Kovitz Investment Group Partners LLC Has $1.07 Million Holdings in TE Connectivity Ltd. (NYSE:TEL)

Kovitz Investment Group Partners LLC lowered its holdings in TE Connectivity Ltd. (NYSE:TELFree Report) by 3.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,695 shares of the electronics maker’s stock after selling 350 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in TE Connectivity were worth $1,074,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Cibc World Market Inc. lifted its position in shares of TE Connectivity by 63.8% during the first quarter. Cibc World Market Inc. now owns 11,366 shares of the electronics maker’s stock worth $1,489,000 after purchasing an additional 4,427 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of TE Connectivity by 16.2% during the first quarter. Cetera Investment Advisers now owns 25,817 shares of the electronics maker’s stock worth $3,382,000 after purchasing an additional 3,598 shares in the last quarter. Dakota Wealth Management lifted its position in shares of TE Connectivity by 23.0% during the first quarter. Dakota Wealth Management now owns 4,259 shares of the electronics maker’s stock worth $558,000 after purchasing an additional 797 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in TE Connectivity by 108.9% in the first quarter. Sequoia Financial Advisors LLC now owns 3,336 shares of the electronics maker’s stock valued at $437,000 after acquiring an additional 1,739 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in TE Connectivity by 1.1% in the first quarter. Vanguard Group Inc. now owns 27,621,186 shares of the electronics maker’s stock valued at $3,617,824,000 after acquiring an additional 308,580 shares during the last quarter. Institutional investors own 90.75% of the company’s stock.

TE Connectivity Stock Up 0.7 %

Shares of NYSE TEL opened at $144.05 on Monday. The firm has a market cap of $44.77 billion, a PE ratio of 13.67, a P/E/G ratio of 2.06 and a beta of 1.41. TE Connectivity Ltd. has a 12-month low of $115.00 and a 12-month high of $146.84. The company’s fifty day simple moving average is $137.76 and its 200 day simple moving average is $131.39. The company has a quick ratio of 1.16, a current ratio of 1.86 and a debt-to-equity ratio of 0.27.

TE Connectivity (NYSE:TELGet Free Report) last released its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.13. The firm had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.87 billion. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the firm earned $1.53 earnings per share. As a group, sell-side analysts forecast that TE Connectivity Ltd. will post 7.55 earnings per share for the current fiscal year.

TE Connectivity declared that its board has approved a share repurchase plan on Tuesday, December 12th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the electronics maker to purchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Steven T. Merkt sold 99,777 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $144.00, for a total transaction of $14,367,888.00. Following the completion of the sale, the insider now owns 30,459 shares in the company, valued at $4,386,096. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.86% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TEL. StockNews.com raised shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Citigroup assumed coverage on shares of TE Connectivity in a research report on Friday, January 5th. They set a “neutral” rating and a $146.00 price target on the stock. Wells Fargo & Company assumed coverage on shares of TE Connectivity in a research report on Friday, December 15th. They set an “equal weight” rating and a $144.00 price target on the stock. Stifel Nicolaus lifted their price target on shares of TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Finally, Truist Financial lifted their price target on shares of TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, TE Connectivity currently has an average rating of “Moderate Buy” and an average price target of $146.67.

Get Our Latest Report on TE Connectivity

TE Connectivity Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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