TE Connectivity Ltd. (NYSE:TEL) Shares Purchased by Truvestments Capital LLC

Truvestments Capital LLC boosted its stake in TE Connectivity Ltd. (NYSE:TEL) by 15.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,112 shares of the electronics maker’s stock after purchasing an additional 149 shares during the period. Truvestments Capital LLC’s holdings in TE Connectivity were worth $159,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. acquired a new stake in TE Connectivity in the 4th quarter valued at $26,000. SRS Capital Advisors Inc. grew its stake in shares of TE Connectivity by 117.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock valued at $28,000 after acquiring an additional 107 shares in the last quarter. Fairway Wealth LLC acquired a new stake in shares of TE Connectivity during the fourth quarter valued at about $43,000. Golden State Wealth Management LLC acquired a new stake in shares of TE Connectivity during the fourth quarter valued at about $44,000. Finally, Hilltop National Bank acquired a new stake in shares of TE Connectivity during the fourth quarter valued at about $55,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Truist Financial lowered their target price on TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Robert W. Baird raised their target price on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” 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 target price for the company in a research note on Thursday, January 23rd. StockNews.com downgraded TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. Finally, Citigroup lifted their price target on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $167.00.

TE Connectivity Stock Performance

Shares of NYSE TEL opened at $143.09 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The firm’s 50-day moving average price is $148.44 and its two-hundred day moving average price is $148.62. TE Connectivity Ltd. has a 52-week low of $137.61 and a 52-week high of $159.98. The stock has a market capitalization of $42.69 billion, a P/E ratio of 22.86, a P/E/G ratio of 2.11 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter last year, the company posted $1.84 earnings per share. TE Connectivity’s revenue was up .1% on a year-over-year basis. As a group, sell-side analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

Insiders Place Their Bets

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total value of $3,669,250.00. Following the transaction, the insider now owns 25,976 shares of the company’s stock, valued at $3,812,497.52. This trade represents a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.90% of the stock is currently owned by corporate 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.