Amalgamated Bank Lowers Position in TE Connectivity Ltd. (NYSE:TEL)

Amalgamated Bank lessened its holdings in TE Connectivity Ltd. (NYSE:TEL) by 4.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 41,715 shares of the electronics maker’s stock after selling 2,030 shares during the period. Amalgamated Bank’s holdings in TE Connectivity were worth $5,964,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Pinnacle Bancorp Inc. bought a new stake in TE Connectivity during the 4th quarter valued at $26,000. Golden State Wealth Management LLC purchased a new stake in shares of TE Connectivity during the 4th quarter worth $44,000. Hilltop National Bank bought a new stake in TE Connectivity during the fourth quarter valued at about $55,000. Deseret Mutual Benefit Administrators purchased a new position in TE Connectivity in the fourth quarter valued at about $57,000. Finally, Webster Bank N. A. purchased a new position in TE Connectivity in the fourth quarter valued at about $61,000. 91.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TEL. Wells Fargo & Company raised their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. HSBC raised TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target on the stock in a research report on Thursday, January 23rd. Truist Financial lowered their price objective on TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Finally, Bank of America upped their target price on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Seven 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. Based on data from MarketBeat.com, TE Connectivity presently has an average rating of “Moderate Buy” and a consensus price target of $167.00.

TE Connectivity Stock Performance

Shares of NYSE TEL opened at $152.63 on Thursday. The stock has a market cap of $45.54 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a 12 month low of $137.61 and a 12 month high of $159.98. The company has a 50 day simple moving average of $147.50 and a two-hundred day simple moving average of $148.63. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26.

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 the consensus estimate of $1.89 by $0.06. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm’s revenue was up .1% on a year-over-year basis. During the same period in the prior year, the company earned $1.84 earnings per share. As a group, analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity announced that its board has approved a stock buyback plan on Wednesday, October 30th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the electronics maker to buy up to 5.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the business’s stock in a transaction that occurred on 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 transaction, 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 legal filing with the SEC, which can be accessed through this link. 0.90% of the stock is owned by corporate insiders.

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.