Nelson Capital Management LLC Invests $2.16 Million in TE Connectivity Ltd. (NYSE:TEL)

Nelson Capital Management LLC acquired a new stake in TE Connectivity Ltd. (NYSE:TEL) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 15,084 shares of the electronics maker’s stock, valued at approximately $2,157,000.

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

Wall Street Analyst Weigh In

TEL has been the subject of several analyst reports. Citigroup raised their price target on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Robert W. Baird raised their price target on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective on the stock in a research report on Thursday, January 23rd. Truist Financial cut their price target on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Finally, StockNews.com upgraded shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 19th. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $167.00.

Insider Activity

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 shares were 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 directly owns 25,976 shares in the company, valued at $3,925,752.88. This trade represents a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.90% of the company’s stock.

TE Connectivity Stock Down 0.8 %

Shares of NYSE TEL opened at $151.98 on Wednesday. The firm’s fifty day moving average is $147.35 and its 200 day moving average is $148.61. TE Connectivity Ltd. has a 52 week low of $137.61 and a 52 week high of $159.98. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The company has a market cap of $45.34 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 2.11 and a beta of 1.32.

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. The firm had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.84 earnings per share. On average, equities research analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity announced that its Board of Directors has authorized a stock buyback plan on Wednesday, October 30th that permits the company to buyback $2.50 billion in 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 usually 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.