TE Connectivity Ltd. (NYSE:TEL) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 167,491 shares of the electronics maker’s stock after selling 3,292 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in TE Connectivity were worth $23,532,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Invesco Ltd. boosted its position in shares of TE Connectivity by 3.5% in the third quarter. Invesco Ltd. now owns 4,572,117 shares of the electronics maker’s stock worth $564,794,000 after buying an additional 154,496 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of TE Connectivity by 3.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,521,469 shares of the electronics maker’s stock worth $558,537,000 after buying an additional 145,605 shares during the period. Impax Asset Management Group plc boosted its position in shares of TE Connectivity by 1.4% in the fourth quarter. Impax Asset Management Group plc now owns 3,774,896 shares of the electronics maker’s stock worth $529,798,000 after buying an additional 51,866 shares during the period. Morgan Stanley boosted its position in shares of TE Connectivity by 11.7% in the third quarter. Morgan Stanley now owns 3,738,943 shares of the electronics maker’s stock worth $461,872,000 after buying an additional 390,723 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in TE Connectivity by 3.8% during the third quarter. Bank of New York Mellon Corp now owns 3,006,425 shares of the electronics maker’s stock valued at $371,384,000 after purchasing an additional 110,510 shares during the last quarter. 91.43% of the stock is owned by institutional investors.

TE Connectivity Trading Up 0.3 %

Shares of TEL traded up $0.44 during trading hours on Thursday, hitting $140.44. 3,219,400 shares of the stock traded hands, compared to its average volume of 2,214,311. The company has a current ratio of 1.86, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27. TE Connectivity Ltd. has a 1-year low of $115.00 and a 1-year high of $147.98. The firm has a market capitalization of $43.65 billion, a PE ratio of 13.30, a price-to-earnings-growth ratio of 2.04 and a beta of 1.39. The business has a fifty day moving average of $142.65 and a 200-day moving average of $136.02.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.03. The company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.96 billion. TE Connectivity had a return on equity of 18.93% and a net margin of 20.69%. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.65 earnings per share. Analysts expect that TE Connectivity Ltd. will post 7.59 EPS for the current year.

TE Connectivity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.85%. The ex-dividend date is Friday, February 21st. TE Connectivity’s dividend payout ratio is 22.39%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TEL. Robert W. Baird reduced their price target on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating for the company in a report on Thursday. Citigroup began coverage on TE Connectivity in a research report on Friday, January 5th. They set a “neutral” rating and a $146.00 price objective on the stock. StockNews.com began coverage on TE Connectivity in a research note on Monday. They issued a “buy” rating on the stock. Jefferies Financial Group began coverage on TE Connectivity in a research note on Tuesday, April 9th. They issued a “buy” rating and a $180.00 price target on the stock. Finally, Truist Financial boosted their price target on TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $153.50.

Insider Activity

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $144.00, for a total transaction of $14,367,888.00. Following the completion of the transaction, the insider now owns 30,459 shares of the company’s stock, valued at approximately $4,386,096. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.86% of the company’s stock.

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.