California Public Employees Retirement System Purchases 14,059 Shares of TE Connectivity Ltd. (NYSE:TEL)

California Public Employees Retirement System grew its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,844,897 shares of the electronics maker’s stock after purchasing an additional 14,059 shares during the period. California Public Employees Retirement System’s holdings in TE Connectivity were worth $259,208,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in TEL. Invesco Ltd. lifted its stake in shares of TE Connectivity by 3.5% in the 3rd quarter. Invesco Ltd. now owns 4,572,117 shares of the electronics maker’s stock valued at $564,794,000 after acquiring an additional 154,496 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in TE Connectivity by 3.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,521,469 shares of the electronics maker’s stock valued at $558,537,000 after purchasing an additional 145,605 shares during the period. Impax Asset Management Group plc increased its holdings in TE Connectivity by 1.4% during the 4th quarter. Impax Asset Management Group plc now owns 3,774,896 shares of the electronics maker’s stock valued at $529,798,000 after purchasing an additional 51,866 shares during the period. Morgan Stanley increased its holdings in TE Connectivity by 11.7% during the 3rd quarter. Morgan Stanley now owns 3,738,943 shares of the electronics maker’s stock valued at $461,872,000 after purchasing an additional 390,723 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in TE Connectivity by 3.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,006,425 shares of the electronics maker’s stock valued at $371,384,000 after purchasing an additional 110,510 shares during the period. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Price Performance

Shares of TE Connectivity stock traded up $1.51 during trading on Tuesday, reaching $145.28. 351,040 shares of the stock traded hands, compared to its average volume of 2,119,913. The company has a market capitalization of $45.15 billion, a price-to-earnings ratio of 13.64, a P/E/G ratio of 2.00 and a beta of 1.39. The business has a fifty day simple moving average of $142.66 and a two-hundred day simple moving average of $135.86. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.86 and a quick ratio of 1.16. TE Connectivity Ltd. has a 52-week low of $115.00 and a 52-week high of $147.98.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.13. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. The firm had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same quarter last year, the firm earned $1.53 EPS. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. Sell-side analysts expect that TE Connectivity Ltd. will post 7.59 EPS for the current year.

TE Connectivity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s payout ratio is 22.39%.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $144.00, for a total value of $14,367,888.00. Following the completion of the sale, the insider now owns 30,459 shares of the company’s stock, valued at $4,386,096. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.86% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TEL. Stifel Nicolaus boosted their price target on TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a report on Thursday, January 25th. StockNews.com initiated coverage on TE Connectivity in a report on Monday. They set a “buy” rating on the stock. The Goldman Sachs Group restated a “buy” rating on shares of TE Connectivity in a research note on Monday, April 1st. Jefferies Financial Group initiated coverage on TE Connectivity in a research note on Tuesday, April 9th. They issued a “buy” rating and a $180.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their price target on TE Connectivity from $169.00 to $170.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $153.30.

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.