TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Mill Creek Capital Advisors LLC

Mill Creek Capital Advisors LLC reduced its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 29.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,776 shares of the electronics maker’s stock after selling 1,607 shares during the period. Mill Creek Capital Advisors LLC’s holdings in TE Connectivity were worth $540,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TEL. Pinnacle Bancorp Inc. purchased a new stake in TE Connectivity in the 4th quarter worth approximately $26,000. Armstrong Advisory Group Inc. increased its stake 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 purchasing an additional 150 shares during the last quarter. Wolff Wiese Magana LLC lifted its position in 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 buying an additional 245 shares during the period. Golden State Wealth Management LLC purchased a new stake in TE Connectivity in the 4th quarter valued at about $44,000. Finally, Hilltop National Bank acquired a new position in shares of TE Connectivity during the 4th quarter valued at about $55,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Price Performance

Shares of NYSE TEL opened at $149.71 on Tuesday. The business has a 50 day moving average price of $147.05 and a two-hundred day moving average price of $148.29. TE Connectivity Ltd. has a fifty-two week low of $137.61 and a fifty-two week high of $159.98. The firm has a market cap of $44.66 billion, a PE ratio of 23.91, a price-to-earnings-growth 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 (NYSE:TEL) last posted its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.06. The firm had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the company posted $1.84 earnings per share. Sell-side analysts expect that TE Connectivity Ltd. will post 7.95 earnings per share for the current fiscal year.

TE Connectivity announced that its Board of Directors 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 repurchase up to 5.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was 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 directly owns 25,976 shares in the company, valued at approximately $3,925,752.88. The trade was a 13.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

TEL has been the subject of several research analyst reports. HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target for the company in a research report on Thursday, January 23rd. Bank of America upped their price target on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Hsbc Global Res raised TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Citigroup raised their price target on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Finally, Robert W. Baird boosted their price objective on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $167.00.

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.