TE Connectivity Ltd. (NYSE:TEL) Stake Reduced by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp decreased its holdings in TE Connectivity Ltd. (NYSE:TEL) by 0.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 63,837 shares of the electronics maker’s stock after selling 334 shares during the quarter. Texas Permanent School Fund Corp’s holdings in TE Connectivity were worth $9,272,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. JFS Wealth Advisors LLC lifted its holdings in shares of TE Connectivity by 97.8% in the fourth quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock valued at $26,000 after buying an additional 91 shares during the period. Salem Investment Counselors Inc. lifted its holdings in shares of TE Connectivity by 112.4% in the first quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock valued at $27,000 after buying an additional 100 shares during the period. Bruce G. Allen Investments LLC acquired a new stake in shares of TE Connectivity in the fourth quarter valued at $30,000. Godsey & Gibb Inc. lifted its holdings in shares of TE Connectivity by 103.6% in the first quarter. Godsey & Gibb Inc. now owns 224 shares of the electronics maker’s stock valued at $33,000 after buying an additional 114 shares during the period. Finally, Crewe Advisors LLC acquired a new stake in shares of TE Connectivity in the fourth quarter valued at $33,000. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Up 0.8 %

Shares of NYSE TEL traded up $1.25 during mid-day trading on Thursday, reaching $154.76. 1,601,297 shares of the company traded hands, compared to its average volume of 1,943,905. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.92 and a current ratio of 1.45. The stock has a market cap of $47.39 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 2.22 and a beta of 1.33. The company’s fifty day moving average is $149.08 and its two-hundred day moving average is $143.73. TE Connectivity Ltd. has a fifty-two week low of $115.00 and a fifty-two week high of $155.10.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.03. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.96 billion. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.65 EPS. On average, analysts expect that TE Connectivity Ltd. will post 7.5 earnings per share for the current year.

Insider Buying and Selling

In related news, 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 transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Aaron Kyle Stucki sold 8,750 shares of TE Connectivity 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark Trudeau sold 7,044 shares of TE Connectivity stock in a transaction on Monday, April 29th. The shares were sold at an average price of $141.49, for a total value of $996,655.56. Following the completion of the sale, the director now directly owns 5,917 shares of the company’s stock, valued at $837,196.33. The disclosure for this sale can be found here. Insiders sold 20,794 shares of company stock worth $3,102,206 in the last 90 days. 0.86% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TE Connectivity in a report on Monday, April 1st. StockNews.com assumed coverage on TE Connectivity in a report on Thursday. They set a “buy” rating for the company. Jefferies Financial Group started coverage on TE Connectivity in a report on Tuesday, April 9th. They set a “buy” rating and a $180.00 target price for the company. Robert W. Baird reduced their price objective on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Finally, Wells Fargo & Company reduced their price objective on TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 25th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $155.13.

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.