Atlantic Union Bankshares Corp Buys 5,315 Shares of TE Connectivity Ltd. (NYSE:TEL)

Atlantic Union Bankshares Corp lifted its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 239.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,535 shares of the electronics maker’s stock after purchasing an additional 5,315 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in TE Connectivity were worth $1,077,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Amundi bought a new stake in shares of TE Connectivity during the 4th quarter valued at $159,992,000. Dorsey & Whitney Trust CO LLC grew its position in TE Connectivity by 52.4% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 2,480 shares of the electronics maker’s stock worth $355,000 after buying an additional 853 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its position in TE Connectivity by 238.0% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 646,692 shares of the electronics maker’s stock worth $98,979,000 after buying an additional 455,379 shares in the last quarter. Berkshire Asset Management LLC PA purchased a new position in TE Connectivity during the fourth quarter worth about $39,091,000. Finally, Ashton Thomas Private Wealth LLC grew its position in TE Connectivity by 9.9% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 14,602 shares of the electronics maker’s stock worth $2,088,000 after buying an additional 1,312 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on TEL. Citigroup boosted their target price on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Wells Fargo & Company boosted their target price on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Bank of America upped their price objective on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Finally, StockNews.com cut TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $167.00.

TE Connectivity Trading Up 2.4 %

Shares of TEL stock opened at $150.90 on Friday. The stock has a market capitalization of $45.02 billion, a PE ratio of 24.10, a P/E/G ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a 1-year low of $137.61 and a 1-year high of $159.98. The business has a 50-day moving average of $148.30 and a 200 day moving average of $148.77. 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 (NYSE:TEL) last issued its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.06. The company had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. TE Connectivity’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.84 EPS. As a group, sell-side analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the completion of the transaction, the insider now owns 25,976 shares of the company’s stock, valued at $3,812,497.52. This represents a 49.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, 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.