TE Connectivity Ltd. (NYSE:TEL) Stock Position Trimmed by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its position in TE Connectivity Ltd. (NYSE:TEL) by 0.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 107,557 shares of the electronics maker’s stock after selling 873 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in TE Connectivity were worth $15,377,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Exchange Traded Concepts LLC acquired a new position in TE Connectivity during the 3rd quarter worth $235,000. Creative Planning lifted its holdings in TE Connectivity by 3.0% in the third quarter. Creative Planning now owns 42,019 shares of the electronics maker’s stock worth $6,345,000 after purchasing an additional 1,237 shares during the period. Net Worth Advisory Group bought a new position in TE Connectivity in the 3rd quarter valued at about $305,000. Blue Trust Inc. increased its stake in TE Connectivity by 147.7% during the 3rd quarter. Blue Trust Inc. now owns 1,734 shares of the electronics maker’s stock valued at $261,000 after buying an additional 1,034 shares during the period. Finally, OLD National Bancorp IN raised its position in shares of TE Connectivity by 3.6% during the 3rd quarter. OLD National Bancorp IN now owns 2,478 shares of the electronics maker’s stock worth $374,000 after buying an additional 85 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

Insiders Place Their Bets

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $151.13, for a total value of $587,744.57. Following the completion of the sale, the insider now owns 25,976 shares of the company’s stock, valued at $3,925,752.88. The trade was a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.90% of the company’s stock.

TE Connectivity Price Performance

TEL opened at $152.87 on Tuesday. The stock has a fifty day moving average price of $146.79 and a 200 day moving average price of $148.13. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a 1 year low of $137.61 and a 1 year high of $159.98. The stock has a market cap of $45.61 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 2.01 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the company earned $1.84 EPS. The firm’s revenue was up .1% on a year-over-year basis. Analysts forecast that TE Connectivity Ltd. will post 7.95 EPS for the current fiscal year.

TE Connectivity declared that its Board of Directors has authorized a share buyback plan on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to purchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

TEL has been the topic of a number of research analyst reports. StockNews.com cut TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 11th. Citigroup upped their price objective on TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target on the stock in a research report on Thursday, January 23rd. Truist Financial reduced their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Finally, Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, TE Connectivity currently has a consensus rating of “Hold” and a consensus target price of $167.00.

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.