Kentucky Retirement Systems Insurance Trust Fund Boosts Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Kentucky Retirement Systems Insurance Trust Fund increased its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 61.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 14,533 shares of the electronics maker's stock after acquiring an additional 5,535 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in TE Connectivity were worth $2,078,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of TE Connectivity during the 4th quarter worth approximately $1,957,000. GAM Holding AG bought a new stake in shares of TE Connectivity during the 4th quarter worth approximately $8,681,000. Venturi Wealth Management LLC lifted its stake in shares of TE Connectivity by 80.6% during the 4th quarter. Venturi Wealth Management LLC now owns 11,821 shares of the electronics maker's stock worth $1,690,000 after acquiring an additional 5,274 shares during the last quarter. D.A. Davidson & CO. lifted its stake in shares of TE Connectivity by 1.2% during the 4th quarter. D.A. Davidson & CO. now owns 20,757 shares of the electronics maker's stock worth $2,968,000 after acquiring an additional 255 shares during the last quarter. Finally, Truist Financial Corp lifted its stake in shares of TE Connectivity by 32.8% during the 4th quarter. Truist Financial Corp now owns 129,461 shares of the electronics maker's stock worth $18,509,000 after acquiring an additional 31,991 shares during the last quarter. 91.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the business's 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 transaction, the insider now directly owns 25,976 shares in the company, valued at $3,925,752.88. The trade was a 13.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.90% of the stock is owned by company insiders.

TE Connectivity Stock Down 0.8 %

Shares of TEL traded down $1.23 during trading hours on Friday, hitting $154.55. The company had a trading volume of 1,577,354 shares, compared to its average volume of 1,636,413. The company has a market capitalization of $46.11 billion, a PE ratio of 24.69, a price-to-earnings-growth ratio of 2.12 and a beta of 1.32. 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 one year low of $137.61 and a one year high of $159.98. The company's fifty day moving average price is $147.11 and its two-hundred day moving average price is $148.32.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the previous year, the business earned $1.84 EPS. The firm's revenue for the quarter was up .1% on a year-over-year basis. As a group, equities analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share 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 buyback $2.50 billion in outstanding shares. This buyback authorization allows the electronics maker to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TEL. HSBC raised TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 target price for the company in a research report on Thursday, January 23rd. StockNews.com raised TE Connectivity from a "buy" rating to a "strong-buy" rating in a research report on Wednesday. Wells Fargo & Company lifted their target price on TE Connectivity from $151.00 to $155.00 and gave the company an "equal weight" rating in a research report on Thursday, January 23rd. Citigroup lifted their target price on TE Connectivity from $160.00 to $165.00 and gave the company a "neutral" rating in a research report on Wednesday, January 22nd. Finally, Truist Financial decreased their target price on 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 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 company currently has a consensus rating of "Moderate Buy" and an average price target of $167.00.

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.