State of Tennessee Department of Treasury Cuts Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

State of Tennessee Department of Treasury reduced its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 7.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 109,079 shares of the electronics maker's stock after selling 8,865 shares during the period. State of Tennessee Department of Treasury's holdings in TE Connectivity were worth $15,595,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its position in TE Connectivity by 302.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 20,564 shares of the electronics maker's stock worth $2,940,000 after buying an additional 15,459 shares during the period. MML Investors Services LLC increased its holdings in shares of TE Connectivity by 5.7% in the 4th quarter. MML Investors Services LLC now owns 24,007 shares of the electronics maker's stock valued at $3,432,000 after acquiring an additional 1,285 shares during the period. MetLife Investment Management LLC raised its position in TE Connectivity by 0.3% in the 4th quarter. MetLife Investment Management LLC now owns 73,922 shares of the electronics maker's stock valued at $10,569,000 after purchasing an additional 223 shares during the last quarter. Norinchukin Bank The boosted its stake in TE Connectivity by 5.5% during the 4th quarter. Norinchukin Bank The now owns 12,963 shares of the electronics maker's stock worth $1,853,000 after purchasing an additional 678 shares during the period. Finally, Bank of Nova Scotia Trust Co. acquired a new stake in TE Connectivity during the 4th quarter worth $9,317,000. 91.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction dated 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 directly owns 25,976 shares in the company, valued at approximately $3,812,497.52. This represents a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.90% of the company's stock.

TE Connectivity Price Performance

Shares of NYSE TEL traded down $0.26 during trading on Monday, reaching $144.12. The company had a trading volume of 346,522 shares, compared to its average volume of 1,887,119. 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 stock has a market capitalization of $43.00 billion, a PE ratio of 23.02, a price-to-earnings-growth ratio of 2.11 and a beta of 1.25. TE Connectivity Ltd. has a twelve month low of $116.30 and a twelve month high of $159.98. The stock has a 50-day moving average price of $141.45 and a two-hundred day moving average price of $146.06.

TE Connectivity (NYSE:TEL - Get Free Report) last released its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.96 by $0.14. The company had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.97 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. As a group, sell-side analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be issued a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a yield of 1.97%. TE Connectivity's payout ratio is 62.42%.

Analysts Set New Price Targets

TEL has been the topic of a number of research reports. The Goldman Sachs Group lowered their price target on TE Connectivity from $190.00 to $170.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. StockNews.com cut TE Connectivity from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 28th. Vertical Research raised TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price target for the company in a report on Friday. Robert W. Baird boosted their price objective on shares of TE Connectivity from $147.00 to $153.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, Citigroup reduced their target price on shares of TE Connectivity from $165.00 to $142.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Four 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. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $159.50.

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.