Foster & Motley Inc. Has $2.80 Million Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Foster & Motley Inc. grew its position in TE Connectivity Ltd. (NYSE:TEL) by 8.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,547 shares of the electronics maker’s stock after buying an additional 1,581 shares during the quarter. Foster & Motley Inc.’s holdings in TE Connectivity were worth $2,795,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Pinnacle Bancorp Inc. acquired a new stake in shares of TE Connectivity during the fourth quarter worth approximately $26,000. Armstrong Advisory Group Inc. boosted its holdings in shares of TE Connectivity by 208.3% during the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 150 shares during the period. Wolff Wiese Magana LLC boosted its holdings in shares of TE Connectivity by 2,450.0% during the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after purchasing an additional 245 shares during the period. Hilltop National Bank acquired a new stake in shares of TE Connectivity during the fourth quarter worth approximately $55,000. Finally, Webster Bank N. A. acquired a new stake in shares of TE Connectivity during the fourth quarter worth approximately $61,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the business’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $151.13, for a total transaction of $587,744.57. Following the transaction, the insider now 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 is available through this hyperlink. 0.86% of the stock is currently owned by insiders.

TE Connectivity Trading Up 1.4 %

NYSE:TEL opened at $149.81 on Friday. TE Connectivity Ltd. has a 12 month low of $137.61 and a 12 month high of $159.98. The firm has a market cap of $44.71 billion, a price-to-earnings ratio of 23.93, a P/E/G ratio of 2.12 and a beta of 1.32. The company has a quick ratio of 1.08, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The company’s 50 day moving average is $147.68 and its 200-day moving average is $148.75.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the previous year, the firm posted $1.84 earnings per share. TE Connectivity’s revenue was up .1% compared to the same quarter last year. Equities analysts anticipate that TE Connectivity Ltd. will post 8.1 EPS for the current year.

TE Connectivity announced that its board has authorized a share buyback program on Wednesday, October 30th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the electronics maker to reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts recently commented on TEL shares. Citigroup raised their price target on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Bank of America raised their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Robert W. Baird raised their price objective on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Wells Fargo & Company raised their price objective on shares of TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. Finally, Truist Financial cut their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Seven equities 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $167.00.

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.