Kintegral Advisory LLC Lowers Position in TE Connectivity Ltd. (NYSE:TEL)

Kintegral Advisory LLC decreased its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 4.5% during the fourth quarter, Holdings Channel reports. The fund owned 26,716 shares of the electronics maker’s stock after selling 1,245 shares during the period. Kintegral Advisory LLC’s holdings in TE Connectivity were worth $3,820,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Optas LLC boosted its stake in shares of TE Connectivity by 4.2% in the 3rd quarter. Optas LLC now owns 1,778 shares of the electronics maker’s stock worth $268,000 after buying an additional 71 shares during the last quarter. Metis Global Partners LLC lifted its holdings in TE Connectivity by 1.0% in the third quarter. Metis Global Partners LLC now owns 9,771 shares of the electronics maker’s stock valued at $1,475,000 after acquiring an additional 96 shares during the period. Insigneo Advisory Services LLC boosted its position in TE Connectivity by 2.4% in the third quarter. Insigneo Advisory Services LLC now owns 4,530 shares of the electronics maker’s stock worth $684,000 after purchasing an additional 108 shares during the last quarter. Concurrent Investment Advisors LLC grew its stake in shares of TE Connectivity by 6.4% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 1,956 shares of the electronics maker’s stock valued at $295,000 after purchasing an additional 117 shares during the period. Finally, Cobblestone Capital Advisors LLC NY increased its position in shares of TE Connectivity by 6.6% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 1,941 shares of the electronics maker’s stock valued at $293,000 after purchasing an additional 120 shares during the last quarter. Institutional investors own 91.43% of the company’s stock.

Insider Activity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $151.13, for a total transaction of $587,744.57. Following the completion of the transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,925,752.88. This trade represents a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.90% of the company’s stock.

TE Connectivity Price Performance

NYSE:TEL opened at $154.55 on Friday. The business’s 50-day simple moving average is $147.20 and its two-hundred day simple moving average is $148.40. TE Connectivity Ltd. has a 52 week low of $137.61 and a 52 week high of $159.98. The stock has a market cap of $46.11 billion, a PE ratio of 24.69, a P/E/G ratio of 2.11 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 issued its 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. 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 for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter last year, the company earned $1.84 EPS. The firm’s quarterly revenue was up .1% on a year-over-year basis. As a group, analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity declared that its Board of Directors has authorized a share buyback plan on Wednesday, October 30th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the electronics maker to reacquire up to 5.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective on the stock in a report on Thursday, January 23rd. Citigroup lifted their price target on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Wells Fargo & Company upped their price objective on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 23rd. Bank of America lifted their target price on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Finally, Truist Financial cut their price target on TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Seven research 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.