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

California State Teachers Retirement System cut its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 3.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 503,744 shares of the electronics maker's stock after selling 16,987 shares during the period. California State Teachers Retirement System owned 0.17% of TE Connectivity worth $72,020,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Pinnacle Bancorp Inc. purchased a new stake in TE Connectivity in the fourth quarter valued at approximately $26,000. SRS Capital Advisors Inc. boosted its holdings in shares of TE Connectivity by 117.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker's stock valued at $28,000 after purchasing an additional 107 shares during the last quarter. Fairway Wealth LLC purchased a new stake in shares of TE Connectivity during the 4th quarter valued at $43,000. Golden State Wealth Management LLC acquired a new stake in shares of TE Connectivity during the 4th quarter worth $44,000. Finally, Hilltop National Bank acquired a new stake in shares of TE Connectivity during the 4th quarter worth $55,000. Hedge funds and other institutional investors own 91.43% of the company's stock.

TE Connectivity Stock Up 2.5 %

TEL stock traded up $3.66 during trading on Friday, reaching $150.02. The stock had a trading volume of 1,370,342 shares, compared to its average volume of 1,682,679. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The firm has a fifty day moving average price of $140.68 and a 200 day moving average price of $146.06. The company has a market capitalization of $44.49 billion, a P/E ratio of 23.96, a PEG ratio of 2.11 and a beta of 1.23. TE Connectivity Ltd. has a 1-year low of $116.30 and a 1-year high of $159.98.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, beating analysts' consensus estimates of $1.96 by $0.14. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter in the prior year, the business posted $1.86 earnings per share. TE Connectivity's revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Wednesday, May 21st. This is a positive change from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's payout ratio is 62.42%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Citigroup lowered their price target on TE Connectivity from $165.00 to $142.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Bank of America boosted their target price on TE Connectivity from $167.00 to $170.00 and gave the stock a "buy" rating in a report on Thursday, January 23rd. HSBC upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price target on the stock in a report on Thursday, April 24th. Hsbc Global Res upgraded shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. Finally, Truist Financial cut their target price on shares of TE Connectivity from $163.00 to $156.00 and set a "hold" rating on the stock in a research note on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, TE Connectivity has a consensus rating of "Moderate Buy" and an average price target of $159.50.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction that occurred on 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 owns 25,976 shares of the company's stock, valued at $3,812,497.52. This trade represents a 49.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.90% of the stock is currently owned by corporate insiders.

About TE Connectivity

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.