $137.61 and a 1-year high of $159.98. The business has a 50 day simple moving average of $147.35 and a two-hundred day simple moving average of $148.61. The stock has a market capitalization of $45.34 billion, a PE ratio of 24.28, a P/E/G ratio of 2.11 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share 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 analyst estimates of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. TE Connectivity’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the firm posted $1.84 earnings per share. On average, research analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity announced that its board has initiated a stock repurchase plan on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the electronics maker to purchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity stock in a transaction dated 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.90% of the company’s stock.

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.