Louisiana State Employees Retirement System Makes New Investment in TE Connectivity Ltd. (NYSE:TEL)

Louisiana State Employees Retirement System acquired a new position in TE Connectivity Ltd. (NYSE:TEL) during the 4th quarter, HoldingsChannel reports. The fund acquired 18,800 shares of the electronics maker’s stock, valued at approximately $2,641,000.

Several other hedge funds have also added to or reduced their stakes in TEL. Jones Financial Companies Lllp raised its position in TE Connectivity by 358.5% in the third quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker’s stock worth $30,000 after acquiring an additional 190 shares during the period. Bruce G. Allen Investments LLC bought a new stake in shares of TE Connectivity in the fourth quarter valued at approximately $30,000. Arlington Trust Co LLC bought a new stake in shares of TE Connectivity in the third quarter valued at approximately $35,000. Money Concepts Capital Corp raised its position in shares of TE Connectivity by 101.3% in the fourth quarter. Money Concepts Capital Corp now owns 322 shares of the electronics maker’s stock valued at $37,000 after purchasing an additional 162 shares during the period. Finally, Exchange Traded Concepts LLC raised its position in shares of TE Connectivity by 176.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 329 shares of the electronics maker’s stock valued at $46,000 after purchasing an additional 210 shares during the period. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Trading Down 0.7 %

Shares of TEL stock opened at $142.00 on Tuesday. TE Connectivity Ltd. has a 1 year low of $115.00 and a 1 year high of $147.98. The firm has a fifty day moving average price of $142.76 and a 200-day moving average price of $135.19. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.86 and a quick ratio of 1.16. The company has a market cap of $44.13 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 2.04 and a beta of 1.39.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.13. The company had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.87 billion. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. TE Connectivity’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.53 EPS. As a group, equities analysts predict that TE Connectivity Ltd. will post 7.57 earnings per share for the current year.

TE Connectivity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s dividend payout ratio is 22.39%.

Analysts Set New Price Targets

TEL has been the topic of several research reports. JPMorgan Chase & Co. boosted their price target on shares of TE Connectivity from $169.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Robert W. Baird boosted their price objective on shares of TE Connectivity from $147.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TE Connectivity in a research note on Monday, April 1st. Jefferies Financial Group initiated coverage on shares of TE Connectivity in a research note on Tuesday, April 9th. They set a “buy” rating and a $180.00 price objective for the company. Finally, Truist Financial boosted their price objective on shares of TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $153.30.

Insider Activity at TE Connectivity

In related news, insider Steven T. Merkt sold 99,777 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $144.00, for a total transaction of $14,367,888.00. Following the transaction, the insider now directly owns 30,459 shares in the company, valued at approximately $4,386,096. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.86% of the stock is currently owned by insiders.

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.