Pathstone Family Office LLC Raises Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Pathstone Family Office LLC boosted its stake in TE Connectivity Ltd. (NYSE:TELFree Report) by 59.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,672 shares of the electronics maker’s stock after purchasing an additional 6,937 shares during the quarter. Pathstone Family Office LLC’s holdings in TE Connectivity were worth $2,335,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in TEL. Vanguard Personalized Indexing Management LLC grew its stake in TE Connectivity by 9.9% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 16,938 shares of the electronics maker’s stock worth $2,092,000 after acquiring an additional 1,525 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of TE Connectivity by 3.4% in the third quarter. Van ECK Associates Corp now owns 40,518 shares of the electronics maker’s stock worth $5,005,000 after buying an additional 1,342 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of TE Connectivity by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,672,298 shares of the electronics maker’s stock worth $206,579,000 after acquiring an additional 12,111 shares during the period. D.A. Davidson & CO. grew its position in TE Connectivity by 2.0% during the third quarter. D.A. Davidson & CO. now owns 16,604 shares of the electronics maker’s stock valued at $2,051,000 after buying an additional 330 shares during the period. Finally, Blueshift Asset Management LLC acquired a new stake in TE Connectivity during the third quarter valued at $343,000. 90.75% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on TEL. Citigroup assumed coverage on shares of TE Connectivity in a research note on Friday, January 5th. They issued a “neutral” rating and a $146.00 price target on the stock. Wells Fargo & Company began coverage on shares of TE Connectivity in a report 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, Truist Financial upped their price target on shares of TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $146.67.

View Our Latest Stock Analysis on TE Connectivity

TE Connectivity Stock Performance

TEL stock opened at $144.05 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.16 and a current ratio of 1.86. The stock has a market capitalization of $44.77 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 2.06 and a beta of 1.41. TE Connectivity Ltd. has a 1 year low of $115.00 and a 1 year high of $146.84. The stock’s fifty day moving average is $137.76 and its two-hundred day moving average is $131.48.

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

TE Connectivity declared that its board has approved a share repurchase program on Tuesday, December 12th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the electronics maker to buy up to 3.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $144.00, for a total value of $14,367,888.00. Following the sale, the insider now directly owns 30,459 shares in the company, valued at $4,386,096. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.86% of the stock is owned by company insiders.

TE Connectivity Profile

(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.

Further Reading

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

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