Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 2,549 Shares of TE Connectivity Ltd. (NYSE:TEL)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its holdings in TE Connectivity Ltd. (NYSE:TEL) by 3.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,611 shares of the electronics maker’s stock after selling 2,549 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in TE Connectivity were worth $9,094,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. grew its stake in shares of TE Connectivity by 4.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker’s stock worth $36,732,000 after acquiring an additional 9,670 shares during the period. Glenmede Trust Co. NA grew its stake in shares of TE Connectivity by 13.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker’s stock worth $29,322,000 after acquiring an additional 23,755 shares during the period. Meyer Handelman Co. grew its stake in shares of TE Connectivity by 9.9% during the 4th quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker’s stock worth $14,531,000 after acquiring an additional 9,175 shares during the period. Central Pacific Bank Trust Division bought a new position in shares of TE Connectivity during the 4th quarter worth $2,920,000. Finally, abrdn plc bought a new position in shares of TE Connectivity during the 4th quarter worth $15,739,000. Institutional investors own 91.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on TEL shares. Wells Fargo & Company increased their price target on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 23rd. Bank of America increased their price target on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. StockNews.com downgraded TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. Truist Financial cut their target price on TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Finally, Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $167.00.

TE Connectivity Stock Performance

NYSE:TEL opened at $146.10 on Friday. The business’s 50-day moving average price is $148.91 and its two-hundred day moving average price is $148.33. TE Connectivity Ltd. has a twelve month low of $137.61 and a twelve month high of $159.98. The stock has a market cap of $43.59 billion, a P/E ratio of 23.34, a PEG ratio of 2.11 and a beta of 1.32. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. The company had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. TE Connectivity’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the firm posted $1.84 EPS. As a group, equities 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 issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.94%. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, May 21st. TE Connectivity’s dividend payout ratio (DPR) is currently 45.37%.

Insider Activity at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,812,497.52. This trade represents a 49.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.90% of the stock is currently owned by insiders.

TE Connectivity 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.