Teacher Retirement System of Texas Trims Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Teacher Retirement System of Texas trimmed its stake in TE Connectivity Ltd. (NYSE:TEL) by 7.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 452,067 shares of the electronics maker’s stock after selling 35,532 shares during the period. Teacher Retirement System of Texas’ holdings in TE Connectivity were worth $64,632,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Fifth Third Wealth Advisors LLC raised its position in TE Connectivity by 39.1% in the third quarter. Fifth Third Wealth Advisors LLC now owns 4,389 shares of the electronics maker’s stock valued at $663,000 after purchasing an additional 1,233 shares during the period. PNC Financial Services Group Inc. lifted its stake in TE Connectivity by 0.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 116,966 shares of the electronics maker’s stock worth $17,661,000 after acquiring an additional 889 shares in the last quarter. Commerce Bank lifted its stake in TE Connectivity by 0.4% during the 3rd quarter. Commerce Bank now owns 405,318 shares of the electronics maker’s stock worth $61,199,000 after acquiring an additional 1,649 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in TE Connectivity by 769.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 112,401 shares of the electronics maker’s stock worth $16,997,000 after acquiring an additional 99,466 shares in the last quarter. Finally, King Luther Capital Management Corp lifted its stake in TE Connectivity by 2.1% during the 3rd quarter. King Luther Capital Management Corp now owns 13,923 shares of the electronics maker’s stock worth $2,102,000 after acquiring an additional 288 shares in the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Stock Up 0.6 %

TEL stock opened at $147.80 on Thursday. 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 twelve month low of $137.61 and a twelve month high of $159.98. The company’s 50 day moving average is $148.75 and its two-hundred day moving average is $148.40. The stock has a market cap of $44.10 billion, a P/E ratio of 23.61, a PEG ratio of 2.11 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 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 business had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the previous year, the firm earned $1.84 earnings per share. The business’s revenue was up .1% compared to the same quarter last year. Research analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be given a dividend of $0.71 per share. This is a positive change 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 yield of 1.92%. TE Connectivity’s payout ratio is 45.37%.

Wall Street Analyst Weigh In

TEL has been the topic of a number of research reports. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Bank of America increased their price objective on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Wells Fargo & Company increased their price target on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. HSBC raised TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target on the stock in a research report on Thursday, January 23rd. Finally, Citigroup raised their target price on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, TE Connectivity has an average rating of “Hold” and a consensus price target of $167.00.

Insider Activity

In other TE Connectivity 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 transaction of $3,669,250.00. Following the completion of the sale, the insider now directly owns 25,976 shares of the company’s stock, valued at $3,812,497.52. This represents a 49.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate 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.