Arizona State Retirement System Has $12.40 Million Position in TE Connectivity Ltd. (NYSE:TEL)

Arizona State Retirement System lowered its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 0.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 86,760 shares of the electronics maker’s stock after selling 828 shares during the quarter. Arizona State Retirement System’s holdings in TE Connectivity were worth $12,404,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of TEL. Nomura Asset Management Co. Ltd. boosted its stake in shares of TE Connectivity by 4.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker’s stock valued at $36,732,000 after purchasing an additional 9,670 shares in the last quarter. Glenmede Trust Co. NA boosted its holdings in shares of TE Connectivity by 13.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker’s stock worth $29,322,000 after acquiring an additional 23,755 shares in the last quarter. Venturi Wealth Management LLC grew its position in TE Connectivity by 1,632.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker’s stock worth $989,000 after acquiring an additional 6,169 shares during the last quarter. Waverton Investment Management Ltd increased its holdings in TE Connectivity by 8.2% during the 3rd quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker’s stock valued at $213,089,000 after purchasing an additional 106,688 shares in the last quarter. Finally, Central Pacific Bank Trust Division bought a new position in TE Connectivity in the 4th quarter valued at $2,920,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

Insider Activity

In other news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the transaction, the insider now owns 25,976 shares in the company, valued at $3,812,497.52. The trade was a 49.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TEL shares. Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Truist Financial lowered their target price on TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Citigroup raised their target price on TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Wells Fargo & Company raised their target price on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday, January 23rd. Finally, Bank of America raised their target price on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $167.00.

TE Connectivity Price Performance

Shares of TEL opened at $147.24 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a 1 year low of $137.61 and a 1 year high of $159.98. The stock has a market cap of $43.93 billion, a P/E ratio of 23.52, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. The stock’s 50-day moving average price is $148.18 and its two-hundred day moving average price is $148.77.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter last year, the business earned $1.84 earnings per share. The company’s revenue was up .1% compared to the same quarter last year. On average, equities analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

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.