KBC Group NV Has $15.50 Million Stake in TE Connectivity Ltd. (NYSE:TEL)

KBC Group NV raised its stake in TE Connectivity Ltd. (NYSE:TEL) by 53.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 102,617 shares of the electronics maker’s stock after purchasing an additional 35,959 shares during the quarter. KBC Group NV’s holdings in TE Connectivity were worth $15,495,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Mitsubishi UFJ Trust & Banking Corp raised its position in TE Connectivity by 72.8% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,687 shares of the electronics maker’s stock valued at $46,537,000 after buying an additional 135,548 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of TE Connectivity in the second quarter valued at about $15,847,000. CANADA LIFE ASSURANCE Co lifted its position in shares of TE Connectivity by 5.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 283,128 shares of the electronics maker’s stock valued at $41,117,000 after purchasing an additional 15,052 shares in the last quarter. Marshall Financial Group LLC purchased a new position in TE Connectivity during the second quarter worth about $995,000. Finally, Venturi Wealth Management LLC grew its position in TE Connectivity by 1,632.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker’s stock worth $989,000 after purchasing an additional 6,169 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Price Performance

TEL opened at $148.35 on Friday. The firm has a 50-day moving average price of $148.40 and a 200-day moving average price of $149.20. TE Connectivity Ltd. has a twelve month low of $128.52 and a twelve month high of $159.98. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $44.38 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 2.10 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.95. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The business had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4 billion. During the same period in the previous year, the business earned $1.78 EPS. TE Connectivity’s revenue was up .8% compared to the same quarter last year. Equities analysts expect that TE Connectivity Ltd. will post 8.13 EPS for the current year.

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. StockNews.com initiated coverage on TE Connectivity in a research note on Saturday. They issued a “buy” rating on the stock. Robert W. Baird boosted their price objective on TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Truist Financial raised their target price on TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. The Goldman Sachs Group cut their price target on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Finally, HSBC downgraded shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective for the company. in a report on Thursday, October 31st. One 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. Based on data from MarketBeat, TE Connectivity presently has an average rating of “Hold” and a consensus target price of $159.55.

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.