TE Connectivity Ltd. (NYSE:TEL) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lowered its position in TE Connectivity Ltd. (NYSE:TEL) by 5.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 289,108 shares of the electronics maker’s stock after selling 17,199 shares during the quarter. New York State Teachers Retirement System owned 0.09% of TE Connectivity worth $43,491,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its holdings in TE Connectivity by 54.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker’s stock valued at $2,265,218,000 after purchasing an additional 5,526,230 shares during the last quarter. Norges Bank acquired a new stake in shares of TE Connectivity during the fourth quarter worth approximately $693,985,000. Massachusetts Financial Services Co. MA increased its stake in shares of TE Connectivity by 2.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,632,809 shares of the electronics maker’s stock worth $650,910,000 after buying an additional 111,340 shares during the last quarter. Wellington Management Group LLP raised its holdings in TE Connectivity by 12.5% in the fourth quarter. Wellington Management Group LLP now owns 3,630,003 shares of the electronics maker’s stock valued at $510,015,000 after acquiring an additional 403,750 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in TE Connectivity by 13.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,835,064 shares of the electronics maker’s stock worth $398,342,000 after acquiring an additional 343,205 shares in the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Price Performance

Shares of TEL stock traded up $1.67 during midday trading on Friday, reaching $152.36. 564,798 shares of the company were exchanged, compared to its average volume of 1,905,918. The company’s 50 day moving average price is $150.50 and its two-hundred day moving average price is $146.56. The company has a market cap of $46.31 billion, a P/E ratio of 13.79, a PEG ratio of 2.03 and a beta of 1.33. TE Connectivity Ltd. has a 12 month low of $115.00 and a 12 month high of $159.98. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.51.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.05. The firm had revenue of $4 billion during the quarter, compared to analyst estimates of $4.01 billion. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the company posted $1.77 EPS. On average, sell-side analysts expect that TE Connectivity Ltd. will post 7.57 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird upped their target price on shares of TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. StockNews.com initiated coverage on TE Connectivity in a research report on Tuesday. They issued a “buy” rating for the company. Hsbc Global Res raised shares of TE Connectivity to a “hold” rating in a research report on Wednesday, July 24th. Bank of America raised their target price on shares of TE Connectivity from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Finally, JPMorgan Chase & Co. lowered their target price on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $158.45.

Insiders Place Their Bets

In other news, insider Aaron Kyle Stucki sold 8,750 shares of TE Connectivity stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $155.00, for a total value of $1,356,250.00. Following the transaction, the insider now owns 20,556 shares of the company’s stock, valued at approximately $3,186,180. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Shadrak W. Kroeger sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $149.86, for a total value of $749,300.00. Following the completion of the sale, the insider now owns 25,976 shares in the company, valued at approximately $3,892,763.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Aaron Kyle Stucki sold 8,750 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $155.00, for a total value of $1,356,250.00. Following the completion of the sale, the insider now directly owns 20,556 shares of the company’s stock, valued at approximately $3,186,180. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,363 shares of company stock worth $11,791,461. 0.86% of the stock is owned by corporate 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.