TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System decreased its holdings in TE Connectivity Ltd. (NYSE:TEL) by 5.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,100 shares of the electronics maker’s stock after selling 1,000 shares during the quarter. Louisiana State Employees Retirement System’s holdings in TE Connectivity were worth $2,302,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. State Street Corp boosted its position in shares of TE Connectivity by 2.1% in the 3rd quarter. State Street Corp now owns 12,852,607 shares of the electronics maker’s stock worth $1,940,615,000 after purchasing an additional 268,837 shares in the last quarter. Geode Capital Management LLC raised its stake in TE Connectivity by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker’s stock worth $899,681,000 after acquiring an additional 75,658 shares during the last quarter. EdgePoint Investment Group Inc. raised its stake in TE Connectivity by 26.0% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock worth $508,481,000 after acquiring an additional 694,917 shares during the last quarter. Franklin Resources Inc. raised its stake in TE Connectivity by 31.1% in the 3rd quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock worth $445,603,000 after acquiring an additional 712,228 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in TE Connectivity by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,762,099 shares of the electronics maker’s stock worth $266,059,000 after acquiring an additional 9,864 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on TEL shares. StockNews.com lowered TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Bank of America raised their target price on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price on the stock in a research report on Thursday, January 23rd. Robert W. Baird raised their target price on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Finally, Citigroup raised 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. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from 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 3,889 shares of the business’s stock in a transaction that occurred 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 document filed with the SEC, which is available at this hyperlink. Insiders own 0.90% of the company’s stock.

TE Connectivity Trading Down 0.2 %

TEL stock opened at $152.87 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 12-month low of $137.61 and a 12-month high of $159.98. The stock has a market cap of $45.61 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 2.01 and a beta of 1.32. The business’s 50-day moving average is $146.78 and its 200 day moving average is $148.23.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.06. The company had revenue of $3.84 billion for 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%. TE Connectivity’s revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.84 EPS. On average, sell-side analysts anticipate that TE Connectivity Ltd. will post 7.95 EPS for the current fiscal year.

TE Connectivity declared that its Board of Directors has authorized a stock buyback program on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the electronics maker to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors 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.