Greenleaf Trust Takes $1.37 Million Position in TE Connectivity Ltd. (NYSE:TEL)

Greenleaf Trust bought a new position in TE Connectivity Ltd. (NYSE:TEL) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 9,606 shares of the electronics maker’s stock, valued at approximately $1,373,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Spire Wealth Management increased its position in TE Connectivity by 1,156.7% during the fourth quarter. Spire Wealth Management now owns 842 shares of the electronics maker’s stock worth $120,000 after buying an additional 775 shares during the period. OLD National Bancorp IN boosted its position in TE Connectivity by 31.8% during the fourth quarter. OLD National Bancorp IN now owns 3,265 shares of the electronics maker’s stock worth $467,000 after purchasing an additional 787 shares in the last quarter. First Affirmative Financial Network boosted its position in TE Connectivity by 5.6% during the fourth quarter. First Affirmative Financial Network now owns 2,996 shares of the electronics maker’s stock worth $428,000 after purchasing an additional 158 shares in the last quarter. Baader Bank Aktiengesellschaft acquired a new stake in shares of TE Connectivity during the fourth quarter valued at $211,000. Finally, Foster & Motley Inc. boosted its stake in TE Connectivity by 8.8% in the 4th quarter. Foster & Motley Inc. now owns 19,547 shares of the electronics maker’s stock worth $2,795,000 after buying an additional 1,581 shares during the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the company’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 value of $587,744.57. Following the completion of the transaction, the insider now owns 25,976 shares of the company’s stock, valued at $3,925,752.88. This represents a 13.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.90% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Robert W. Baird raised their price objective on TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. StockNews.com upgraded TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. Bank of America boosted their price objective 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 on the stock in a research note on Thursday, January 23rd. Finally, Truist Financial cut their target price on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, TE Connectivity presently has an average rating of “Moderate Buy” and an average target price of $167.00.

TE Connectivity Stock Performance

TEL opened at $145.17 on Tuesday. The company has a market cap of $43.31 billion, a PE ratio of 23.19, a price-to-earnings-growth ratio of 2.03 and a beta of 1.32. The stock has a 50-day moving average of $147.58 and a 200-day moving average of $148.57. 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.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The company had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the prior year, the company posted $1.84 EPS. The firm’s revenue was up .1% on a year-over-year basis. As a group, equities research analysts forecast that TE Connectivity Ltd. will post 7.96 earnings per share for the current fiscal year.

TE Connectivity announced 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 purchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are generally an indication 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.