Berkshire Asset Management LLC PA Takes $39.09 Million Position in TE Connectivity Ltd. (NYSE:TEL)

Berkshire Asset Management LLC PA acquired a new stake in shares of TE Connectivity Ltd. (NYSE:TEL) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 252,707 shares of the electronics maker’s stock, valued at approximately $39,091,000. TE Connectivity makes up about 1.9% of Berkshire Asset Management LLC PA’s portfolio, making the stock its 18th largest holding.

Other hedge funds have also recently made changes to their positions in the company. Modera Wealth Management LLC increased its position in TE Connectivity by 2.8% during the fourth quarter. Modera Wealth Management LLC now owns 2,861 shares of the electronics maker’s stock valued at $409,000 after acquiring an additional 78 shares during the last quarter. Ascent Wealth Partners LLC lifted its position in shares of TE Connectivity by 1.0% during the fourth quarter. Ascent Wealth Partners LLC now owns 8,610 shares of the electronics maker’s stock valued at $1,231,000 after buying an additional 85 shares during the last quarter. Metis Global Partners LLC lifted its position in shares of TE Connectivity by 1.0% during the third quarter. Metis Global Partners LLC now owns 9,771 shares of the electronics maker’s stock valued at $1,475,000 after buying an additional 96 shares during the last quarter. Callan Capital LLC raised its position in shares of TE Connectivity by 5.4% in the 4th quarter. Callan Capital LLC now owns 2,071 shares of the electronics maker’s stock valued at $296,000 after purchasing an additional 106 shares during the last quarter. Finally, SRS Capital Advisors Inc. raised its position in shares of TE Connectivity by 117.6% in 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. 91.43% of the stock is currently owned by institutional investors and hedge funds.

TE Connectivity Stock Down 2.3 %

NYSE:TEL opened at $147.24 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a 1-year low of $137.61 and a 1-year high of $159.98. The business’s fifty day moving average price is $148.18 and its 200 day moving average price is $148.77. The firm has a market capitalization of $43.93 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 2.11 and a beta of 1.32.

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

Analysts Set New Price Targets

TEL has been the subject of a number of recent research reports. Bank of America raised their price target 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. Truist Financial reduced their price target on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. StockNews.com downgraded TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. Robert W. Baird upped their price target on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Finally, HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective for the company in a research note on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $167.00.

Insider Transactions at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the completion of the sale, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,812,497.52. This trade represents a 49.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.90% of the stock is currently owned by insiders.

TE Connectivity Company 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.