South Dakota Investment Council Decreases Holdings in TE Connectivity Ltd. (NYSE:TEL)

South Dakota Investment Council decreased its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 88,656 shares of the electronics maker’s stock after selling 3,500 shares during the period. South Dakota Investment Council’s holdings in TE Connectivity were worth $12,456,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Invesco Ltd. lifted its position in TE Connectivity by 3.5% during the third quarter. Invesco Ltd. now owns 4,572,117 shares of the electronics maker’s stock valued at $564,794,000 after acquiring an additional 154,496 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in TE Connectivity by 3.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,521,469 shares of the electronics maker’s stock valued at $558,537,000 after purchasing an additional 145,605 shares in the last quarter. Impax Asset Management Group plc increased its stake in TE Connectivity by 1.4% during the 4th quarter. Impax Asset Management Group plc now owns 3,774,896 shares of the electronics maker’s stock valued at $529,798,000 after purchasing an additional 51,866 shares in the last quarter. Morgan Stanley increased its stake in TE Connectivity by 11.7% during the 3rd quarter. Morgan Stanley now owns 3,738,943 shares of the electronics maker’s stock valued at $461,872,000 after purchasing an additional 390,723 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in TE Connectivity by 3.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,006,425 shares of the electronics maker’s stock valued at $371,384,000 after purchasing an additional 110,510 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Performance

TEL stock traded down $0.63 during midday trading on Tuesday, hitting $143.14. 2,992,436 shares of the stock traded hands, compared to its average volume of 2,155,860. The firm has a market cap of $44.49 billion, a P/E ratio of 13.58, a PEG ratio of 2.00 and a beta of 1.39. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.86 and a quick ratio of 1.16. The stock’s fifty day simple moving average is $142.71 and its 200-day simple moving average is $136.00. TE Connectivity Ltd. has a 1-year low of $115.00 and a 1-year high of $147.98.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.84 EPS for the quarter, beating the consensus estimate of $1.71 by $0.13. The company had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.87 billion. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. The firm’s revenue was down .3% on a year-over-year basis. During the same quarter last year, the business earned $1.53 earnings per share. On average, analysts expect that TE Connectivity Ltd. will post 7.59 earnings per share for the current year.

TE Connectivity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be given a dividend of $0.65 per share. The ex-dividend date is Friday, February 21st. This represents a $2.60 annualized dividend and a yield of 1.82%. TE Connectivity’s dividend payout ratio is presently 22.39%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TEL. Robert W. Baird upped their price target on shares of TE Connectivity from $147.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. JPMorgan Chase & Co. upped their price target on shares of TE Connectivity from $169.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. StockNews.com began coverage on shares of TE Connectivity in a research note on Monday. They set a “buy” rating on the stock. Jefferies Financial Group began coverage on shares of TE Connectivity in a research note on Tuesday, April 9th. They issued a “buy” rating and a $180.00 price objective on the stock. Finally, Stifel Nicolaus increased their price objective on shares of TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, TE Connectivity presently has an average rating of “Moderate Buy” and a consensus price target of $153.30.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $144.00, for a total transaction of $14,367,888.00. Following the transaction, the insider now directly owns 30,459 shares of the company’s stock, valued at $4,386,096. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.86% of the company’s stock.

TE Connectivity Company 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.