Savant Capital LLC Sells 976 Shares of TE Connectivity Ltd. (NYSE:TEL)

Savant Capital LLC trimmed its stake in TE Connectivity Ltd. (NYSE:TEL) by 6.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,690 shares of the electronics maker’s stock after selling 976 shares during the period. Savant Capital LLC’s holdings in TE Connectivity were worth $2,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB purchased a new stake in shares of TE Connectivity in the 4th quarter worth $149,211,000. Sumitomo Mitsui Trust Group Inc. increased its position in TE Connectivity by 2,330.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 753,572 shares of the electronics maker’s stock valued at $107,738,000 after purchasing an additional 722,565 shares during the period. Franklin Resources Inc. raised its holdings in shares of TE Connectivity by 31.1% in the 3rd quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock valued at $445,603,000 after purchasing an additional 712,228 shares in the last quarter. EdgePoint Investment Group Inc. lifted its holdings in TE Connectivity by 26.0% during the third quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock worth $508,481,000 after buying an additional 694,917 shares during the period. Finally, State Street Corp boosted its position in TE Connectivity by 2.1% during the 3rd quarter. State Street Corp now owns 12,852,607 shares of the electronics maker’s stock valued at $1,940,615,000 after acquiring an additional 268,837 shares in the last quarter. 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 company’s stock in a transaction dated 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 transaction, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,925,752.88. This represents a 13.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on TEL. Wells Fargo & Company boosted their price target on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Bank of America increased their price objective on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. StockNews.com lowered TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target on the stock in a research note on Thursday, January 23rd. Finally, Truist Financial dropped 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. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, TE Connectivity presently has an average rating of “Hold” and an average price target of $167.00.

TE Connectivity Trading Down 1.6 %

NYSE TEL opened at $146.51 on Thursday. The company has a fifty day moving average of $146.90 and a 200 day moving average of $148.21. The company has a market capitalization of $43.71 billion, a PE ratio of 23.40, a P/E/G ratio of 2.01 and a beta of 1.32. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. TE Connectivity Ltd. has a 1 year low of $137.61 and a 1 year high of $159.98.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.84 earnings per share. Research analysts forecast that TE Connectivity Ltd. will post 7.95 earnings per share for the current year.

TE Connectivity announced that its board has initiated a share repurchase plan on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

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.