Deseret Mutual Benefit Administrators Takes $57,000 Position in TE Connectivity Ltd. (NYSE:TEL)

Deseret Mutual Benefit Administrators bought a new stake in TE Connectivity Ltd. (NYSE:TEL) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 402 shares of the electronics maker’s stock, valued at approximately $57,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pinnacle Bancorp Inc. purchased a new position in TE Connectivity during the fourth quarter worth about $26,000. Golden State Wealth Management LLC purchased a new position in TE Connectivity in the fourth quarter valued at about $44,000. Hilltop National Bank purchased a new position in TE Connectivity in the fourth quarter valued at about $55,000. Webster Bank N. A. purchased a new position in TE Connectivity in the fourth quarter valued at about $61,000. Finally, R Squared Ltd purchased a new position in TE Connectivity in the fourth quarter valued at about $64,000. 91.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other TE Connectivity 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 value of $587,744.57. Following the transaction, the insider now owns 25,976 shares in the company, valued at $3,925,752.88. The trade was a 13.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.90% of the stock is currently owned by company insiders.

TE Connectivity Stock Performance

NYSE:TEL opened at $154.55 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 firm has a market capitalization of $46.11 billion, a price-to-earnings ratio of 24.69, a PEG ratio of 2.11 and a beta of 1.32. The firm’s fifty day simple moving average is $147.20 and its 200 day simple moving average is $148.44. TE Connectivity Ltd. has a twelve month low of $137.61 and a twelve 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 for the quarter, beating the consensus estimate 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 business posted $1.84 EPS. The business’s quarterly revenue was up .1% on a year-over-year basis. As a group, equities research analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity declared that its Board of Directors has approved a share repurchase program on Wednesday, October 30th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the electronics maker to buy up to 5.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Truist Financial dropped their target price on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company 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. HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price for the company in a research note on Thursday, January 23rd. StockNews.com raised shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Finally, Citigroup boosted their price objective on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Seven analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.