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

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 8.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,191 shares of the electronics maker’s stock after selling 881 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in TE Connectivity were worth $1,480,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC boosted its holdings in TE Connectivity by 97.8% in the fourth quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock valued at $26,000 after purchasing an additional 91 shares during the last quarter. Salem Investment Counselors Inc. lifted its holdings in TE Connectivity by 112.4% in the first quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock worth $27,000 after acquiring an additional 100 shares during the last quarter. Godsey & Gibb Inc. lifted its stake in TE Connectivity by 103.6% in the first quarter. Godsey & Gibb Inc. now owns 224 shares of the electronics maker’s stock valued at $33,000 after buying an additional 114 shares during the last quarter. Crewe Advisors LLC bought a new position in shares of TE Connectivity during the fourth quarter worth about $33,000. Finally, Sachetta LLC acquired a new stake in shares of TE Connectivity in the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Trading Up 1.2 %

Shares of NYSE:TEL traded up $1.84 during mid-day trading on Friday, hitting $156.38. The stock had a trading volume of 1,185,249 shares, compared to its average volume of 1,861,097. TE Connectivity Ltd. has a 12-month low of $115.00 and a 12-month high of $159.98. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.92 and a current ratio of 1.51. The company has a market cap of $47.89 billion, a PE ratio of 14.31, a P/E/G ratio of 2.13 and a beta of 1.33. The company’s 50 day moving average is $151.23 and its 200-day moving average is $145.19.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.05. The business had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.01 billion. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. TE Connectivity’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.77 earnings per share. On average, sell-side analysts predict that TE Connectivity Ltd. will post 7.55 EPS for the current year.

Insider Activity

In other TE Connectivity news, Director Mark Trudeau sold 7,044 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $141.49, for a total value of $996,655.56. Following the transaction, the director now owns 5,917 shares in the company, valued at approximately $837,196.33. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Aaron Kyle Stucki sold 8,750 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $155.00, for a total value of $1,356,250.00. Following the transaction, the insider now owns 20,556 shares in the company, valued at $3,186,180. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark Trudeau sold 7,044 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $141.49, for a total transaction of $996,655.56. Following the completion of the sale, the director now directly owns 5,917 shares of the company’s stock, valued at $837,196.33. The disclosure for this sale can be found here. Insiders have sold 20,794 shares of company stock worth $3,102,206 in the last 90 days. Company insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on TEL. Wells Fargo & Company decreased their target price on shares of TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 25th. Bank of America upped their price objective on shares of TE Connectivity from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Vertical Research assumed coverage on shares of TE Connectivity in a research note on Tuesday, July 23rd. They set a “hold” rating and a $155.00 target price on the stock. HSBC lowered shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price target for the company. in a research note on Wednesday. Finally, Hsbc Global Res upgraded TE Connectivity to a “hold” rating in a research report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $158.45.

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.