TE Connectivity Ltd. (NYSE:TEL) Stock Holdings Trimmed by Legato Capital Management LLC

Legato Capital Management LLC reduced its position in TE Connectivity Ltd. (NYSE:TEL) by 53.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,976 shares of the electronics maker’s stock after selling 12,395 shares during the quarter. Legato Capital Management LLC’s holdings in TE Connectivity were worth $1,569,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TEL. Pinnacle Bancorp Inc. bought a new stake in TE Connectivity in the fourth quarter valued at about $26,000. Armstrong Advisory Group Inc. increased its holdings in TE Connectivity by 208.3% in the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock valued at $34,000 after buying an additional 150 shares during the last quarter. Wolff Wiese Magana LLC increased its holdings in TE Connectivity by 2,450.0% in the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock valued at $39,000 after buying an additional 245 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in TE Connectivity in the fourth quarter valued at about $44,000. Finally, Hilltop National Bank bought a new stake in TE Connectivity in the fourth quarter valued at about $55,000. 91.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction 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 sale, the insider now owns 25,976 shares in the company, valued at approximately $3,925,752.88. This represents a 13.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. StockNews.com lowered TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Tuesday. HSBC raised TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price for the company in a report on Thursday, January 23rd. Truist Financial lowered their target price on TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Bank of America boosted their price objective on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Finally, Robert W. Baird boosted their price objective on TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, TE Connectivity currently has a consensus rating of “Hold” and an average target price of $167.00.

TE Connectivity Stock Performance

TEL opened at $148.82 on Wednesday. The company has a market capitalization of $44.40 billion, a price-to-earnings ratio of 23.77, a price-to-earnings-growth ratio of 2.01 and a beta of 1.32. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. TE Connectivity Ltd. has a 1-year low of $137.61 and a 1-year high of $159.98. The business has a 50 day moving average price of $146.90 and a two-hundred day moving average price of $148.21.

TE Connectivity (NYSE:TEL) last released 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. The firm had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.84 earnings per share. Research analysts predict that TE Connectivity Ltd. will post 7.95 EPS for the current fiscal year.

TE Connectivity announced that its Board of Directors has approved a share repurchase plan on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the electronics maker to reacquire up to 5.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

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.