New York State Teachers Retirement System Sells 7,136 Shares of TE Connectivity Ltd. (NYSE:TEL)

New York State Teachers Retirement System lowered its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 2.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 262,753 shares of the electronics maker's stock after selling 7,136 shares during the period. New York State Teachers Retirement System owned approximately 0.09% of TE Connectivity worth $37,566,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Pinnacle Bancorp Inc. purchased a new stake in TE Connectivity during the 4th quarter valued at approximately $26,000. Wolff Wiese Magana LLC lifted its stake in TE Connectivity by 2,450.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker's stock valued at $39,000 after buying an additional 245 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in TE Connectivity in the 4th quarter valued at about $44,000. Hilltop National Bank acquired a new stake in TE Connectivity during the fourth quarter worth approximately $55,000. Finally, Webster Bank N. A. purchased a new stake in shares of TE Connectivity in the fourth quarter valued at $61,000. Hedge funds and other institutional investors own 91.43% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on TEL shares. StockNews.com upgraded TE Connectivity from a "buy" rating to a "strong-buy" rating in a report on Wednesday. Wells Fargo & Company lifted their price objective on shares of TE Connectivity from $151.00 to $155.00 and gave the company an "equal weight" rating in a research note on Thursday, January 23rd. HSBC raised shares of TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 price target for the company in a report on Thursday, January 23rd. Bank of America lifted their target price on TE Connectivity from $167.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, January 23rd. Finally, Citigroup raised their price objective on TE Connectivity from $160.00 to $165.00 and gave the company a "neutral" rating in a research note on Wednesday, January 22nd. Seven analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, TE Connectivity currently has a consensus rating of "Moderate Buy" and an average price target of $167.00.

TE Connectivity Price Performance

Shares of TE Connectivity stock traded up $1.68 during trading on Wednesday, hitting $156.10. 1,523,818 shares of the company's stock traded hands, compared to its average volume of 1,641,479. The company has a market cap of $46.57 billion, a PE ratio of 24.94, a PEG ratio of 2.07 and a beta of 1.32. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. TE Connectivity Ltd. has a twelve month low of $137.61 and a twelve month high of $159.98. The firm's fifty day moving average price is $146.90 and its 200 day moving average price is $148.21.

TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.06. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates 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 for the quarter was up .1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.84 earnings per share. Analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity announced that its board has approved a stock repurchase plan on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the electronics maker to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $151.13, for a total transaction of $587,744.57. Following the completion of the transaction, the insider now owns 25,976 shares in the company, valued at approximately $3,925,752.88. This represents a 13.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.90% of the company's stock.

About TE Connectivity

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.