Kentucky Retirement Systems Insurance Trust Fund Acquires 5,535 Shares of TE Connectivity Ltd. (NYSE:TEL)

Kentucky Retirement Systems Insurance Trust Fund raised its holdings in TE Connectivity Ltd. (NYSE:TEL) by 61.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,533 shares of the electronics maker’s stock after purchasing 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 have also recently bought and sold shares of the business. Creative Planning raised its position in shares of TE Connectivity by 3.0% in the 3rd quarter. Creative Planning now owns 42,019 shares of the electronics maker’s stock valued at $6,345,000 after buying an additional 1,237 shares in the last quarter. Blue Trust Inc. raised its position in shares of TE Connectivity by 147.7% in the 3rd quarter. Blue Trust Inc. now owns 1,734 shares of the electronics maker’s stock valued at $261,000 after buying an additional 1,034 shares in the last quarter. OLD National Bancorp IN raised its position in shares of TE Connectivity by 3.6% in the 3rd quarter. OLD National Bancorp IN now owns 2,478 shares of the electronics maker’s stock valued at $374,000 after buying an additional 85 shares in the last quarter. Vest Financial LLC raised its position in shares of TE Connectivity by 92.7% in the 3rd quarter. Vest Financial LLC now owns 3,881 shares of the electronics maker’s stock valued at $586,000 after buying an additional 1,867 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of TE Connectivity by 49.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 67,351 shares of the electronics maker’s stock valued at $10,169,000 after buying an additional 22,164 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Citigroup boosted their target price on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Truist Financial dropped their target price 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. HSBC upgraded 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. Bank of America upped their price objective 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. Finally, Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $167.00.

Insider Activity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the company’s stock in a transaction 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 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.90% of the company’s stock.

TE Connectivity Trading Up 1.0 %

TEL opened at $154.37 on Wednesday. TE Connectivity Ltd. has a fifty-two week low of $137.61 and a fifty-two week high of $159.98. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. The firm has a market capitalization of $46.05 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 2.07 and a beta of 1.32. The company’s 50 day moving average price is $146.90 and its two-hundred day moving average price is $148.21.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the firm posted $1.84 EPS. The company’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, research analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity announced that its board has approved a share buyback plan on Wednesday, October 30th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the electronics maker to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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.