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

Teacher Retirement System of Texas lessened its stake in TE Connectivity Ltd. (NYSE:TEL) by 7.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 452,067 shares of the electronics maker’s stock after selling 35,532 shares during the period. Teacher Retirement System of Texas owned about 0.15% of TE Connectivity worth $64,632,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Pinnacle Bancorp Inc. purchased a new stake in TE Connectivity during the fourth quarter worth $26,000. SRS Capital Advisors Inc. boosted its holdings in TE Connectivity by 117.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock worth $28,000 after buying an additional 107 shares in the last quarter. Fairway Wealth LLC purchased a new stake in shares of TE Connectivity during the 4th quarter worth about $43,000. Golden State Wealth Management LLC purchased a new stake in shares of TE Connectivity during the 4th quarter worth about $44,000. Finally, Hilltop National Bank purchased a new stake in shares of TE Connectivity during the 4th quarter worth about $55,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Analyst Ratings Changes

TEL has been the topic of a number of recent analyst reports. StockNews.com downgraded TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. Citigroup increased their target price on TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Robert W. Baird increased their price objective on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Truist Financial decreased their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Finally, Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $167.00.

TE Connectivity Trading Up 0.6 %

Shares of TE Connectivity stock opened at $147.80 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. The stock’s 50 day simple moving average is $148.75 and its 200-day simple moving average is $148.40. The stock has a market cap of $44.10 billion, a P/E ratio of 23.61, a P/E/G ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a 1-year low of $137.61 and a 1-year high of $159.98.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share 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 company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the previous year, the company posted $1.84 earnings per share. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. Analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be given a dividend of $0.71 per share. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity’s dividend payout ratio (DPR) is presently 45.37%.

Insiders Place Their Bets

In other news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction that occurred 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 sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.90% of the stock is owned by insiders.

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.