Louisiana State Employees Retirement System Trims Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Louisiana State Employees Retirement System lessened its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 5.8% during the 4th quarter, Holdings Channel reports. 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 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Portfolio Design Labs LLC raised its position in shares of TE Connectivity by 23.7% during the 4th quarter. Portfolio Design Labs LLC now owns 2,563 shares of the electronics maker’s stock valued at $366,000 after buying an additional 491 shares during the period. Cardinal Strategic Wealth Guidance purchased a new stake in TE Connectivity in the fourth quarter valued at approximately $239,000. Wealthcare Capital Partners LLC purchased a new stake in TE Connectivity in the fourth quarter valued at approximately $273,000. Stonebridge Financial Group LLC purchased a new stake in TE Connectivity in the fourth quarter valued at approximately $124,000. Finally, Core Alternative Capital raised its position in TE Connectivity by 8.4% in the fourth quarter. Core Alternative Capital now owns 27,799 shares of the electronics maker’s stock valued at $3,974,000 after purchasing an additional 2,143 shares during the period. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Performance

Shares of 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. The firm has a fifty day moving average price of $146.78 and a 200 day moving average price of $148.23. The company has a market cap of $45.61 billion, a P/E ratio of 24.42, a PEG ratio of 2.01 and a beta of 1.32. TE Connectivity Ltd. has a 12 month low of $137.61 and a 12 month high of $159.98.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the previous year, the firm posted $1.84 earnings per share. The company’s revenue was up .1% compared to the same quarter last year. Sell-side analysts predict that TE Connectivity Ltd. will post 7.95 earnings per share for the current fiscal year.

TE Connectivity declared that its board has initiated a stock repurchase plan on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the electronics maker to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $151.13, for a total value 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 represents a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

TEL has been the topic of a number of research analyst reports. Bank of America boosted 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 Global Res raised TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. StockNews.com downgraded shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Truist Financial dropped their price target on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Finally, Citigroup boosted their price target 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. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, TE Connectivity currently has a consensus rating of “Hold” 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.