Callan Family Office LLC Acquires New Stake in TE Connectivity Ltd. (NYSE:TEL)

Callan Family Office LLC acquired a new stake in shares of TE Connectivity Ltd. (NYSE:TEL) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 10,019 shares of the electronics maker’s stock, valued at approximately $1,432,000.

Several other hedge funds have also added to or reduced their stakes in TEL. Pinnacle Bancorp Inc. purchased a new position in shares of TE Connectivity in the 4th quarter worth about $26,000. SRS Capital Advisors Inc. grew its position in TE Connectivity by 117.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 107 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in TE Connectivity during the 4th quarter valued at about $44,000. Hilltop National Bank purchased a new stake in TE Connectivity during the 4th quarter valued at about $55,000. Finally, Deseret Mutual Benefit Administrators purchased a new stake in TE Connectivity during the 4th quarter valued at about $57,000. 91.43% of the stock is owned by institutional investors.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the sale, the insider now directly owns 25,976 shares of the company’s stock, valued at $3,812,497.52. This trade represents a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.90% of the company’s stock.

TE Connectivity Stock Up 2.4 %

NYSE TEL opened at $150.90 on Friday. The stock’s 50-day moving average price is $148.30 and its 200-day moving average price is $148.77. 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 Ltd. has a 52 week low of $137.61 and a 52 week high of $159.98. The company has a market capitalization of $45.02 billion, a P/E ratio of 24.10, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. The business had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company’s revenue was up .1% on a year-over-year basis. During the same period in the prior year, the business posted $1.84 earnings per share. On average, equities research analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TEL. Truist Financial lowered their price objective on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Bank of America upped their price objective on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective for the company in a report on Thursday, January 23rd. Finally, StockNews.com downgraded shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price 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.