Econ Financial Services Corp Has $1.45 Million Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Econ Financial Services Corp raised its position in TE Connectivity Ltd. (NYSE:TEL) by 4.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,129 shares of the electronics maker’s stock after acquiring an additional 438 shares during the period. Econ Financial Services Corp’s holdings in TE Connectivity were worth $1,448,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. State Street Corp lifted its position in TE Connectivity by 2.1% in the third quarter. State Street Corp now owns 12,852,607 shares of the electronics maker’s stock worth $1,940,615,000 after purchasing an additional 268,837 shares during the period. Geode Capital Management LLC raised its stake in shares of TE Connectivity by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker’s stock valued at $899,681,000 after buying an additional 75,658 shares in the last quarter. EdgePoint Investment Group Inc. lifted its holdings in shares of TE Connectivity by 26.0% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock worth $508,481,000 after acquiring an additional 694,917 shares during the period. Franklin Resources Inc. increased its stake in TE Connectivity by 31.1% in the third quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock valued at $445,603,000 after acquiring an additional 712,228 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in TE Connectivity by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,762,099 shares of the electronics maker’s stock worth $266,059,000 after purchasing an additional 9,864 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TEL. Truist Financial lowered their price objective 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. Bank of America upped their price target on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. HSBC raised TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective for the company in a report on Thursday, January 23rd. Citigroup upped their target price on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Finally, StockNews.com raised shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 18th. Seven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $167.00.

Insider Transactions at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $151.13, for a total transaction of $587,744.57. Following the completion of the sale, the insider now directly owns 25,976 shares of the company’s stock, valued at $3,925,752.88. The trade was a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.90% of the stock is currently owned by corporate insiders.

TE Connectivity Trading Down 0.2 %

Shares of NYSE TEL opened at $144.75 on Wednesday. TE Connectivity Ltd. has a 1-year low of $137.61 and a 1-year high of $159.98. The company has a 50-day moving average of $147.33 and a two-hundred day moving average of $148.45. The company has a market cap of $43.19 billion, a PE ratio of 23.12, a P/E/G ratio of 2.03 and a beta of 1.32. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26.

TE Connectivity (NYSE:TEL) last issued 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. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same quarter last year, the business posted $1.84 earnings per share. TE Connectivity’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, equities analysts expect that TE Connectivity Ltd. will post 7.96 earnings per share for the current fiscal year.

TE Connectivity declared that its board has authorized a stock repurchase plan on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

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.