KBC Group NV Purchases 35,959 Shares of TE Connectivity Ltd. (NYSE:TEL)

KBC Group NV increased its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 53.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 102,617 shares of the electronics maker’s stock after acquiring an additional 35,959 shares during the period. KBC Group NV’s holdings in TE Connectivity were worth $15,495,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. State Board of Administration of Florida Retirement System increased its stake in shares of TE Connectivity by 3.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 31,715 shares of the electronics maker’s stock valued at $4,606,000 after buying an additional 1,100 shares during the period. Dorsey & Whitney Trust CO LLC increased its position in TE Connectivity by 3.9% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,835 shares of the electronics maker’s stock valued at $267,000 after acquiring an additional 69 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased 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 acquiring an additional 135,548 shares during the period. Catalytic Wealth RIA LLC raised its stake in shares of TE Connectivity by 38.6% during the first quarter. Catalytic Wealth RIA LLC now owns 2,656 shares of the electronics maker’s stock valued at $386,000 after acquiring an additional 740 shares during the last quarter. Finally, Rockport Wealth LLC acquired a new position in shares of TE Connectivity during the first quarter worth $236,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Stock Down 3.2 %

Shares of NYSE TEL opened at $148.35 on Friday. TE Connectivity Ltd. has a 12-month low of $128.52 and a 12-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 firm has a market cap of $44.38 billion, a PE ratio of 14.44, a P/E/G ratio of 2.10 and a beta of 1.33. The company’s fifty day simple moving average is $148.40 and its 200 day simple moving average is $149.20.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, meeting the consensus estimate of $1.95. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The company had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4 billion. During the same period last year, the business posted $1.78 EPS. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, sell-side analysts forecast that TE Connectivity Ltd. will post 8.13 earnings per share for the current fiscal year.

TE Connectivity declared that its board has authorized a stock buyback program on Wednesday, October 30th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the electronics maker to reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

TEL has been the subject of a number of recent research reports. Truist Financial increased their price objective on TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. Robert W. Baird lifted their price objective on TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Hsbc Global Res downgraded shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. Finally, HSBC lowered shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective on the stock. in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $159.55.

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.