985 Shares in TE Connectivity Ltd. (NYSE:TEL) Bought by Field & Main Bank

Field & Main Bank purchased a new stake in shares of TE Connectivity Ltd. (NYSE:TEL) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 985 shares of the electronics maker’s stock, valued at approximately $141,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Optas LLC increased its stake in TE Connectivity by 4.2% in the third quarter. Optas LLC now owns 1,778 shares of the electronics maker’s stock valued at $268,000 after purchasing an additional 71 shares in the last quarter. OLD National Bancorp IN increased its position in TE Connectivity by 3.6% in the 3rd quarter. OLD National Bancorp IN now owns 2,478 shares of the electronics maker’s stock valued at $374,000 after buying an additional 85 shares in the last quarter. Metis Global Partners LLC boosted its holdings in TE Connectivity by 1.0% in the third quarter. Metis Global Partners LLC now owns 9,771 shares of the electronics maker’s stock worth $1,475,000 after acquiring an additional 96 shares in the last quarter. Insigneo Advisory Services LLC lifted its holdings in shares of TE Connectivity by 2.4% in the 3rd quarter. Insigneo Advisory Services LLC now owns 4,530 shares of the electronics maker’s stock worth $684,000 after purchasing an additional 108 shares in the last quarter. Finally, Concurrent Investment Advisors LLC grew its holdings in shares of TE Connectivity by 6.4% during the third quarter. Concurrent Investment Advisors LLC now owns 1,956 shares of the electronics maker’s stock valued at $295,000 after buying an additional 117 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. StockNews.com upgraded TE Connectivity from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. Truist Financial lowered their target price on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Wells Fargo & Company raised 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. Citigroup increased their price objective on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Finally, Hsbc Global Res raised TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, TE Connectivity has an average rating of “Moderate Buy” and a consensus target price of $167.00.

Insider Activity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $151.13, for a total value of $587,744.57. Following the sale, the insider now owns 25,976 shares in the company, 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 document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.90% of the company’s stock.

TE Connectivity Price Performance

TEL opened at $148.97 on Wednesday. The stock’s 50 day moving average price is $147.69 and its 200-day moving average price is $148.76. TE Connectivity Ltd. has a 52-week low of $137.61 and a 52-week high of $159.98. The stock has a market capitalization of $44.45 billion, a PE ratio of 23.79, 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 quick ratio of 1.08 and a current ratio of 1.68.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping 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 firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the prior year, the business earned $1.84 EPS. The business’s revenue for the quarter was up .1% on a year-over-year basis. On average, equities research analysts predict that TE Connectivity Ltd. will post 8.1 EPS for the current year.

TE Connectivity declared that its Board of Directors has authorized a stock repurchase 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 reacquire up to 5.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are 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.