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

Kentucky Retirement Systems Insurance Trust Fund increased its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 61.5% during the 4th quarter, Holdings Channel reports. 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Nordea Investment Management AB acquired a new position in TE Connectivity during the fourth quarter worth $149,211,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in TE Connectivity by 2,330.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 753,572 shares of the electronics maker’s stock worth $107,738,000 after buying an additional 722,565 shares during the last quarter. Franklin Resources Inc. raised its holdings in TE Connectivity by 31.1% during the third quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock worth $445,603,000 after buying an additional 712,228 shares during the last quarter. EdgePoint Investment Group Inc. raised its holdings in TE Connectivity by 26.0% during the third quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock worth $508,481,000 after buying an additional 694,917 shares during the last quarter. Finally, Principal Financial Group Inc. acquired a new position in TE Connectivity during the fourth quarter worth $46,675,000. 91.43% of the stock is owned by institutional investors.

TE Connectivity Stock Performance

NYSE TEL opened at $154.37 on Wednesday. TE Connectivity Ltd. has a 52-week low of $137.61 and a 52-week high of $159.98. The company has a 50-day simple moving average of $146.90 and a 200 day simple moving average of $148.21. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The company has a market capitalization of $46.05 billion, a PE ratio of 24.66, a price-to-earnings-growth ratio of 2.07 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last issued 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. The firm had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter last year, the business earned $1.84 earnings per share. On average, research analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity declared that its Board of Directors has authorized a share repurchase program on Wednesday, October 30th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the electronics maker to buy up to 5.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have weighed in on TEL. Citigroup upped their price objective on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Wells Fargo & Company increased their target price on shares of TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Bank of America increased their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Finally, HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price for the company in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $167.00.

Insiders Place Their Bets

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $151.13, for a total transaction of $587,744.57. Following the completion of the transaction, the insider now owns 25,976 shares in the company, valued at $3,925,752.88. This trade represents a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.90% of the company’s stock.

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.