TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its holdings in TE Connectivity Ltd. (NYSE:TEL) by 0.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 68,156 shares of the electronics maker’s stock after selling 338 shares during the period. Retirement Systems of Alabama’s holdings in TE Connectivity were worth $9,899,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. JFS Wealth Advisors LLC raised its position 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 last quarter. Salem Investment Counselors Inc. raised its holdings in TE Connectivity by 112.4% in the 1st quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock valued at $27,000 after acquiring an additional 100 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new position in shares of TE Connectivity during the 4th quarter worth $30,000. Godsey & Gibb Inc. boosted its holdings in shares of TE Connectivity by 103.6% during the first quarter. Godsey & Gibb Inc. now owns 224 shares of the electronics maker’s stock worth $33,000 after purchasing an additional 114 shares during the last quarter. Finally, Crewe Advisors LLC purchased a new stake in shares of TE Connectivity in the fourth quarter valued at $33,000. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on TEL. StockNews.com initiated coverage on TE Connectivity in a research note on Wednesday. They issued a “buy” rating on the stock. JPMorgan Chase & Co. dropped their price target on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Robert W. Baird reduced their price objective on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Jefferies Financial Group started coverage on shares of TE Connectivity in a research report on Tuesday, April 9th. They set a “buy” rating and a $180.00 target price for the company. Finally, Wells Fargo & Company reduced their price target on shares of TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 25th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $155.13.

TE Connectivity Stock Up 0.4 %

NYSE TEL traded up $0.65 during mid-day trading on Friday, reaching $149.43. 1,389,670 shares of the company’s stock traded hands, compared to its average volume of 1,951,236. The company has a current ratio of 1.45, a quick ratio of 0.92 and a debt-to-equity ratio of 0.24. TE Connectivity Ltd. has a 1-year low of $115.00 and a 1-year high of $153.54. The company has a fifty day simple moving average of $148.29 and a 200-day simple moving average of $143.41. The company has a market cap of $45.76 billion, a price-to-earnings ratio of 13.62, a P/E/G ratio of 2.19 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.03. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.96 billion. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The business’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.65 earnings per share. As a group, equities research analysts expect that TE Connectivity Ltd. will post 7.5 EPS for the current year.

Insider Activity

In other news, Director Mark Trudeau sold 7,044 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was 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 in the company, valued at approximately $837,196.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other TE Connectivity news, insider Shadrak W. Kroeger sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $149.86, for a total value of $749,300.00. Following the transaction, the insider now owns 25,976 shares of the company’s stock, valued at $3,892,763.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark Trudeau sold 7,044 shares of the company’s stock in a transaction that occurred 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 transaction, 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. Company insiders own 0.86% of the company’s stock.

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.