State of Alaska Department of Revenue Sells 3,715 Shares of TE Connectivity Ltd. (NYSE:TEL)

State of Alaska Department of Revenue lessened its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 8.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 41,132 shares of the electronics maker's stock after selling 3,715 shares during the quarter. State of Alaska Department of Revenue's holdings in TE Connectivity were worth $6,210,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Versant Capital Management Inc raised its holdings in TE Connectivity by 209.8% in the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker's stock valued at $28,000 after acquiring an additional 128 shares in the last quarter. Olistico Wealth LLC bought a new stake in shares of TE Connectivity in the 2nd quarter worth approximately $30,000. Armstrong Advisory Group Inc. lifted its position in shares of TE Connectivity by 208.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker's stock worth $34,000 after acquiring an additional 150 shares during the period. Bank & Trust Co bought a new stake in shares of TE Connectivity in the 2nd quarter worth approximately $35,000. Finally, Wolff Wiese Magana LLC lifted its position in shares of TE Connectivity by 2,450.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker's stock worth $39,000 after acquiring an additional 245 shares during the period. Institutional investors own 91.43% of the company's stock.

TE Connectivity Price Performance

TEL stock traded up $1.77 during midday trading on Tuesday, reaching $152.64. 1,738,535 shares of the company's stock traded hands, compared to its average volume of 1,841,599. The company has a 50-day simple moving average of $148.08 and a two-hundred day simple moving average of $148.37. TE Connectivity Ltd. has a 1-year low of $115.16 and a 1-year high of $159.98. The company has a market cap of $46.74 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 1.92 and a beta of 1.33. The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.23.

Analysts Set New Price Targets

A number of analysts have commented on the company. Wells Fargo & Company reduced their price objective on TE Connectivity from $155.00 to $153.00 and set an "equal weight" rating for the company in a research report on Friday, September 20th. Bank of America reduced their price objective on TE Connectivity from $173.00 to $165.00 and set a "buy" rating for the company in a research report on Wednesday, October 9th. Robert W. Baird raised their target price on TE Connectivity from $162.00 to $170.00 and gave the stock an "outperform" rating in a research report on Thursday, July 25th. Vertical Research initiated coverage on TE Connectivity in a research report on Tuesday, July 23rd. They set a "hold" rating and a $155.00 target price for the company. Finally, StockNews.com initiated coverage on TE Connectivity in a research report on Wednesday, October 23rd. They set a "buy" rating for the company. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $161.82.

Insider Activity

In other news, CFO Heath A. Mitts sold 59,700 shares of TE Connectivity stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $154.70, for a total value of $9,235,590.00. Following the completion of the sale, the chief financial officer now directly owns 38,073 shares of the company's stock, valued at approximately $5,889,893.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Heath A. Mitts sold 59,700 shares of TE Connectivity stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $154.70, for a total transaction of $9,235,590.00. Following the completion of the sale, the chief financial officer now directly owns 38,073 shares of the company's stock, valued at $5,889,893.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Robert J. Ott sold 2,913 shares of TE Connectivity stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total value of $450,320.67. Following the sale, the senior vice president now directly owns 25,504 shares of the company's stock, valued at approximately $3,942,663.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.86% 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.