Los Angeles Capital Management LLC Sells 18,176 Shares of TE Connectivity Ltd. (NYSE:TEL)

Los Angeles Capital Management LLC lessened its stake in TE Connectivity Ltd. (NYSE:TEL) by 6.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 257,672 shares of the electronics maker’s stock after selling 18,176 shares during the quarter. Los Angeles Capital Management LLC owned about 0.09% of TE Connectivity worth $36,839,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp grew its stake in shares of TE Connectivity by 15.0% during the fourth quarter. Bank of New York Mellon Corp now owns 3,749,622 shares of the electronics maker’s stock valued at $536,083,000 after purchasing an additional 488,680 shares during the last quarter. RWC Asset Management LLP acquired a new position in TE Connectivity during the 4th quarter worth $18,702,000. Waverton Investment Management Ltd boosted its position in TE Connectivity by 4.7% in the 4th quarter. Waverton Investment Management Ltd now owns 1,477,981 shares of the electronics maker’s stock valued at $211,373,000 after buying an additional 66,933 shares during the last quarter. Y Intercept Hong Kong Ltd increased its stake in shares of TE Connectivity by 42.9% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 4,006 shares of the electronics maker’s stock valued at $573,000 after buying an additional 1,202 shares during the period. Finally, Ascent Wealth Partners LLC raised its position in shares of TE Connectivity by 1.0% during the fourth quarter. Ascent Wealth Partners LLC now owns 8,610 shares of the electronics maker’s stock worth $1,231,000 after acquiring an additional 85 shares during the last quarter. 91.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target on the stock in a report on Thursday, January 23rd. Robert W. Baird lifted their price target on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. 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 report on Thursday, January 23rd. 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 note on Thursday, January 23rd. Finally, Citigroup upped their target price on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, TE Connectivity presently has an average rating of “Moderate Buy” and a consensus target price of $167.00.

TE Connectivity Price Performance

Shares of TEL stock opened at $151.98 on Wednesday. The firm has a market capitalization of $45.34 billion, a price-to-earnings ratio of 24.28, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-month 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 firm has a fifty day moving average of $147.35 and a 200-day moving average of $148.61.

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, beating analysts’ consensus estimates of $1.89 by $0.06. The firm had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The company’s revenue was up .1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.84 earnings per share. On average, equities research analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity declared that its Board of Directors has authorized a share buyback program on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the electronics maker to purchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 25,976 shares in the company, valued at $3,925,752.88. This represents a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is owned by company insiders.

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.