Bright Futures Wealth Management LLC. Sells 80 Shares of TE Connectivity Ltd. (NYSE:TEL)

Bright Futures Wealth Management LLC. trimmed its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 3.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,100 shares of the electronics maker’s stock after selling 80 shares during the period. Bright Futures Wealth Management LLC.’s holdings in TE Connectivity were worth $310,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Nomura Asset Management Co. Ltd. boosted its position in 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 valued at $36,732,000 after acquiring an additional 9,670 shares in the last quarter. Glenmede Trust Co. NA lifted its holdings in shares of TE Connectivity by 13.9% during the third quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker’s stock valued at $29,322,000 after purchasing an additional 23,755 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings 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 last quarter. Waverton Investment Management Ltd lifted its holdings in shares of TE Connectivity by 8.2% during the third quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker’s stock valued at $213,089,000 after purchasing an additional 106,688 shares during the last quarter. Finally, Meyer Handelman Co. lifted its holdings in shares of TE Connectivity by 9.9% during the fourth quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker’s stock valued at $14,531,000 after purchasing an additional 9,175 shares during the last quarter. 91.43% of the stock is owned by institutional investors.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the business’s stock in a transaction on Monday, January 27th. The shares were 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 directly owns 25,976 shares in the company, valued at approximately $3,925,752.88. The trade was a 13.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.90% of the company’s stock.

TE Connectivity Price Performance

Shares of NYSE TEL opened at $153.27 on Friday. The firm has a market cap of $45.73 billion, a P/E ratio of 24.48, a PEG ratio of 2.01 and a beta of 1.32. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The company has a 50 day moving average of $146.76 and a 200 day moving average of $148.19. TE Connectivity Ltd. has a twelve month low of $137.61 and a twelve month high of $159.98.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. The business had revenue of $3.84 billion during 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%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.84 EPS. As a group, research analysts expect 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 share repurchase plan 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 plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Robert W. Baird lifted their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Truist Financial lowered their target price 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. Citigroup lifted their target price on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Wells Fargo & Company lifted their target price on shares of TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Finally, StockNews.com lowered shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, TE Connectivity presently has an average rating of “Hold” and a consensus target price of $167.00.

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.