Deseret Mutual Benefit Administrators Invests $57,000 in TE Connectivity Ltd. (NYSE:TEL)

Deseret Mutual Benefit Administrators bought a new position in TE Connectivity Ltd. (NYSE:TEL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 402 shares of the electronics maker’s stock, valued at approximately $57,000.

Several other hedge funds and other institutional investors also recently modified their holdings of TEL. Nordea Investment Management AB bought a new stake in shares of TE Connectivity in the 4th quarter worth about $149,211,000. Sumitomo Mitsui Trust Group Inc. increased its position in shares of TE Connectivity by 2,330.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 753,572 shares of the electronics maker’s stock worth $107,738,000 after purchasing an additional 722,565 shares during the last quarter. Franklin Resources Inc. increased its position 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 worth $445,603,000 after purchasing an additional 712,228 shares during the last quarter. EdgePoint Investment Group Inc. increased its position in shares of TE Connectivity by 26.0% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock worth $508,481,000 after purchasing an additional 694,917 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new stake in shares of TE Connectivity in the 4th quarter worth about $46,675,000. Institutional investors own 91.43% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on TEL. Bank of America boosted their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Wells Fargo & Company boosted their price objective 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. HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective for the company in a research report on Thursday, January 23rd. StockNews.com raised shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Finally, Truist Financial lowered their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $167.00.

Insider Transactions at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $151.13, for a total value of $587,744.57. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.90% of the company’s stock.

TE Connectivity Price Performance

NYSE TEL opened at $154.55 on Friday. TE Connectivity Ltd. has a 52 week low of $137.61 and a 52 week high of $159.98. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The stock has a market cap of $46.11 billion, a price-to-earnings ratio of 24.69, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. The company has a 50-day moving average price of $147.20 and a two-hundred day moving average price of $148.44.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping the consensus estimate of $1.89 by $0.06. The firm had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. TE Connectivity’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.84 EPS. Analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity announced that its Board of Directors has authorized a share repurchase program on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the electronics maker to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

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.