Matrix Asset Advisors Inc. NY Sells 1,094 Shares of TE Connectivity Ltd. (NYSE:TEL)

Matrix Asset Advisors Inc. NY lessened its position in TE Connectivity Ltd. (NYSE:TEL) by 1.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 92,655 shares of the electronics maker’s stock after selling 1,094 shares during the period. TE Connectivity comprises 1.4% of Matrix Asset Advisors Inc. NY’s investment portfolio, making the stock its 29th largest holding. Matrix Asset Advisors Inc. NY’s holdings in TE Connectivity were worth $13,247,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Pinnacle Bancorp Inc. purchased a new stake in shares of TE Connectivity in the fourth quarter worth approximately $26,000. Armstrong Advisory Group Inc. grew its position in TE Connectivity by 208.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock valued at $34,000 after acquiring an additional 150 shares during the last quarter. Wolff Wiese Magana LLC increased its stake in TE Connectivity by 2,450.0% in the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after purchasing an additional 245 shares during the period. Hilltop National Bank bought a new stake in shares of TE Connectivity during the fourth quarter worth $55,000. Finally, Webster Bank N. A. purchased a new stake in shares of TE Connectivity during the fourth quarter valued at $61,000. Institutional investors own 91.43% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wells Fargo & Company raised their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 23rd. HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target for the company in a research note on Thursday, January 23rd. Truist Financial dropped their price objective 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. The Goldman Sachs Group decreased their target price on TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Finally, Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $167.00.

Insider Transactions at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the firm’s 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 completion of the sale, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,925,752.88. This trade represents a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.86% of the company’s stock.

TE Connectivity Price Performance

TEL opened at $150.08 on Tuesday. The firm has a market capitalization of $44.79 billion, a PE ratio of 23.97, a price-to-earnings-growth ratio of 2.12 and a beta of 1.32. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.08. The business’s 50-day moving average is $147.62 and its two-hundred day moving average is $148.84. TE Connectivity Ltd. has a 1 year low of $137.61 and a 1 year high of $159.98.

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, topping analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3,916,310.63 billion. During the same quarter in the previous year, the firm earned $1.84 EPS. The company’s quarterly revenue was up .1% compared to the same quarter last year. Research analysts anticipate that TE Connectivity Ltd. will post 8.1 earnings per share for the current fiscal year.

TE Connectivity announced that its board has approved a share repurchase program on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the electronics maker to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

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.