First Horizon Advisors Inc. Buys 315 Shares of TE Connectivity Ltd. (NYSE:TEL)

First Horizon Advisors Inc. boosted its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 10.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,349 shares of the electronics maker’s stock after purchasing an additional 315 shares during the period. First Horizon Advisors Inc.’s holdings in TE Connectivity were worth $479,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Pinnacle Bancorp Inc. purchased a new stake in TE Connectivity during the 4th quarter valued at $26,000. Golden State Wealth Management LLC purchased a new stake in TE Connectivity during the 4th quarter valued at $44,000. Hilltop National Bank purchased a new stake in TE Connectivity during the 4th quarter valued at $55,000. Deseret Mutual Benefit Administrators purchased a new stake in TE Connectivity during the 4th quarter valued at $57,000. Finally, Webster Bank N. A. purchased a new stake in TE Connectivity during the 4th quarter valued at $61,000. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on TEL shares. Wells Fargo & Company increased their target price on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday, January 23rd. HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target on the stock in a research note on Thursday, January 23rd. Truist Financial dropped their price target on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Finally, Citigroup raised their price target on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Seven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $167.00.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity 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 sale, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,925,752.88. The trade was a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.90% of the company’s stock.

TE Connectivity Price Performance

Shares of TE Connectivity stock opened at $153.31 on Tuesday. TE Connectivity Ltd. has a one year low of $137.61 and a one year high of $159.98. The stock’s fifty day moving average is $147.27 and its 200 day moving average is $148.55. The stock has a market cap of $45.74 billion, a P/E ratio of 24.49, a P/E/G ratio of 2.11 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.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. The business had revenue of $3.84 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the firm earned $1.84 earnings per share. Sell-side analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity declared that its board has approved a stock buyback program 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 programs are usually an indication that the company’s management believes its stock is undervalued.

About TE Connectivity

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.