California Public Employees Retirement System Acquires 14,059 Shares of TE Connectivity Ltd. (NYSE:TEL)

California Public Employees Retirement System boosted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,844,897 shares of the electronics maker’s stock after acquiring an additional 14,059 shares during the period. California Public Employees Retirement System owned approximately 0.59% of TE Connectivity worth $259,208,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Invesco Ltd. lifted its holdings in TE Connectivity by 3.5% during the third quarter. Invesco Ltd. now owns 4,572,117 shares of the electronics maker’s stock worth $564,794,000 after acquiring an additional 154,496 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of TE Connectivity by 3.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,521,469 shares of the electronics maker’s stock valued at $558,537,000 after purchasing an additional 145,605 shares in the last quarter. Impax Asset Management Group plc lifted its holdings in shares of TE Connectivity by 1.4% in the fourth quarter. Impax Asset Management Group plc now owns 3,774,896 shares of the electronics maker’s stock valued at $529,798,000 after purchasing an additional 51,866 shares in the last quarter. Morgan Stanley lifted its holdings in shares of TE Connectivity by 11.7% in the third quarter. Morgan Stanley now owns 3,738,943 shares of the electronics maker’s stock valued at $461,872,000 after purchasing an additional 390,723 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of TE Connectivity by 3.8% in the third quarter. Bank of New York Mellon Corp now owns 3,006,425 shares of the electronics maker’s stock valued at $371,384,000 after purchasing an additional 110,510 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Stock Performance

NYSE TEL traded up $1.51 during trading on Tuesday, reaching $145.28. 351,040 shares of the company’s stock were exchanged, compared to its average volume of 2,119,913. The business has a 50 day moving average price of $142.66 and a 200-day moving average price of $135.86. The stock has a market capitalization of $45.15 billion, a P/E ratio of 13.64, a PEG ratio of 2.00 and a beta of 1.39. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.86 and a quick ratio of 1.16. TE Connectivity Ltd. has a fifty-two week low of $115.00 and a fifty-two week high of $147.98.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.13. The firm had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.87 billion. TE Connectivity had a return on equity of 18.93% and a net margin of 20.69%. The business’s revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.53 earnings per share. Sell-side analysts forecast that TE Connectivity Ltd. will post 7.59 earnings per share for the current fiscal year.

TE Connectivity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Friday, February 21st. TE Connectivity’s payout ratio is 22.39%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TEL shares. Truist Financial boosted their price target on TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a report on Thursday, January 25th. JPMorgan Chase & Co. boosted their price target on TE Connectivity from $169.00 to $170.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Robert W. Baird boosted their price target on TE Connectivity from $147.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Jefferies Financial Group started coverage on TE Connectivity in a research report on Tuesday, April 9th. They issued a “buy” rating and a $180.00 target price on the stock. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $153.30.

Insider Activity

In other news, insider Steven T. Merkt sold 99,777 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $144.00, for a total value of $14,367,888.00. Following the transaction, the insider now owns 30,459 shares of the company’s stock, valued at $4,386,096. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.86% of the stock is owned by company insiders.

TE Connectivity Company 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.