Louisiana State Employees Retirement System Makes New $2.64 Million Investment in TE Connectivity Ltd. (NYSE:TEL)

Louisiana State Employees Retirement System bought a new position in TE Connectivity Ltd. (NYSE:TEL) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 18,800 shares of the electronics maker’s stock, valued at approximately $2,641,000.

A number of other institutional investors have also recently added to or reduced their stakes in TEL. Jones Financial Companies Lllp lifted its position in shares of TE Connectivity by 358.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker’s stock valued at $30,000 after acquiring an additional 190 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new stake in shares of TE Connectivity during the 4th quarter valued at $30,000. Arlington Trust Co LLC acquired a new stake in shares of TE Connectivity during the 3rd quarter valued at $35,000. Money Concepts Capital Corp raised its stake in TE Connectivity by 101.3% during the 4th quarter. Money Concepts Capital Corp now owns 322 shares of the electronics maker’s stock valued at $37,000 after purchasing an additional 162 shares during the period. Finally, Exchange Traded Concepts LLC raised its stake in TE Connectivity by 176.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 329 shares of the electronics maker’s stock valued at $46,000 after purchasing an additional 210 shares during the period. 91.43% of the stock is currently owned by institutional investors and hedge funds.

TE Connectivity Trading Down 0.7 %

Shares of NYSE:TEL opened at $142.00 on Tuesday. The stock has a market capitalization of $44.13 billion, a PE ratio of 13.47, a P/E/G ratio of 2.04 and a beta of 1.39. TE Connectivity Ltd. has a 1 year low of $115.00 and a 1 year high of $147.98. The firm has a fifty day moving average price of $142.76 and a 200 day moving average price of $135.19. The company has a current ratio of 1.86, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.13. The firm had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.87 billion. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. TE Connectivity’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the prior year, the company posted $1.53 earnings per share. Analysts expect that TE Connectivity Ltd. will post 7.57 EPS for the current fiscal year.

TE Connectivity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Friday, February 21st. TE Connectivity’s dividend payout ratio (DPR) is 22.39%.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $144.00, for a total transaction of $14,367,888.00. Following the completion of the sale, the insider now directly owns 30,459 shares in the company, valued at $4,386,096. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.86% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Citigroup assumed coverage on shares of TE Connectivity in a research note on Friday, January 5th. They set a “neutral” rating and a $146.00 target price on the stock. StockNews.com assumed coverage on shares of TE Connectivity in a research note on Sunday. They set a “buy” rating on the stock. JPMorgan Chase & Co. boosted their target price on shares of TE Connectivity from $169.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Truist Financial boosted their target price on shares of TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Finally, Robert W. Baird boosted their target price on shares of TE Connectivity from $147.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, TE Connectivity presently has a consensus rating of “Moderate Buy” and a consensus price target of $153.30.

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.