Vest Financial LLC Buys 377 Shares of TE Connectivity Ltd. (NYSE:TEL)

Vest Financial LLC increased its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 9.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,258 shares of the electronics maker’s stock after purchasing an additional 377 shares during the quarter. Vest Financial LLC’s holdings in TE Connectivity were worth $609,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of TEL. Nomura Asset Management Co. Ltd. boosted its stake in shares of TE Connectivity by 4.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker’s stock worth $36,732,000 after purchasing an additional 9,670 shares during the period. Glenmede Trust Co. NA raised its holdings in shares of TE Connectivity by 13.9% in the third quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker’s stock worth $29,322,000 after buying an additional 23,755 shares during the period. Venturi Wealth Management LLC boosted its stake in shares of TE Connectivity by 1,632.0% during the third quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker’s stock valued at $989,000 after purchasing an additional 6,169 shares during the period. Waverton Investment Management Ltd grew its holdings in shares of TE Connectivity by 8.2% in the third quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker’s stock worth $213,089,000 after purchasing an additional 106,688 shares during the last quarter. Finally, Meyer Handelman Co. lifted its holdings in TE Connectivity by 9.9% during the 4th quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker’s stock valued at $14,531,000 after buying an additional 9,175 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Trading Up 0.3 %

TEL stock opened at $146.95 on Monday. The firm has a market cap of $43.84 billion, a P/E ratio of 23.47, a PEG ratio of 2.01 and a beta of 1.32. The company’s 50-day simple moving average is $147.05 and its 200-day simple moving average is $148.35. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a 52-week low of $137.61 and a 52-week high of $159.98.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the prior year, the firm earned $1.84 earnings per share. The business’s revenue was up .1% compared to the same quarter last year. As a group, equities analysts forecast that TE Connectivity Ltd. will post 7.95 EPS for the current fiscal year.

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

Insiders Place Their Bets

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the business’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 transaction, the insider now directly owns 25,976 shares in the company, valued at $3,925,752.88. The trade was a 13.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TEL. Wells Fargo & Company raised their target price on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” 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 target price for the company in a report on Thursday, January 23rd. Robert W. Baird increased their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Truist Financial reduced their price target on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Finally, Bank of America boosted their price objective 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. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, TE Connectivity presently has a consensus rating of “Moderate Buy” and an average price target of $167.00.

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.