First Affirmative Financial Network Boosts Holdings in TE Connectivity Ltd. (NYSE:TEL)

First Affirmative Financial Network increased its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 5.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,996 shares of the electronics maker’s stock after purchasing an additional 158 shares during the period. First Affirmative Financial Network’s holdings in TE Connectivity were worth $428,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Baader Bank Aktiengesellschaft acquired a new stake in shares of TE Connectivity in the fourth quarter valued at about $211,000. Foster & Motley Inc. grew its holdings in shares of TE Connectivity by 8.8% in the 4th quarter. Foster & Motley Inc. now owns 19,547 shares of the electronics maker’s stock worth $2,795,000 after acquiring an additional 1,581 shares during the period. Field & Main Bank acquired a new position in TE Connectivity during the fourth quarter worth $141,000. Forsta AP Fonden boosted its position in TE Connectivity by 47.6% during the fourth quarter. Forsta AP Fonden now owns 113,800 shares of the electronics maker’s stock worth $16,270,000 after purchasing an additional 36,700 shares in the last quarter. Finally, Asset Dedication LLC increased its position in shares of TE Connectivity by 440.0% in the fourth quarter. Asset Dedication LLC now owns 486 shares of the electronics maker’s stock valued at $69,000 after buying an additional 396 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Down 0.6 %

TEL stock opened at $147.54 on Thursday. The company has a market capitalization of $44.04 billion, a P/E ratio of 23.57, a PEG ratio of 2.12 and a beta of 1.32. The firm has a 50 day simple moving average of $147.69 and a 200-day simple moving average of $148.76. The company has a current ratio of 1.68, a quick ratio of 1.08 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a twelve month low of $137.61 and a twelve month high of $159.98.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 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 during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the previous year, the company posted $1.84 earnings per share. The firm’s revenue was up .1% on a year-over-year basis. On average, equities research analysts predict that TE Connectivity Ltd. will post 8.1 earnings per share for the current fiscal year.

TE Connectivity announced that its Board of Directors has approved a stock repurchase program on Wednesday, October 30th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the electronics maker to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the company’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 completion of the sale, the insider now owns 25,976 shares of the company’s stock, valued at $3,925,752.88. This represents a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.86% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

TEL has been the topic of several analyst reports. Bank of America raised their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. StockNews.com raised TE Connectivity from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. Wells Fargo & Company lifted their price objective on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Finally, Truist Financial decreased their price target on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $167.00.

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.