Illinois Municipal Retirement Fund Increases Position in TE Connectivity Ltd. (NYSE:TEL)

Illinois Municipal Retirement Fund grew its holdings in TE Connectivity Ltd. (NYSE:TEL) by 47.8% during the fourth quarter, HoldingsChannel reports. The firm owned 18,558 shares of the electronics maker’s stock after acquiring an additional 6,002 shares during the period. Illinois Municipal Retirement Fund’s holdings in TE Connectivity were worth $2,653,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Nomura Asset Management Co. Ltd. lifted its position in TE Connectivity by 4.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker’s stock worth $36,732,000 after buying an additional 9,670 shares in the last quarter. Glenmede Trust Co. NA increased its stake in shares of TE Connectivity by 13.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker’s stock worth $29,322,000 after acquiring an additional 23,755 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in shares of TE Connectivity by 1,632.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker’s stock worth $989,000 after acquiring an additional 6,169 shares during the period. Waverton Investment Management Ltd boosted its position in shares of TE Connectivity by 8.2% during the 3rd quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker’s stock valued at $213,089,000 after acquiring an additional 106,688 shares during the last quarter. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of TE Connectivity in the fourth quarter valued at about $2,920,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

TE Connectivity Price Performance

TEL opened at $151.89 on Friday. The stock’s 50-day moving average price is $147.66 and its 200 day moving average price is $148.66. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-month high of $159.98. The firm has a market cap of $45.32 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 2.11 and a beta of 1.32. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26.

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. The business had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.84 earnings per share. As a group, sell-side analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $151.13, for a total value of $587,744.57. Following the sale, the insider now directly owns 25,976 shares in the company, valued at approximately $3,925,752.88. This trade represents a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

TEL has been the topic of a number of analyst reports. Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Truist Financial reduced their price target on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. StockNews.com cut TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Friday. Robert W. Baird lifted their target price on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Finally, Citigroup increased their price target on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, TE Connectivity has a consensus rating of “Hold” and an average price target of $167.00.

About TE Connectivity

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.