California State Teachers Retirement System Sells 16,987 Shares of TE Connectivity Ltd. (NYSE:TEL)

California State Teachers Retirement System lessened its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 3.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 503,744 shares of the electronics maker’s stock after selling 16,987 shares during the period. California State Teachers Retirement System’s holdings in TE Connectivity were worth $72,020,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Wellington Management Group LLP bought a new position in TE Connectivity in the fourth quarter valued at approximately $909,598,000. Vanguard Group Inc. lifted its position in TE Connectivity by 14.2% in the 4th quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker’s stock valued at $4,629,225,000 after acquiring an additional 4,029,596 shares in the last quarter. Norges Bank acquired a new position in TE Connectivity in the 4th quarter worth $508,199,000. Clearbridge Investments LLC increased its holdings in TE Connectivity by 72.1% during the 4th quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker’s stock worth $581,148,000 after purchasing an additional 1,702,825 shares in the last quarter. Finally, Amundi acquired a new stake in shares of TE Connectivity in the 4th quarter valued at about $159,992,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

TE Connectivity Trading Up 0.3 %

TE Connectivity stock opened at $145.34 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The stock has a 50-day simple moving average of $141.02 and a 200 day simple moving average of $146.04. The stock has a market capitalization of $43.36 billion, a P/E ratio of 23.22, a PEG ratio of 2.11 and a beta of 1.25. TE Connectivity Ltd. has a 52 week low of $116.30 and a 52 week high of $159.98.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.14. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same period in the previous year, the firm earned $1.86 EPS. The firm’s revenue was up 4.4% compared to the same quarter last year. Analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued a dividend of $0.71 per share. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 annualized dividend and a dividend yield of 1.95%. TE Connectivity’s payout ratio is presently 62.42%.

Insider Activity at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the transaction, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,812,497.52. This represents a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on TEL. JPMorgan Chase & Co. upped their price objective on TE Connectivity from $146.00 to $148.00 and gave the stock a “neutral” rating in a research report on Thursday, April 24th. Hsbc Global Res raised shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 24th. Bank of America lifted their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Robert W. Baird increased their target price on shares of TE Connectivity from $147.00 to $153.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Finally, Truist Financial lowered their price target on shares of TE Connectivity from $163.00 to $156.00 and set a “hold” rating on the stock in a research note on Thursday, April 24th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $159.50.

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.