Cerro Pacific Wealth Advisors LLC Purchases New Position in TE Connectivity Ltd. (NYSE:TEL)

Cerro Pacific Wealth Advisors LLC purchased a new position in shares of TE Connectivity Ltd. (NYSE:TEL) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,434 shares of the electronics maker’s stock, valued at approximately $216,000.

Several other institutional investors also recently bought and sold shares of the business. Galvin Gaustad & Stein LLC raised its position in TE Connectivity by 10.5% during the fourth quarter. Galvin Gaustad & Stein LLC now owns 5,265 shares of the electronics maker’s stock worth $753,000 after acquiring an additional 501 shares during the period. Mutual Advisors LLC increased its stake in shares of TE Connectivity by 23.6% during the fourth quarter. Mutual Advisors LLC now owns 3,692 shares of the electronics maker’s stock worth $531,000 after purchasing an additional 704 shares in the last quarter. SG Americas Securities LLC purchased a new position in TE Connectivity in the 4th quarter valued at about $779,000. Dakota Wealth Management lifted its stake in TE Connectivity by 5.5% in the 4th quarter. Dakota Wealth Management now owns 14,347 shares of the electronics maker’s stock valued at $2,051,000 after buying an additional 748 shares in the last quarter. Finally, Ballentine Partners LLC increased its stake in TE Connectivity by 2.6% during the 4th quarter. Ballentine Partners LLC now owns 4,907 shares of the electronics maker’s stock worth $702,000 after buying an additional 125 shares in the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Robert W. Baird raised their target price on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research report on Thursday. Truist Financial lowered their target price on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research note on Thursday. Citigroup increased their target price on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday. StockNews.com upgraded shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company upped their price objective on shares of TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday. Seven equities research 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $165.00.

TE Connectivity Price Performance

TEL stock opened at $156.73 on Friday. TE Connectivity Ltd. has a 52-week low of $137.61 and a 52-week high of $159.98. The company has a quick ratio of 1.08, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The stock has a market cap of $46.78 billion, a price-to-earnings ratio of 25.04, a price-to-earnings-growth ratio of 2.12 and a beta of 1.32. The business has a fifty day moving average of $147.43 and a two-hundred day moving average of $148.80.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data 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 firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3,916,310.63 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. TE Connectivity’s revenue was up .1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.84 EPS. As a group, research analysts anticipate that TE Connectivity Ltd. will post 8.1 earnings per share for the current year.

TE Connectivity announced that its board has authorized a stock buyback plan on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the electronics maker to buy up to 5.4% of its stock through open market purchases. Stock repurchase plans are often 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.