California Public Employees Retirement System decreased its position in TE Connectivity Ltd. (NYSE:TEL – Free Report) by 15.1% during the first quarter, Holdings Channel reports. The fund owned 854,904 shares of the electronics maker’s stock after selling 152,556 shares during the period. California Public Employees Retirement System’s holdings in TE Connectivity were worth $178,692,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in TEL. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of TE Connectivity during the 4th quarter valued at about $25,000. Commonwealth Retirement Investments LLC bought a new position in shares of TE Connectivity in the 4th quarter worth approximately $40,000. MV Capital Management Inc. purchased a new position in shares of TE Connectivity in the fourth quarter worth approximately $41,000. JFS Wealth Advisors LLC grew its position in TE Connectivity by 54.6% during the fourth quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock valued at $42,000 after buying an additional 65 shares during the period. Finally, Westfuller Advisors LLC grew its position in TE Connectivity by 120.2% during the fourth quarter. Westfuller Advisors LLC now owns 185 shares of the electronics maker’s stock valued at $42,000 after buying an additional 101 shares during the period. 91.43% of the stock is currently owned by institutional investors.
TE Connectivity Stock Performance
Shares of NYSE TEL opened at $203.22 on Friday. The stock has a market cap of $59.32 billion, a PE ratio of 20.76, a price-to-earnings-growth ratio of 1.43 and a beta of 1.17. TE Connectivity Ltd. has a 1 year low of $177.21 and a 1 year high of $252.56. The firm has a fifty day moving average price of $205.86 and a 200-day moving average price of $215.96. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.89 and a quick ratio of 1.20.
TE Connectivity Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be paid a $0.78 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.5%. TE Connectivity’s dividend payout ratio is 31.87%.
Insider Activity
In related news, insider Shadrak W. Kroeger sold 9,400 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $215.00, for a total transaction of $2,021,000.00. Following the completion of the sale, the insider owned 25,976 shares in the company, valued at approximately $5,584,840. This trade represents a 26.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.60% of the company’s stock.
Wall Street Analyst Weigh In
TEL has been the topic of several recent research reports. Wells Fargo & Company increased their price target on shares of TE Connectivity from $226.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 25th. Citigroup cut their price objective on shares of TE Connectivity from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Monday, July 13th. Evercore restated an “in-line” rating and issued a $230.00 price objective on shares of TE Connectivity in a research note on Monday, June 22nd. Jefferies Financial Group raised TE Connectivity from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 15th. Finally, HSBC downgraded TE Connectivity from a “buy” rating to a “hold” rating and set a $234.00 target price on the stock. in a research report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $255.31.
Read Our Latest Research Report on TEL
TE Connectivity Profile
TE Connectivity (NYSE: TEL) is a global industrial technology company that designs and manufactures connectivity and sensor solutions used to enable the flow of power and data in a wide range of applications. Its product portfolio includes electrical connectors, cable and wire harness assemblies, sensors, relays and switches, fiber-optic and coaxial interconnects, and other passive and active components that provide mechanical and electrical connections in complex systems.
The company’s products and engineered solutions serve diverse end markets such as automotive and transportation, industrial equipment, data communications and networks, aerospace and defense, medical devices, and energy.
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