Golden State Wealth Management LLC Buys New Position in TE Connectivity Ltd. (NYSE:TEL)

Golden State Wealth Management LLC bought a new stake in shares of TE Connectivity Ltd. (NYSE:TEL) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 304 shares of the electronics maker’s stock, valued at approximately $44,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pinnacle Bancorp Inc. bought a new position in shares of TE Connectivity during the fourth quarter valued at approximately $26,000. Armstrong Advisory Group Inc. raised its holdings in shares of TE Connectivity by 208.3% during the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock valued at $34,000 after acquiring an additional 150 shares in the last quarter. Wolff Wiese Magana LLC raised its holdings in shares of TE Connectivity by 2,450.0% during the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock valued at $39,000 after acquiring an additional 245 shares in the last quarter. Hilltop National Bank bought a new position in shares of TE Connectivity during the fourth quarter valued at approximately $55,000. Finally, Webster Bank N. A. bought a new position in shares of TE Connectivity during the fourth quarter valued at approximately $61,000. Institutional investors own 91.43% of the company’s stock.

Insider Activity at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $151.13, for a total transaction of $587,744.57. Following the sale, the insider now directly owns 25,976 shares of the company’s stock, valued at $3,925,752.88. This trade represents a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.90% of the stock is currently owned by insiders.

TE Connectivity Trading Down 0.6 %

NYSE TEL opened at $148.82 on Wednesday. TE Connectivity Ltd. has a 12 month low of $137.61 and a 12 month high of $159.98. The stock has a market cap of $44.40 billion, a P/E ratio of 23.77, a P/E/G ratio of 2.01 and a beta of 1.32. The stock’s fifty day moving average price is $146.96 and its 200-day moving average price is $148.26. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 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 analysts’ expectations of $3.92 billion. During the same period last year, the firm posted $1.84 earnings per share. TE Connectivity’s revenue was up .1% compared to the same quarter last year. As a group, equities analysts forecast that TE Connectivity Ltd. will post 7.95 EPS for the current fiscal year.

TE Connectivity declared that its board has authorized a share repurchase plan on Wednesday, October 30th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the electronics maker to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. 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. Truist Financial reduced their price target 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. Hsbc Global Res raised TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Citigroup upped their price target on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Finally, StockNews.com cut TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $167.00.

About TE Connectivity

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.