Madison Investment Advisors LLC Buys New Position in TE Connectivity Ltd. (NYSE:TEL)

Madison Investment Advisors LLC bought a new stake in shares of TE Connectivity Ltd. (NYSE:TEL) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 116,845 shares of the electronics maker’s stock, valued at approximately $16,705,000.

Several other hedge funds also recently modified their holdings of TEL. Verdence Capital Advisors LLC purchased a new position in shares of TE Connectivity during the third quarter valued at approximately $213,000. Assetmark Inc. lifted its holdings in TE Connectivity by 11.9% during the third quarter. Assetmark Inc. now owns 2,266 shares of the electronics maker’s stock worth $342,000 after acquiring an additional 241 shares during the period. Ashton Thomas Securities LLC bought a new stake in TE Connectivity during the third quarter worth $75,000. Nations Financial Group Inc. IA ADV lifted its holdings in TE Connectivity by 15.0% during the third quarter. Nations Financial Group Inc. IA ADV now owns 8,356 shares of the electronics maker’s stock worth $1,262,000 after acquiring an additional 1,089 shares during the period. Finally, Apollon Wealth Management LLC lifted its holdings in TE Connectivity by 2.7% during the third quarter. Apollon Wealth Management LLC now owns 8,346 shares of the electronics maker’s stock worth $1,260,000 after acquiring an additional 223 shares during the period. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Insider Buying and Selling

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $151.13, for a total transaction of $587,744.57. Following the completion of the transaction, the insider now directly owns 25,976 shares in the company, valued at $3,925,752.88. The trade was a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.90% of the stock is owned by company insiders.

TE Connectivity Stock Performance

NYSE:TEL opened at $143.09 on Thursday. 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 Ltd. has a 52-week low of $137.61 and a 52-week high of $159.98. The firm has a market cap of $42.69 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 2.11 and a beta of 1.32. The business’s fifty day moving average is $148.44 and its 200 day moving average is $148.62.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the company posted $1.84 EPS. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. Research analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on TEL. Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Bank of America lifted their price target on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a report 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 report on Thursday, January 23rd. Robert W. Baird boosted their target price on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Finally, StockNews.com lowered TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.