Commonwealth of Pennsylvania Public School Empls Retrmt SYS Boosts Position in TE Connectivity Ltd (TEL)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of TE Connectivity Ltd (NYSE:TEL) by 29.4% during the first quarter, Holdings Channel reports. The firm owned 26,355 shares of the electronics maker’s stock after buying an additional 5,985 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in TE Connectivity were worth $1,965,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Daiwa SB Investments Ltd. purchased a new stake in TE Connectivity during the first quarter worth $101,000. Portfolio Solutions LLC purchased a new stake in TE Connectivity during the first quarter worth $104,000. Intellectus Partners LLC purchased a new stake in TE Connectivity during the fourth quarter worth $107,000. Webster Bank N. A. increased its stake in TE Connectivity by 675.0% in the first quarter. Webster Bank N. A. now owns 1,550 shares of the electronics maker’s stock worth $116,000 after buying an additional 1,350 shares during the last quarter. Finally, Virtus Investment Advisers Inc. purchased a new stake in TE Connectivity during the third quarter worth $105,000. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

Shares of TE Connectivity Ltd (NYSE:TEL) traded up 1.06% during mid-day trading on Friday, reaching $74.67. The company’s stock had a trading volume of 1,337,275 shares. The company has a 50-day moving average price of $74.69 and a 200 day moving average price of $72.07. The company has a market cap of $26.51 billion, a PE ratio of 12.83 and a beta of 1.16. TE Connectivity Ltd has a 52-week low of $54.54 and a 52-week high of $79.69.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, April 26th. The electronics maker reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.11. The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.10 billion. TE Connectivity had a net margin of 16.56% and a return on equity of 19.26%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 earnings per share. Equities analysts expect that TE Connectivity Ltd will post $4.64 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 9th. Stockholders of record on Friday, May 26th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, May 24th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.17%. This is a boost from TE Connectivity’s previous quarterly dividend of $0.37. TE Connectivity’s dividend payout ratio is 25.92%.

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TEL has been the subject of a number of recent research reports. Stifel Nicolaus boosted their target price on TE Connectivity from $75.00 to $81.00 and gave the stock a “buy” rating in a research report on Thursday, January 26th. Zacks Investment Research downgraded TE Connectivity from a “buy” rating to a “hold” rating in a research report on Tuesday, February 28th. Cowen and Company initiated coverage on TE Connectivity in a research report on Tuesday, March 21st. They issued an “outperform” rating and a $90.00 target price for the company. Royal Bank of Canada restated an “outperform” rating and issued a $82.00 target price on shares of TE Connectivity in a research report on Tuesday, March 28th. Finally, Deutsche Bank AG boosted their target price on TE Connectivity from $75.00 to $82.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $82.29.

In other news, insider Thomas J. Lynch sold 131,875 shares of the stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $76.85, for a total value of $10,134,593.75. Following the completion of the transaction, the insider now owns 450,694 shares of the company’s stock, valued at $34,635,833.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John S. Jenkins sold 14,000 shares of the stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $75.70, for a total transaction of $1,059,800.00. Following the completion of the transaction, the executive vice president now directly owns 8,823 shares of the company’s stock, valued at approximately $667,901.10. The disclosure for this sale can be found here. Insiders sold 437,209 shares of company stock valued at $33,006,586 in the last three months. Company insiders own 1.49% of the company’s stock.

About TE Connectivity

TE Connectivity Ltd. is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Transportation Solutions segment offers connectivity and sensor technologies.

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