Kentucky Retirement Systems Insurance Trust Fund Has $1.36 Million Holdings in TE Connectivity Ltd. (NYSE:TEL)

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 8.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 8,998 shares of the electronics maker’s stock after selling 879 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in TE Connectivity were worth $1,359,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in TEL. Empowered Funds LLC grew its position in TE Connectivity by 26.3% in the third quarter. Empowered Funds LLC now owns 26,743 shares of the electronics maker’s stock worth $4,038,000 after acquiring an additional 5,563 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in TE Connectivity by 4.1% in the third quarter. CIBC Asset Management Inc now owns 77,229 shares of the electronics maker’s stock worth $11,661,000 after purchasing an additional 3,030 shares in the last quarter. OneDigital Investment Advisors LLC boosted its holdings in TE Connectivity by 36.5% in the third quarter. OneDigital Investment Advisors LLC now owns 7,476 shares of the electronics maker’s stock worth $1,129,000 after purchasing an additional 1,999 shares in the last quarter. Lifeworks Advisors LLC increased its position in TE Connectivity by 25.1% during the third quarter. Lifeworks Advisors LLC now owns 16,032 shares of the electronics maker’s stock worth $2,421,000 after buying an additional 3,217 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of TE Connectivity in the third quarter worth about $1,156,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wells Fargo & Company cut their price objective on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a research note on Friday, September 20th. Hsbc Global Res cut shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. Bank of America lowered their target price on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. StockNews.com started coverage on shares of TE Connectivity in a research report on Saturday. They set a “buy” rating for the company. Finally, Robert W. Baird raised their price target on TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $159.55.

TE Connectivity Trading Down 3.2 %

Shares of TEL opened at $148.35 on Friday. The stock’s 50-day moving average price is $148.50 and its 200 day moving average price is $149.29. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. TE Connectivity Ltd. has a 12-month low of $128.52 and a 12-month high of $159.98. The firm has a market capitalization of $44.38 billion, a price-to-earnings ratio of 14.44, a P/E/G ratio of 2.02 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, meeting analysts’ consensus estimates of $1.95. The business had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. TE Connectivity’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the company posted $1.78 earnings per share. As a group, research analysts predict that TE Connectivity Ltd. will post 8.13 earnings per share for the current year.

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

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.