Lipe & Dalton Has $5.31 Million Holdings in TE Connectivity Ltd. (NYSE:TEL)

Lipe & Dalton boosted its stake in TE Connectivity Ltd. (NYSE:TEL) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,103 shares of the electronics maker’s stock after purchasing an additional 150 shares during the period. TE Connectivity comprises about 2.8% of Lipe & Dalton’s holdings, making the stock its 9th largest holding. Lipe & Dalton’s holdings in TE Connectivity were worth $5,305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in TEL. Pinnacle Bancorp Inc. acquired a new stake in shares of TE Connectivity during the fourth quarter worth $26,000. Golden State Wealth Management LLC bought a new position in shares of TE Connectivity in the fourth quarter valued at $44,000. Hilltop National Bank bought a new position in shares of TE Connectivity during the fourth quarter valued at about $55,000. Deseret Mutual Benefit Administrators bought a new position in shares of TE Connectivity during the fourth quarter valued at about $57,000. Finally, Webster Bank N. A. purchased a new stake in TE Connectivity during the fourth quarter worth about $61,000. Institutional investors own 91.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TEL shares. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price for the company in a research note on Thursday, January 23rd. Wells Fargo & Company lifted their target price 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. Truist Financial dropped their target price on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Bank of America boosted their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, Robert W. Baird upped their price target on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $167.00.

TE Connectivity Stock Down 0.8 %

Shares of TE Connectivity stock opened at $154.55 on Friday. 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 firm’s 50-day moving average is $147.20 and its two-hundred day moving average is $148.40. The stock has a market cap of $46.11 billion, a price-to-earnings ratio of 24.69, a PEG ratio of 2.11 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last released its quarterly 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 business had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company’s revenue was up .1% compared to the same quarter last year. During the same period last year, the business earned $1.84 EPS. As a group, research analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity announced that its board has approved a stock buyback program 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 programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $151.13, for a total transaction of $587,744.57. Following the sale, the insider now directly owns 25,976 shares in the company, valued at $3,925,752.88. This represents a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.90% of the stock is currently owned by corporate insiders.

About TE Connectivity

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.