Apollon Wealth Management LLC Trims Stake in TE Connectivity Ltd. (NYSE:TEL)

Apollon Wealth Management LLC decreased its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 29.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,899 shares of the electronics maker’s stock after selling 2,447 shares during the period. Apollon Wealth Management LLC’s holdings in TE Connectivity were worth $843,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TEL. Pinnacle Bancorp Inc. purchased a new stake in shares of TE Connectivity in the 4th quarter worth approximately $26,000. Armstrong Advisory Group Inc. grew its stake in shares of TE Connectivity by 208.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after buying an additional 150 shares during the last quarter. Wolff Wiese Magana LLC grew its stake in shares of TE Connectivity by 2,450.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after buying an additional 245 shares during the last quarter. Golden State Wealth Management LLC bought a new position in TE Connectivity in the 4th quarter valued at approximately $44,000. Finally, Hilltop National Bank bought a new position in TE Connectivity in the 4th quarter valued at approximately $55,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Trading Down 0.6 %

Shares of TEL stock opened at $148.82 on Wednesday. The firm has a market capitalization of $44.40 billion, a PE ratio of 23.77, a PEG ratio of 2.01 and a beta of 1.32. The stock has a fifty day simple moving average of $146.96 and a two-hundred day simple moving average of $148.26. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. TE Connectivity Ltd. has a 52-week low of $137.61 and a 52-week high of $159.98.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data 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 firm 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 quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the business posted $1.84 earnings per share. On average, analysts predict that TE Connectivity Ltd. will post 7.95 EPS for the current fiscal year.

TE Connectivity declared that its Board of Directors has approved a share buyback plan on Wednesday, October 30th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the 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 transaction, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,925,752.88. This trade represents a 13.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Bank of America upped their price objective on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Wells Fargo & Company increased their price target on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Citigroup increased their price target on TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective for the company in a research note on Thursday, January 23rd. Finally, Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, TE Connectivity has a consensus rating of “Hold” and an average price target of $167.00.

TE Connectivity Company 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.