TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems cut its stake in TE Connectivity Ltd. (NYSE:TEL) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,885 shares of the electronics maker’s stock after selling 288 shares during the period. Kentucky Retirement Systems’ holdings in TE Connectivity were worth $2,986,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Pinnacle Bancorp Inc. acquired a new stake in shares of TE Connectivity in the 4th quarter valued at about $26,000. Golden State Wealth Management LLC bought a new stake in TE Connectivity in the fourth quarter valued at about $44,000. Hilltop National Bank acquired a new stake in TE Connectivity during the fourth quarter valued at approximately $55,000. Webster Bank N. A. bought a new position in TE Connectivity during the 4th quarter worth approximately $61,000. Finally, R Squared Ltd acquired a new position in shares of TE Connectivity in the 4th quarter worth approximately $64,000. 91.43% of the stock is currently owned by institutional investors.

Insider Activity at TE Connectivity

In related 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 sale, the insider now owns 25,976 shares of the company’s stock, valued at $3,925,752.88. The trade was 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 at the SEC website. Company insiders own 0.90% of the company’s stock.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $154.55 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. The firm’s 50 day moving average is $147.20 and its two-hundred day moving average is $148.40. The firm has a market capitalization of $46.11 billion, a P/E ratio of 24.69, a PEG ratio of 2.12 and a beta of 1.32. TE Connectivity Ltd. has a 52 week low of $137.61 and a 52 week high of $159.98.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating the consensus estimate of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same period last year, the firm earned $1.84 EPS. The firm’s revenue was up .1% compared to the same quarter last year. Analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity announced that its Board of Directors has approved a stock repurchase program on Wednesday, October 30th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the electronics maker to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wells Fargo & Company raised their price objective on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 23rd. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target on the stock in a research report on Thursday, January 23rd. Robert W. Baird boosted their price objective on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Citigroup increased their price objective on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Finally, Bank of America lifted their target price on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $167.00.

TE Connectivity 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.