TE Connectivity Ltd. (NYSE:TEL) Stock Position Lowered by Impax Asset Management Group plc

Impax Asset Management Group plc decreased its position in TE Connectivity Ltd. (NYSE:TEL) by 8.9% in the fourth quarter, Holdings Channel reports. The firm owned 3,166,828 shares of the electronics maker’s stock after selling 310,112 shares during the period. TE Connectivity accounts for 2.0% of Impax Asset Management Group plc’s investment portfolio, making the stock its 8th largest holding. Impax Asset Management Group plc’s holdings in TE Connectivity were worth $452,024,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of TEL. RWC Asset Management LLP bought a new position in shares of TE Connectivity during the 4th quarter worth $18,702,000. Waverton Investment Management Ltd lifted its stake in TE Connectivity by 4.7% in the fourth quarter. Waverton Investment Management Ltd now owns 1,477,981 shares of the electronics maker’s stock worth $211,373,000 after acquiring an additional 66,933 shares during the period. Y Intercept Hong Kong Ltd grew its holdings in TE Connectivity by 42.9% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 4,006 shares of the electronics maker’s stock worth $573,000 after acquiring an additional 1,202 shares in the last quarter. Ascent Wealth Partners LLC increased its position in TE Connectivity by 1.0% during the 4th quarter. Ascent Wealth Partners LLC now owns 8,610 shares of the electronics maker’s stock valued at $1,231,000 after purchasing an additional 85 shares during the period. Finally, MONECO Advisors LLC raised its holdings in shares of TE Connectivity by 33.2% in the 4th quarter. MONECO Advisors LLC now owns 2,570 shares of the electronics maker’s stock valued at $367,000 after purchasing an additional 641 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

Insider Buying and Selling

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the 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 transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,925,752.88. This represents a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.90% of the stock is currently owned by company insiders.

TE Connectivity Stock Performance

TEL opened at $154.55 on Monday. The firm’s 50-day moving average price is $147.20 and its 200-day moving average price is $148.48. The company has a market cap of $46.11 billion, a P/E ratio of 24.69, a price-to-earnings-growth 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 Ltd. has a 52-week low of $137.61 and a 52-week high of $159.98.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the prior year, the business posted $1.84 EPS. TE Connectivity’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, equities analysts anticipate 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 stock buyback program on Wednesday, October 30th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the electronics maker to buy up to 5.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

TEL has been the topic of a number of recent research reports. StockNews.com upgraded shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 19th. Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Truist Financial decreased their price objective on TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company 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 note on Thursday, January 23rd. Finally, Wells Fargo & Company increased their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, TE Connectivity currently has an average rating of “Moderate Buy” and an average 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.