Teachers Retirement System of The State of Kentucky Has $3.47 Million Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Teachers Retirement System of The State of Kentucky lowered its stake in TE Connectivity Ltd. (NYSE:TEL) by 7.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,003 shares of the electronics maker’s stock after selling 1,782 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in TE Connectivity were worth $3,473,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of TEL. Armstrong Advisory Group Inc. grew its position in shares of TE Connectivity by 208.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock valued at $34,000 after acquiring an additional 150 shares during the period. Wolff Wiese Magana LLC grew its holdings in TE Connectivity by 2,450.0% during the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after purchasing an additional 245 shares during the period. Family Firm Inc. acquired a new position in TE Connectivity during the second quarter worth approximately $43,000. Isthmus Partners LLC bought a new stake in TE Connectivity in the second quarter valued at approximately $45,000. Finally, MCF Advisors LLC lifted its position in shares of TE Connectivity by 2,745.5% in the second quarter. MCF Advisors LLC now owns 313 shares of the electronics maker’s stock valued at $47,000 after buying an additional 302 shares during the last quarter. Institutional investors own 91.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TEL. The Goldman Sachs Group decreased their target price on TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. StockNews.com upgraded shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 4th. Wells Fargo & Company reduced their target price on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a report on Friday, September 20th. Hsbc Global Res cut shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. Finally, Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $159.55.

TE Connectivity Price Performance

Shares of NYSE TEL opened at $150.09 on Friday. The stock has a market capitalization of $44.90 billion, a PE ratio of 14.61, a P/E/G ratio of 2.04 and a beta of 1.32. TE Connectivity Ltd. has a fifty-two week low of $128.52 and a fifty-two week high of $159.98. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08. The business has a fifty day moving average price of $150.10 and a two-hundred day moving average price of $149.76.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.95. The firm had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The business’s revenue for the quarter 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, equities analysts predict that TE Connectivity Ltd. will post 8.14 earnings per share for the current fiscal year.

TE Connectivity announced that its board has authorized a share repurchase plan on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

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.