Teachers Retirement System of The State of Kentucky Trims Holdings in TE Connectivity Ltd (NYSE:TEL)

Teachers Retirement System of The State of Kentucky lessened its holdings in shares of TE Connectivity Ltd (NYSE:TEL) by 9.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 256,240 shares of the electronics maker’s stock after selling 28,150 shares during the period. Teachers Retirement System of The State of Kentucky owned about 0.08% of TE Connectivity worth $20,896,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Public Employees Retirement Association of Colorado grew its holdings in shares of TE Connectivity by 8.3% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 62,025 shares of the electronics maker’s stock worth $3,906,000 after acquiring an additional 4,758 shares during the period. WASHINGTON TRUST Co purchased a new position in shares of TE Connectivity during the 1st quarter worth approximately $35,000. Oppenheimer Asset Management Inc. grew its holdings in shares of TE Connectivity by 36.5% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 81,491 shares of the electronics maker’s stock worth $5,133,000 after acquiring an additional 21,774 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in shares of TE Connectivity by 10.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,072 shares of the electronics maker’s stock worth $508,000 after acquiring an additional 753 shares during the period. Finally, Aigen Investment Management LP purchased a new position in shares of TE Connectivity during the 1st quarter worth approximately $477,000. Institutional investors own 90.30% of the company’s stock.

Shares of NYSE TEL traded up $0.92 during midday trading on Wednesday, hitting $101.87. 1,895,209 shares of the stock traded hands, compared to its average volume of 2,026,956. The firm has a 50-day moving average of $94.63 and a two-hundred day moving average of $80.20. The firm has a market capitalization of $33.32 billion, a P/E ratio of -327.45, a PEG ratio of 2.40 and a beta of 1.38. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 1.43. TE Connectivity Ltd has a one year low of $48.62 and a one year high of $103.20.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, July 29th. The electronics maker reported $0.59 EPS for the quarter, topping the consensus estimate of $0.41 by $0.18. The firm had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.40 billion. TE Connectivity had a positive return on equity of 15.06% and a negative net margin of 0.81%. TE Connectivity’s revenue was down 24.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.50 EPS. Equities analysts forecast that TE Connectivity Ltd will post 3.91 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Friday, August 21st were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.88%. TE Connectivity’s payout ratio is 34.59%.

In related news, insider Kevin N. Rock sold 28,000 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $93.29, for a total value of $2,612,120.00. Following the completion of the transaction, the insider now owns 82,473 shares of the company’s stock, valued at approximately $7,693,906.17. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Eric Resch sold 53,100 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $96.00, for a total transaction of $5,097,600.00. Following the completion of the transaction, the senior vice president now directly owns 67,910 shares of the company’s stock, valued at approximately $6,519,360. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 117,270 shares of company stock valued at $11,147,920. Company insiders own 0.80% of the company’s stock.

A number of analysts have recently commented on the company. Zacks Investment Research raised TE Connectivity from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research report on Thursday, July 16th. Citigroup boosted their price target on TE Connectivity from $75.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Wells Fargo & Company boosted their price target on TE Connectivity from $92.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Morgan Stanley boosted their price target on TE Connectivity from $84.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 15th. Finally, Oppenheimer boosted their price target on TE Connectivity from $92.00 to $98.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $98.00.

About TE Connectivity

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors 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.

Featured Article: If I purchase shares through a brokerage account, am I the holder of record?

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

Receive News & Ratings for TE Connectivity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TE Connectivity and related companies with MarketBeat.com's FREE daily email newsletter.