Cambiar Investors LLC Lowers Holdings in TE Connectivity Ltd. (NYSE:TEL)

Cambiar Investors LLC decreased its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 8.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 339,434 shares of the electronics maker’s stock after selling 29,613 shares during the quarter. TE Connectivity comprises about 1.9% of Cambiar Investors LLC’s investment portfolio, making the stock its 19th biggest holding. Cambiar Investors LLC’s holdings in TE Connectivity were worth $48,529,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Pinnacle Bancorp Inc. bought a new stake in shares of TE Connectivity in the 4th quarter worth $26,000. Armstrong Advisory Group Inc. increased its holdings in shares of TE Connectivity by 208.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 150 shares in the last quarter. Wolff Wiese Magana LLC increased its holdings in shares of TE Connectivity by 2,450.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after purchasing an additional 245 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in shares of TE Connectivity in the 4th quarter worth $44,000. Finally, Hilltop National Bank bought a new stake in shares of TE Connectivity in the 4th quarter worth $55,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. HSBC raised 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. Truist Financial cut their price objective on TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Hsbc Global Res raised TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. StockNews.com raised TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 18th. Finally, Bank of America lifted their price objective on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned 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 a consensus target price of $167.00.

TE Connectivity Price Performance

NYSE TEL opened at $149.71 on Tuesday. The company has a market capitalization of $44.66 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 2.01 and a beta of 1.32. 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 business’s fifty day moving average is $147.05 and its 200 day moving average is $148.29. TE Connectivity Ltd. has a fifty-two week low of $137.61 and a fifty-two week high of $159.98.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. The firm had revenue of $3.84 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.84 earnings per share. Sell-side analysts predict that TE Connectivity Ltd. will post 7.95 earnings per share for the current year.

TE Connectivity declared that its board has authorized a share repurchase program on Wednesday, October 30th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the electronics maker to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the company’s stock in a transaction dated 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.90% of the company’s stock.

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.