Texas Permanent School Fund Corp Sells 334 Shares of TE Connectivity Ltd. (NYSE:TEL)

Texas Permanent School Fund Corp trimmed its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 0.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,837 shares of the electronics maker’s stock after selling 334 shares during the period. Texas Permanent School Fund Corp’s holdings in TE Connectivity were worth $9,272,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in TE Connectivity during the fourth quarter valued at about $10,759,000. Nordea Investment Management AB boosted its holdings in shares of TE Connectivity by 5.3% during the fourth quarter. Nordea Investment Management AB now owns 812,537 shares of the electronics maker’s stock worth $114,430,000 after purchasing an additional 41,198 shares during the period. SG Americas Securities LLC boosted its holdings in shares of TE Connectivity by 518.3% during the fourth quarter. SG Americas Securities LLC now owns 155,698 shares of the electronics maker’s stock worth $21,876,000 after purchasing an additional 130,515 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of TE Connectivity by 184.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 43,867 shares of the electronics maker’s stock worth $6,163,000 after purchasing an additional 28,449 shares during the period. Finally, Patten Group Inc. purchased a new stake in shares of TE Connectivity during the fourth quarter worth about $220,000. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

TE Connectivity Stock Up 0.8 %

Shares of TEL traded up $1.25 on Thursday, hitting $154.76. 1,601,297 shares of the stock traded hands, compared to its average volume of 1,943,905. TE Connectivity Ltd. has a one year low of $115.00 and a one year high of $155.10. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.92 and a current ratio of 1.45. The business has a 50 day simple moving average of $149.08 and a 200 day simple moving average of $143.73. The company has a market capitalization of $47.39 billion, a PE ratio of 14.16, a P/E/G ratio of 2.22 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.03. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter last year, the company posted $1.65 earnings per share. The firm’s quarterly revenue was down 4.6% on a year-over-year basis. As a group, equities analysts forecast that TE Connectivity Ltd. will post 7.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Mark Trudeau sold 7,044 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $141.49, for a total value of $996,655.56. Following the sale, the director now owns 5,917 shares in the company, valued at $837,196.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Shadrak W. Kroeger sold 5,000 shares of TE Connectivity stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $149.86, for a total transaction of $749,300.00. Following the transaction, the insider now owns 25,976 shares in the company, valued at approximately $3,892,763.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark Trudeau sold 7,044 shares of TE Connectivity stock in a transaction on Monday, April 29th. The shares were sold at an average price of $141.49, for a total transaction of $996,655.56. Following the transaction, the director now owns 5,917 shares in the company, valued at approximately $837,196.33. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,794 shares of company stock worth $3,102,206. 0.86% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Robert W. Baird decreased their price target on shares of TE Connectivity from $159.00 to $158.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. The Goldman Sachs Group reissued a “buy” rating on shares of TE Connectivity in a research note on Monday, April 1st. Wells Fargo & Company decreased their price target on shares of TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 25th. Finally, Jefferies Financial Group started coverage on shares of TE Connectivity in a research note on Tuesday, April 9th. They issued a “buy” rating and a $180.00 price target for the company. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $155.13.

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.