BDF Gestion Has $1.55 Million Stake in TE Connectivity Ltd. (NYSE:TEL)

BDF Gestion lowered its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 11.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 10,858 shares of the electronics maker’s stock after selling 1,411 shares during the quarter. BDF Gestion’s holdings in TE Connectivity were worth $1,552,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Algert Global LLC acquired a new position in shares of TE Connectivity in the 2nd quarter valued at approximately $496,000. Creative Planning raised its position in TE Connectivity by 2.4% during the second quarter. Creative Planning now owns 40,782 shares of the electronics maker’s stock valued at $6,135,000 after purchasing an additional 962 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of TE Connectivity by 113.3% in the 2nd quarter. NewEdge Advisors LLC now owns 30,001 shares of the electronics maker’s stock valued at $4,513,000 after purchasing an additional 15,934 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of TE Connectivity by 14.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,168 shares of the electronics maker’s stock valued at $1,228,000 after purchasing an additional 1,057 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its holdings in shares of TE Connectivity by 26.6% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 12,235 shares of the electronics maker’s stock worth $1,841,000 after buying an additional 2,570 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Up 1.4 %

TE Connectivity stock opened at $149.81 on Friday. The firm has a market cap of $44.70 billion, a price-to-earnings ratio of 23.93, a PEG ratio of 2.03 and a beta of 1.32. TE Connectivity Ltd. has a 52-week low of $137.61 and a 52-week high of $159.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The firm has a 50 day moving average price of $147.68 and a two-hundred day moving average price of $148.75.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.06. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. TE Connectivity’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.84 earnings per share. Equities analysts predict that TE Connectivity Ltd. will post 7.96 EPS for the current year.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price on the stock in a research report on Thursday, January 23rd. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. StockNews.com raised shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. Truist Financial dropped their price target on TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Finally, Bank of America upped their target price on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $167.00.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the 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 transaction, the insider now directly owns 25,976 shares in the company, valued at approximately $3,925,752.88. This represents a 13.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.90% of the stock is owned by corporate insiders.

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.