State of New Jersey Common Pension Fund D Has $13.64 Million Stock Position in TE Connectivity Ltd. $TEL

Key Points

• The State of New Jersey Common Pension Fund D has reduced its holdings in TE Connectivity Ltd. by 10.3%, now owning 96,532 shares worth approximately $13.6 million.
• Analysts have raised their price targets for TE Connectivity, with Bank of America increasing it from $168 to $190 and Citigroup setting a new target of $230, indicating a generally positive outlook on the stock.
• TE Connectivity recently announced a quarterly dividend of $0.71 per share, which reflects an annualized yield of 1.4% and a payout ratio of 58.80%.

State of New Jersey Common Pension Fund D decreased its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 10.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 96,532 shares of the electronics maker's stock after selling 11,025 shares during the period. State of New Jersey Common Pension Fund D's holdings in TE Connectivity were worth $13,642,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Costello Asset Management INC bought a new stake in shares of TE Connectivity in the 1st quarter valued at approximately $28,000. Millstone Evans Group LLC acquired a new stake in shares of TE Connectivity during the first quarter worth $32,000. Dagco Inc. bought a new position in shares of TE Connectivity in the 1st quarter worth about $35,000. North Capital Inc. acquired a new position in shares of TE Connectivity in the 1st quarter valued at about $46,000. Finally, Global X Japan Co. Ltd. bought a new stake in shares of TE Connectivity during the 1st quarter valued at about $47,000. 91.43% of the stock is owned by institutional investors.

Insider Transactions at TE Connectivity

In related news, SVP Malavika Sagar sold 1,945 shares of the firm's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $207.20, for a total transaction of $403,004.00. Following the completion of the transaction, the senior vice president owned 4,716 shares of the company's stock, valued at $977,155.20. This trade represents a 29.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Shadrak W. Kroeger sold 25,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $159.03, for a total transaction of $3,975,750.00. Following the transaction, the insider owned 25,976 shares of the company's stock, valued at approximately $4,130,963.28. This trade represents a 49.04% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 138,795 shares of company stock valued at $26,401,597. 0.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

TEL has been the subject of a number of research reports. Truist Financial lifted their target price on TE Connectivity from $156.00 to $200.00 and gave the company a "hold" rating in a research note on Thursday, July 24th. Vertical Research raised TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price target on the stock in a report on Friday, April 25th. JPMorgan Chase & Co. upped their price objective on TE Connectivity from $186.00 to $204.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Robert W. Baird increased their target price on TE Connectivity from $185.00 to $210.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Finally, Citigroup boosted their price target on shares of TE Connectivity from $200.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $197.55.

TE Connectivity Stock Performance

Shares of NYSE:TEL traded down $1.9430 on Wednesday, hitting $201.4470. The company's stock had a trading volume of 2,272,976 shares, compared to its average volume of 1,845,125. The company has a market capitalization of $59.52 billion, a price-to-earnings ratio of 41.71, a price-to-earnings-growth ratio of 2.42 and a beta of 1.23. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.96 and a current ratio of 1.52. TE Connectivity Ltd. has a 12 month low of $116.30 and a 12 month high of $212.76. The stock's 50-day moving average is $184.12 and its two-hundred day moving average is $160.49.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The electronics maker reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.19. The business had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.30 billion. TE Connectivity had a net margin of 8.78% and a return on equity of 20.22%. The company's quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.91 earnings per share. TE Connectivity has set its Q4 2025 guidance at 2.270-2.270 EPS. On average, equities research analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $2.84 annualized dividend and a yield of 1.4%. TE Connectivity's payout ratio is presently 58.80%.

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.