TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. cut its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 3.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,190 shares of the electronics maker’s stock after selling 1,275 shares during the quarter. Pacer Advisors Inc.’s holdings in TE Connectivity were worth $5,174,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TEL. Webster Bank N. A. purchased a new position in TE Connectivity in the fourth quarter valued at approximately $61,000. Blue Trust Inc. lifted its holdings in shares of TE Connectivity by 68.1% during the 4th quarter. Blue Trust Inc. now owns 2,915 shares of the electronics maker’s stock valued at $440,000 after acquiring an additional 1,181 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in TE Connectivity during the 4th quarter worth $353,000. Asio Capital LLC increased its holdings in TE Connectivity by 5.9% in the 4th quarter. Asio Capital LLC now owns 25,303 shares of the electronics maker’s stock valued at $3,618,000 after purchasing an additional 1,411 shares in the last quarter. Finally, First Citizens Bank & Trust Co. raised its position in TE Connectivity by 67.7% in the fourth quarter. First Citizens Bank & Trust Co. now owns 44,271 shares of the electronics maker’s stock valued at $6,329,000 after purchasing an additional 17,866 shares during the period. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TEL has been the subject of a number of recent research reports. StockNews.com upgraded TE Connectivity from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective on the stock in a research note on Thursday, January 23rd. Bank of America upped their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Citigroup boosted their price objective on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company upped their price objective on shares of TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $167.00.

TE Connectivity Stock Performance

Shares of TEL stock opened at $149.81 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.08 and a current ratio of 1.68. The stock has a market capitalization of $44.71 billion, a price-to-earnings ratio of 23.93, a PEG ratio of 2.12 and a beta of 1.32. TE Connectivity Ltd. has a one year low of $137.61 and a one year high of $159.98. The company’s 50-day simple moving average is $147.68 and its 200-day simple moving average is $148.75.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping the consensus estimate of $1.89 by $0.06. The company had revenue of $3.84 billion during 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 revenue was up .1% on a year-over-year basis. During the same quarter last year, the firm earned $1.84 EPS. Equities analysts anticipate that TE Connectivity Ltd. will post 8.1 earnings per share for the current fiscal year.

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

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $3,925,752.88. This trade represents a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.86% of the stock is owned by insiders.

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.