TE Connectivity Ltd. (NYSE:TEL) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 1.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,474,117 shares of the electronics maker's stock after selling 23,800 shares during the quarter. California Public Employees Retirement System owned 0.49% of TE Connectivity worth $210,755,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Life Planning Partners Inc acquired a new stake in shares of TE Connectivity during the 4th quarter valued at approximately $7,890,000. Arrowstreet Capital Limited Partnership lifted its stake in TE Connectivity by 55.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 625,464 shares of the electronics maker's stock valued at $89,423,000 after buying an additional 223,018 shares in the last quarter. Allianz SE purchased a new stake in shares of TE Connectivity in the fourth quarter valued at $1,689,000. Allstate Corp purchased a new stake in TE Connectivity during the 4th quarter worth about $1,226,000. Finally, DnB Asset Management AS boosted its stake in shares of TE Connectivity by 2.2% during the 4th quarter. DnB Asset Management AS now owns 57,525 shares of the electronics maker's stock worth $8,224,000 after purchasing an additional 1,231 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company's stock.

Insider Transactions at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the completion of the transaction, the insider now owns 25,976 shares of the company's stock, valued at approximately $3,812,497.52. The trade was a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.90% of the company's stock.

Remove Ads

TE Connectivity Stock Down 7.3 %

Shares of TEL traded down $10.45 during trading on Thursday, reaching $131.84. The company's stock had a trading volume of 1,493,765 shares, compared to its average volume of 1,674,932. TE Connectivity Ltd. has a twelve month low of $131.35 and a twelve month high of $159.98. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The company has a market cap of $39.33 billion, a price-to-earnings ratio of 21.06, a P/E/G ratio of 2.11 and a beta of 1.25. The company has a fifty day moving average of $148.83 and a two-hundred day moving average of $148.34.

TE Connectivity (NYSE:TEL - Get Free Report) last released its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.06. The company had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company's revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.84 EPS. On average, sell-side analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Wednesday, May 21st. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's payout ratio is currently 45.37%.

Analyst Ratings Changes

Several analysts have commented on the company. Citigroup lifted their price target on TE Connectivity from $160.00 to $165.00 and gave the company a "neutral" rating in a report on Wednesday, January 22nd. HSBC upgraded shares of TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 target price for the company in a report on Thursday, January 23rd. 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. Wells Fargo & Company upped their price objective on TE Connectivity from $151.00 to $155.00 and gave the stock an "equal weight" rating in a report on Thursday, January 23rd. Finally, Truist Financial reduced their target price on TE Connectivity from $165.00 to $163.00 and set a "hold" rating on the stock in a report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $167.00.

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.