Newman Dignan & Sheerar Inc. Has $200,000 Holdings in TE Connectivity Ltd. (NYSE:TEL)

Newman Dignan & Sheerar Inc. lessened its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 10.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,400 shares of the electronics maker’s stock after selling 165 shares during the period. Newman Dignan & Sheerar Inc.’s holdings in TE Connectivity were worth $200,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Nomura Asset Management Co. Ltd. lifted its holdings in shares of 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 worth $36,732,000 after acquiring an additional 9,670 shares during the period. Glenmede Trust Co. NA lifted its holdings in shares of TE Connectivity by 13.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker’s stock worth $29,322,000 after acquiring an additional 23,755 shares during the period. Venturi Wealth Management LLC lifted its holdings in shares of TE Connectivity by 1,632.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker’s stock worth $989,000 after acquiring an additional 6,169 shares during the period. Waverton Investment Management Ltd lifted its holdings in shares of TE Connectivity by 8.2% during the 3rd quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker’s stock worth $213,089,000 after acquiring an additional 106,688 shares during the period. Finally, Meyer Handelman Co. lifted its holdings in shares of TE Connectivity by 9.9% during the 4th quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker’s stock worth $14,531,000 after acquiring an additional 9,175 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.

Insider Activity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the 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 $3,925,752.88. This represents a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.90% of the company’s stock.

TE Connectivity Price Performance

TEL stock opened at $152.87 on Friday. The company has a fifty day moving average price of $146.79 and a 200-day moving average price of $148.21. The company has a market capitalization of $45.61 billion, a P/E ratio of 24.42, a PEG ratio of 2.01 and a beta of 1.32. 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, beating the consensus estimate of $1.89 by $0.06. The firm had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the firm earned $1.84 earnings per share. As a group, equities analysts expect that TE Connectivity Ltd. will post 7.95 EPS for the current year.

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TEL. Truist Financial cut their price target 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. HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective for the company in a research note on Thursday, January 23rd. Bank of America increased their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” 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. Finally, Robert W. Baird increased their price objective on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target 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.