D.A. Davidson & CO. Grows Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

D.A. Davidson & CO. boosted its stake in TE Connectivity Ltd. (NYSE:TELFree Report) by 2.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,604 shares of the electronics maker’s stock after acquiring an additional 330 shares during the period. D.A. Davidson & CO.’s holdings in TE Connectivity were worth $2,051,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Cibc World Market Inc. grew its position in shares of TE Connectivity by 63.8% during the first quarter. Cibc World Market Inc. now owns 11,366 shares of the electronics maker’s stock worth $1,489,000 after acquiring an additional 4,427 shares during the last quarter. Cetera Investment Advisers grew its position in TE Connectivity by 16.2% during the 1st quarter. Cetera Investment Advisers now owns 25,817 shares of the electronics maker’s stock worth $3,382,000 after purchasing an additional 3,598 shares during the last quarter. Dakota Wealth Management increased its stake in TE Connectivity by 23.0% in the first quarter. Dakota Wealth Management now owns 4,259 shares of the electronics maker’s stock valued at $558,000 after purchasing an additional 797 shares during the period. Sequoia Financial Advisors LLC raised its holdings in shares of TE Connectivity by 108.9% in the first quarter. Sequoia Financial Advisors LLC now owns 3,336 shares of the electronics maker’s stock valued at $437,000 after buying an additional 1,739 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of TE Connectivity by 1.1% during the first quarter. Vanguard Group Inc. now owns 27,621,186 shares of the electronics maker’s stock worth $3,617,824,000 after buying an additional 308,580 shares during the period. Hedge funds and other institutional investors own 90.75% of the company’s stock.

TE Connectivity Price Performance

TE Connectivity stock opened at $144.05 on Friday. The firm has a market capitalization of $44.77 billion, a PE ratio of 13.67, a P/E/G ratio of 2.04 and a beta of 1.41. TE Connectivity Ltd. has a 52 week low of $115.00 and a 52 week high of $146.84. The firm’s 50-day simple moving average is $137.76 and its 200 day simple moving average is $131.55. The company has a quick ratio of 1.16, a current ratio of 1.86 and a debt-to-equity ratio of 0.27.

TE Connectivity (NYSE:TELGet Free Report) last released its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.13. TE Connectivity had a return on equity of 18.93% and a net margin of 20.69%. The company had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.87 billion. During the same period in the previous year, the firm posted $1.53 earnings per share. The business’s revenue for the quarter was down .3% compared to the same quarter last year. On average, equities research analysts predict that TE Connectivity Ltd. will post 7.55 EPS for the current fiscal year.

TE Connectivity declared that its board has authorized a stock buyback plan on Tuesday, December 12th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the electronics maker to reacquire up to 3.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Steven T. Merkt sold 99,777 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $144.00, for a total value of $14,367,888.00. Following the transaction, the insider now directly owns 30,459 shares of the company’s stock, valued at approximately $4,386,096. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.86% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Truist Financial upped their price objective on TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Wells Fargo & Company assumed coverage on TE Connectivity in a research note on Friday, December 15th. They set an “equal weight” rating and a $144.00 price target for the company. StockNews.com upgraded shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Stifel Nicolaus upped their price objective on shares of TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Finally, Citigroup started coverage on TE Connectivity in a research note on Friday, January 5th. They set a “neutral” rating and a $146.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $146.67.

View Our Latest Report on TEL

About TE Connectivity

(Free Report)

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.

See Also

Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

Receive News & Ratings for TE Connectivity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TE Connectivity and related companies with MarketBeat.com's FREE daily email newsletter.