WASHINGTON TRUST Co Has $6.71 Million Stock Position in TE Connectivity Ltd. (NYSE:TEL)

WASHINGTON TRUST Co lifted its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 4,785.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,902 shares of the electronics maker’s stock after purchasing an additional 45,942 shares during the quarter. WASHINGTON TRUST Co’s holdings in TE Connectivity were worth $6,706,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of TEL. Pinnacle Bancorp Inc. acquired a new stake in TE Connectivity in the 4th quarter valued at $26,000. Wolff Wiese Magana LLC boosted its stake in shares of TE Connectivity by 2,450.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock valued at $39,000 after purchasing an additional 245 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in shares of TE Connectivity in the 4th quarter worth about $44,000. Hilltop National Bank acquired a new stake in shares of TE Connectivity during the 4th quarter worth about $55,000. Finally, Webster Bank N. A. bought a new position in TE Connectivity during the 4th quarter valued at about $61,000. 91.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 25,976 shares in the company, valued at $3,925,752.88. This represents a 13.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.90% of the company’s stock.

TE Connectivity Stock Down 0.2 %

NYSE:TEL opened at $152.87 on Friday. The stock’s fifty day simple moving average is $146.78 and its 200-day simple moving average is $148.23. The firm has a market capitalization of $45.61 billion, a P/E ratio of 24.42, a P/E/G ratio of 2.01 and a beta of 1.32. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-month high of $159.98.

TE Connectivity (NYSE:TEL) last posted its earnings results 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. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The company had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the company earned $1.84 EPS. The company’s revenue for the quarter was up .1% compared to the same quarter last year. Equities research analysts expect that TE Connectivity Ltd. will post 7.95 earnings per share for the current year.

TE Connectivity announced that its board has approved 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 shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TEL. Robert W. Baird lifted their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research note 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 note on Thursday, January 23rd. Bank of America lifted their price target on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Finally, Wells Fargo & Company upped their target price on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, TE Connectivity currently has a consensus rating of “Hold” 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.