State Board of Administration of Florida Retirement System Decreases Stock Position in TE Connectivity Ltd. (NYSE:TEL)

State Board of Administration of Florida Retirement System decreased its holdings in shares of TE Connectivity Ltd. (NYSE:TELGet Rating) by 18.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 28,371 shares of the electronics maker’s stock after selling 6,600 shares during the period. State Board of Administration of Florida Retirement System’s holdings in TE Connectivity were worth $3,210,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of TEL. American Century Companies Inc. increased its stake in TE Connectivity by 573.5% during the 1st quarter. American Century Companies Inc. now owns 803,455 shares of the electronics maker’s stock valued at $105,237,000 after purchasing an additional 684,157 shares in the last quarter. Cooke & Bieler LP lifted its position in TE Connectivity by 53.2% during the 1st quarter. Cooke & Bieler LP now owns 1,484,899 shares of the electronics maker’s stock worth $194,492,000 after acquiring an additional 515,819 shares during the period. Invesco Ltd. grew its stake in TE Connectivity by 14.9% during the 1st quarter. Invesco Ltd. now owns 3,809,763 shares of the electronics maker’s stock valued at $499,002,000 after purchasing an additional 495,028 shares during the last quarter. Woodline Partners LP increased its holdings in shares of TE Connectivity by 22,096.3% in the first quarter. Woodline Partners LP now owns 461,682 shares of the electronics maker’s stock valued at $60,471,000 after purchasing an additional 459,602 shares during the period. Finally, Ninety One UK Ltd raised its stake in shares of TE Connectivity by 24.9% in the first quarter. Ninety One UK Ltd now owns 2,183,770 shares of the electronics maker’s stock worth $286,030,000 after purchasing an additional 435,195 shares during the last quarter. Institutional investors and hedge funds own 90.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TEL. Royal Bank of Canada cut their price target on shares of TE Connectivity from $147.00 to $138.00 and set an “outperform” rating on the stock in a report on Thursday, November 3rd. Bank of America decreased their target price on shares of TE Connectivity from $146.00 to $140.00 in a research report on Wednesday, November 2nd. StockNews.com raised TE Connectivity from a “hold” rating to a “buy” rating in a research report on Tuesday, November 8th. Finally, JPMorgan Chase & Co. decreased their price objective on TE Connectivity from $145.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, November 3rd. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $136.63.

TE Connectivity Price Performance

NYSE:TEL opened at $124.52 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 1.57 and a debt-to-equity ratio of 0.30. TE Connectivity Ltd. has a 52 week low of $104.76 and a 52 week high of $166.44. The stock’s 50-day moving average price is $117.86 and its 200-day moving average price is $122.14. The stock has a market capitalization of $39.83 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 2.49 and a beta of 1.31.

TE Connectivity (NYSE:TELGet Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The electronics maker reported $1.88 EPS for the quarter, beating the consensus estimate of $1.87 by $0.01. The company had revenue of $4.36 billion for the quarter, compared to analyst estimates of $4.22 billion. TE Connectivity had a return on equity of 22.31% and a net margin of 14.91%. As a group, equities analysts expect that TE Connectivity Ltd. will post 6.96 EPS for the current fiscal year.

Insider Buying and Selling

In other TE Connectivity news, Director Terrence R. Curtin sold 21,929 shares of the stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $131.75, for a total transaction of $2,889,145.75. Following the transaction, the director now directly owns 54,969 shares of the company’s stock, valued at $7,242,165.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Tim Murphy sold 4,000 shares of TE Connectivity stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $131.13, for a total value of $524,520.00. Following the sale, the senior vice president now directly owns 17,754 shares of the company’s stock, valued at $2,328,082.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Terrence R. Curtin sold 21,929 shares of the stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $131.75, for a total value of $2,889,145.75. Following the completion of the transaction, the director now directly owns 54,969 shares of the company’s stock, valued at $7,242,165.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,929 shares of company stock valued at $3,809,216. 0.73% of the stock is owned by corporate insiders.

TE Connectivity Profile

(Get Rating)

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the Asia-Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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

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