Public Employees Retirement System of Ohio Sells 3,102 Shares of TE Connectivity Ltd. (NYSE:TEL)

Public Employees Retirement System of Ohio trimmed its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 18.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,023 shares of the electronics maker's stock after selling 3,102 shares during the quarter. Public Employees Retirement System of Ohio's holdings in TE Connectivity were worth $2,005,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of TE Connectivity by 14.2% in the fourth quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker's stock valued at $4,629,225,000 after acquiring an additional 4,029,596 shares in the last quarter. Wellington Management Group LLP acquired a new stake in TE Connectivity in the fourth quarter valued at $909,598,000. Geode Capital Management LLC increased its holdings in TE Connectivity by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 6,015,210 shares of the electronics maker's stock valued at $857,499,000 after acquiring an additional 33,340 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in TE Connectivity by 11.8% during the 4th quarter. Ameriprise Financial Inc. now owns 5,603,251 shares of the electronics maker's stock valued at $801,101,000 after buying an additional 592,072 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of TE Connectivity by 72.1% in the fourth quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker's stock valued at $581,148,000 after acquiring an additional 1,702,825 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on TEL shares. Wall Street Zen lowered shares of TE Connectivity from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Citigroup reduced their price target on TE Connectivity from $165.00 to $142.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Vertical Research upgraded TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price objective on the stock in a report on Friday, April 25th. Robert W. Baird increased their target price on TE Connectivity from $147.00 to $153.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Finally, UBS Group raised their price target on TE Connectivity from $163.00 to $185.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $162.50.

TE Connectivity Stock Up 0.3%

TE Connectivity stock traded up $0.54 during midday trading on Thursday, reaching $162.61. The stock had a trading volume of 149,789 shares, compared to its average volume of 1,699,112. TE Connectivity Ltd. has a 1-year low of $116.30 and a 1-year high of $168.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The firm's fifty day simple moving average is $145.69 and its 200-day simple moving average is $147.39. The stock has a market capitalization of $48.22 billion, a P/E ratio of 25.97, a price-to-earnings-growth ratio of 2.11 and a beta of 1.24.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, topping analysts' consensus estimates of $1.96 by $0.14. The business had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.97 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm's revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.86 EPS. As a group, analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders 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 1.75%. This is a boost from TE Connectivity's previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity's dividend payout ratio is presently 62.42%.

Insider Activity at TE Connectivity

In related news, SVP Malavika Sagar sold 3,125 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $160.00, for a total transaction of $500,000.00. Following the transaction, the senior vice president now directly owns 5,927 shares in the company, valued at approximately $948,320. The trade was a 34.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Heath A. Mitts sold 53,306 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $159.21, for a total value of $8,486,848.26. Following the completion of the transaction, the chief financial officer now owns 45,503 shares in the company, valued at $7,244,532.63. The trade was a 53.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 174,675 shares of company stock valued at $27,369,059 in the last 90 days. 0.90% of the stock is owned by corporate 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.