Manchester Capital Management LLC Buys 204 Shares of TE Connectivity Ltd. (NYSE:TEL)

Manchester Capital Management LLC grew its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 10.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 2,184 shares of the electronics maker’s stock after acquiring an additional 204 shares during the quarter. Manchester Capital Management LLC’s holdings in TE Connectivity were worth $312,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Pinnacle Bancorp Inc. bought a new stake in shares of TE Connectivity during the 4th quarter valued at $26,000. Golden State Wealth Management LLC bought a new stake in shares of TE Connectivity during the 4th quarter valued at $44,000. Hilltop National Bank bought a new stake in shares of TE Connectivity during the 4th quarter valued at $55,000. Webster Bank N. A. bought a new stake in shares of TE Connectivity during the 4th quarter worth $61,000. Finally, Vestor Capital LLC bought a new stake in shares of TE Connectivity during the 3rd quarter worth $66,000. 91.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was 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 owns 25,976 shares of the company’s stock, valued at $3,925,752.88. This trade 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 at the SEC website. 0.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TEL. Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. 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 report on Thursday, January 23rd. StockNews.com downgraded TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 11th. Truist Financial dropped their price objective on TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Finally, Robert W. Baird upped their price objective on TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $167.00.

TE Connectivity Trading Down 0.2 %

Shares of TEL stock opened at $152.87 on Friday. The stock has a market cap of $45.61 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 2.01 and a beta of 1.32. The stock has a 50-day moving average of $146.79 and a 200-day moving average of $148.21. 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 Ltd. has a 1-year low of $137.61 and a 1-year high of $159.98.

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 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%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.84 earnings per share. On average, equities research analysts forecast that TE Connectivity Ltd. will post 7.95 earnings per share for the current year.

TE Connectivity announced that its board has approved a stock repurchase program on Wednesday, October 30th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the electronics maker to reacquire up to 5.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors 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.