King Luther Capital Management Corp Increases Holdings in TE Connectivity Ltd. (NYSE:TEL)

King Luther Capital Management Corp raised its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 0.6% in the 4th quarter, HoldingsChannel reports. The fund owned 14,006 shares of the electronics maker’s stock after buying an additional 83 shares during the quarter. King Luther Capital Management Corp’s holdings in TE Connectivity were worth $2,002,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Amundi purchased a new position in TE Connectivity in the fourth quarter valued at approximately $159,992,000. Nordea Investment Management AB acquired a new position in shares of TE Connectivity in the 4th quarter valued at $149,211,000. Sumitomo Mitsui Trust Group Inc. grew its position in shares of TE Connectivity by 2,330.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 753,572 shares of the electronics maker’s stock valued at $107,738,000 after buying an additional 722,565 shares during the last quarter. Franklin Resources Inc. raised its stake in TE Connectivity by 31.1% during 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 in the last quarter. Finally, EdgePoint Investment Group Inc. lifted its position in TE Connectivity by 26.0% in the third quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock valued at $508,481,000 after acquiring an additional 694,917 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Performance

NYSE TEL opened at $143.09 on Thursday. 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 business’s 50 day moving average is $148.44 and its two-hundred day moving average is $148.62. The stock has a market capitalization of $42.69 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 2.11 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.84 EPS. Research analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current year.

Insider Buying and Selling

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the completion of the sale, the insider now directly owns 25,976 shares in the company, valued at $3,812,497.52. The trade was a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on TEL shares. 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. StockNews.com cut TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. 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. Robert W. Baird increased their price target on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Finally, Citigroup lifted their price objective on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus 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.