Los Angeles Capital Management LLC Has $36.84 Million Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Los Angeles Capital Management LLC lowered its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 6.6% in the fourth quarter, HoldingsChannel reports. The fund owned 257,672 shares of the electronics maker’s stock after selling 18,176 shares during the period. Los Angeles Capital Management LLC’s holdings in TE Connectivity were worth $36,839,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Private Advisor Group LLC boosted its holdings in TE Connectivity by 3.3% during the third quarter. Private Advisor Group LLC now owns 16,062 shares of the electronics maker’s stock worth $2,425,000 after purchasing an additional 513 shares during the last quarter. International Assets Investment Management LLC bought a new stake in TE Connectivity during the 3rd quarter worth about $17,235,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of TE Connectivity by 141.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,846 shares of the electronics maker’s stock worth $5,874,000 after buying an additional 22,748 shares during the last quarter. Arkadios Wealth Advisors bought a new position in shares of TE Connectivity in the 3rd quarter valued at about $758,000. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of TE Connectivity by 13.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 33,516 shares of the electronics maker’s stock valued at $5,061,000 after acquiring an additional 4,012 shares during the last quarter. 91.43% of the stock is owned by institutional investors.

TE Connectivity Stock Performance

Shares of TEL stock opened at $151.98 on Wednesday. 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 $45.34 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 2.11 and a beta of 1.32. The company has a 50-day simple moving average of $147.35 and a 200 day simple moving average of $148.61. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68.

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

TE Connectivity announced that its Board of Directors has authorized a stock repurchase program on Wednesday, October 30th that allows the company to repurchase $2.50 billion in 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 often a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TEL. Robert W. Baird increased their price target on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Wells Fargo & Company increased their price objective on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Truist Financial cut their price target on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Finally, 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. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $167.00.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity stock in a transaction on Monday, January 27th. The stock was sold at an average price of $151.13, for a total transaction of $587,744.57. Following the completion of the sale, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,925,752.88. This trade represents a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.90% of the company’s stock.

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.