Nelson Capital Management LLC Buys Shares of 15,084 TE Connectivity Ltd. (NYSE:TEL)

Nelson Capital Management LLC bought a new position in TE Connectivity Ltd. (NYSE:TEL) during the 4th quarter, Holdings Channel reports. The institutional investor bought 15,084 shares of the electronics maker’s stock, valued at approximately $2,157,000.

Other large investors have also added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. increased its position in TE Connectivity by 4.1% during the third 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 during the last quarter. Glenmede Trust Co. NA lifted its stake in shares of TE Connectivity by 13.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker’s stock worth $29,322,000 after purchasing an additional 23,755 shares during the period. Venturi Wealth Management LLC grew its position in 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 buying an additional 6,169 shares during the period. Waverton Investment Management Ltd grew its position in 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 buying an additional 106,688 shares during the period. Finally, Central Pacific Bank Trust Division purchased a new stake in TE Connectivity during the fourth quarter valued at approximately $2,920,000. Institutional investors own 91.43% of the company’s stock.

Insider Activity at TE Connectivity

In other TE Connectivity 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 value 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.90% of the stock is owned by company insiders.

TE Connectivity Stock Down 0.8 %

Shares of TE Connectivity stock opened at $151.98 on Wednesday. TE Connectivity Ltd. has a 52-week low of $137.61 and a 52-week high of $159.98. The firm’s 50 day moving average price is $147.35 and its 200-day moving average price is $148.61. 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 market cap of $45.34 billion, a P/E ratio of 24.28, a PEG ratio of 2.11 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 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 analyst estimates of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.84 EPS. On average, sell-side analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TEL. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Truist Financial dropped 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. Bank of America raised their price target on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. HSBC raised 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. Finally, Wells Fargo & Company boosted their price target on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, TE Connectivity currently has an average rating of “Moderate Buy” and an average target price of $167.00.

TE Connectivity Company 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.