TE Connectivity Ltd. (NYSE:TEL) Shares Sold by SeaBridge Investment Advisors LLC

SeaBridge Investment Advisors LLC decreased its holdings in TE Connectivity Ltd. (NYSE:TEL) by 4.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,073 shares of the electronics maker’s stock after selling 393 shares during the quarter. SeaBridge Investment Advisors LLC’s holdings in TE Connectivity were worth $1,297,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Nordea Investment Management AB purchased a new stake in TE Connectivity during the 4th quarter worth approximately $149,211,000. Franklin Resources Inc. boosted its stake in shares of TE Connectivity by 31.1% in the third quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock worth $445,603,000 after acquiring an additional 712,228 shares during the last quarter. EdgePoint Investment Group Inc. increased its position in shares of TE Connectivity by 26.0% during the third quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock worth $508,481,000 after purchasing an additional 694,917 shares in the last quarter. State Street Corp raised its stake in TE Connectivity by 2.1% in the 3rd quarter. State Street Corp now owns 12,852,607 shares of the electronics maker’s stock valued at $1,940,615,000 after purchasing an additional 268,837 shares during the last quarter. Finally, Mizuho Securities USA LLC lifted its holdings in TE Connectivity by 982.6% in the 3rd quarter. Mizuho Securities USA LLC now owns 255,659 shares of the electronics maker’s stock valued at $38,602,000 after purchasing an additional 232,044 shares in the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TEL. StockNews.com upgraded shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. Citigroup raised their target price on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Robert W. Baird upped their price target on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Truist Financial reduced their price objective on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Finally, Wells Fargo & Company upped their target price on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Seven investment 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 data from MarketBeat.com, TE Connectivity presently has an average rating of “Moderate Buy” and a consensus price target of $167.00.

Insider Transactions at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $3,925,752.88. This represents a 13.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.90% of the company’s stock.

TE Connectivity Price Performance

TEL stock opened at $148.05 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $44.17 billion, a P/E ratio of 23.65, a PEG ratio of 2.03 and a beta of 1.32. The business has a 50 day simple moving average of $147.58 and a 200-day simple moving average of $148.70. TE Connectivity Ltd. has a twelve month low of $137.61 and a twelve month 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 the consensus estimate of $1.89 by $0.06. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. TE Connectivity’s revenue for the quarter was up .1% on a year-over-year basis. During the same period last year, the firm posted $1.84 EPS. As a group, equities analysts anticipate that TE Connectivity Ltd. will post 7.96 EPS for the current year.

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