Financiere des Professionnels Fonds d investissement inc. Cuts Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Financiere des Professionnels Fonds d investissement inc. lowered its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,457 shares of the electronics maker’s stock after selling 630 shares during the quarter. Financiere des Professionnels Fonds d investissement inc.’s holdings in TE Connectivity were worth $5,069,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of TEL. Exchange Traded Concepts LLC purchased a new stake in shares of TE Connectivity during the third quarter worth $235,000. Creative Planning increased its position in shares of TE Connectivity by 3.0% during the third quarter. Creative Planning now owns 42,019 shares of the electronics maker’s stock worth $6,345,000 after acquiring an additional 1,237 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of TE Connectivity by 0.7% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,705 shares of the electronics maker’s stock worth $4,787,000 after acquiring an additional 232 shares during the period. Net Worth Advisory Group acquired a new position in shares of TE Connectivity during the third quarter worth $305,000. Finally, Blue Trust Inc. grew its stake in shares of TE Connectivity by 147.7% during the third quarter. Blue Trust Inc. now owns 1,734 shares of the electronics maker’s stock worth $261,000 after purchasing an additional 1,034 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Insider Transactions at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction dated 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 owns 25,976 shares in the company, valued at approximately $3,925,752.88. This represents a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Robert W. Baird boosted their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. StockNews.com downgraded shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 11th. 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 research note on Thursday, January 23rd. Citigroup boosted their target price on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Finally, Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $167.00.

TE Connectivity Stock Performance

NYSE TEL opened at $152.87 on Monday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. TE Connectivity Ltd. has a 1 year low of $137.61 and a 1 year high of $159.98. The company has a market capitalization of $45.61 billion, a PE ratio of 24.42, a P/E/G ratio of 2.01 and a beta of 1.32. The company has a fifty day moving average of $146.79 and a two-hundred day moving average of $148.18.

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, topping the consensus estimate of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business 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 firm earned $1.84 earnings per share. The business’s quarterly revenue was up .1% compared to the same quarter last year. As a group, analysts expect that TE Connectivity Ltd. will post 7.95 earnings per share for the current year.

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