TE Connectivity Ltd. (NYSE:TEL) Shares Sold by KBC Group NV

KBC Group NV cut its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 32.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,165 shares of the electronics maker’s stock after selling 33,452 shares during the quarter. KBC Group NV’s holdings in TE Connectivity were worth $9,889,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Blue Trust Inc. grew its stake in TE Connectivity by 68.1% during the 4th quarter. Blue Trust Inc. now owns 2,915 shares of the electronics maker’s stock worth $440,000 after purchasing an additional 1,181 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of TE Connectivity during the fourth quarter worth about $353,000. Asio Capital LLC increased its stake in shares of TE Connectivity by 5.9% during the fourth quarter. Asio Capital LLC now owns 25,303 shares of the electronics maker’s stock worth $3,618,000 after buying an additional 1,411 shares during the period. First Citizens Bank & Trust Co. lifted its stake in TE Connectivity by 67.7% in the fourth quarter. First Citizens Bank & Trust Co. now owns 44,271 shares of the electronics maker’s stock worth $6,329,000 after acquiring an additional 17,866 shares during the last quarter. Finally, Compass Wealth Management LLC grew its holdings in TE Connectivity by 124.6% during the 4th quarter. Compass Wealth Management LLC now owns 32,206 shares of the electronics maker’s stock worth $4,604,000 after acquiring an additional 17,869 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Trading Down 0.6 %

NYSE TEL opened at $147.54 on Thursday. The firm’s fifty day moving average is $147.69 and its two-hundred day moving average is $148.76. TE Connectivity Ltd. has a one year low of $137.61 and a one year high of $159.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.08 and a current ratio of 1.68. The firm has a market cap of $44.02 billion, a PE ratio of 23.57, a P/E/G ratio of 2.12 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the prior year, the business earned $1.84 EPS. The firm’s revenue was up .1% compared to the same quarter last year. Analysts expect that TE Connectivity Ltd. will post 8.1 earnings per share for the current year.

TE Connectivity announced that its Board of Directors has authorized a share buyback plan on Wednesday, October 30th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the electronics maker to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

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 transaction of $587,744.57. Following the completion of the transaction, the insider now owns 25,976 shares in the company, valued at approximately $3,925,752.88. This represents a 13.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on TEL shares. Wells Fargo & Company lifted their price objective on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. StockNews.com raised TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 18th. Citigroup increased their price objective on TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Finally, Bank of America increased their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $167.00.

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.