TE Connectivity Ltd. $TEL Stock Position Lessened by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al cut its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 26.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 83,800 shares of the electronics maker’s stock after selling 30,200 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in TE Connectivity were worth $17,689,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Benjamin Edwards Inc. raised its stake in shares of TE Connectivity by 324.9% in the second quarter. Benjamin Edwards Inc. now owns 62,370 shares of the electronics maker’s stock worth $12,574,000 after purchasing an additional 47,691 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of TE Connectivity by 11.1% during the fourth quarter. Hsbc Holdings PLC now owns 230,034 shares of the electronics maker’s stock valued at $52,506,000 after buying an additional 23,074 shares during the last quarter. State Street Corp grew its holdings in TE Connectivity by 5.7% during the second quarter. State Street Corp now owns 13,639,381 shares of the electronics maker’s stock worth $2,750,079,000 after buying an additional 730,084 shares in the last quarter. QRG Capital Management Inc. grew its holdings in TE Connectivity by 8.1% during the second quarter. QRG Capital Management Inc. now owns 154,278 shares of the electronics maker’s stock worth $31,104,000 after buying an additional 11,519 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in TE Connectivity by 3.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,504,559 shares of the electronics maker’s stock valued at $303,332,000 after buying an additional 48,212 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Trading Down 4.4%

Shares of TE Connectivity stock opened at $212.87 on Friday. TE Connectivity Ltd. has a 1 year low of $190.27 and a 1 year high of $252.56. The firm has a market cap of $61.63 billion, a PE ratio of 19.23, a P/E/G ratio of 1.35 and a beta of 1.14. The stock has a fifty day moving average price of $211.03 and a 200-day moving average price of $213.13. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.73 and a quick ratio of 1.23.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, October 28th. The electronics maker reported $3.14 earnings per share for the quarter, topping analysts’ consensus estimates of $3.07 by $0.07. The company had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.29 billion. TE Connectivity had a net margin of 16.36% and a return on equity of 25.55%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.44 EPS. Equities research analysts anticipate that TE Connectivity Ltd. will post 13.32 EPS for the current year.

TE Connectivity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 20th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, November 20th. TE Connectivity’s dividend payout ratio is currently 28.18%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Sanford C. Bernstein started coverage on shares of TE Connectivity in a report on Wednesday, September 23rd. They set an “outperform” rating and a $243.00 price objective on the stock. The Goldman Sachs Group increased their target price on shares of TE Connectivity from $284.00 to $288.00 and gave the company a “buy” rating in a report on Tuesday, October 6th. JPMorgan Chase & Co. dropped their price target on shares of TE Connectivity from $260.00 to $235.00 and set a “neutral” rating on the stock in a research report on Thursday, July 16th. HSBC cut their price target on shares of TE Connectivity from $234.00 to $216.00 and set a “hold” rating on the stock in a report on Thursday, July 23rd. Finally, Citigroup upped their price objective on shares of TE Connectivity from $230.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday. Eleven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $255.21.

TE Connectivity Company Profile

TE Connectivity Ltd. (NYSE: TEL) is a global technology and manufacturing company that designs and produces connectivity and sensor solutions. Its products help transmit power, data and signals across a range of applications, including vehicles, industrial equipment, communications networks, aerospace systems, medical devices and consumer electronics.

The company’s product portfolio includes connectors, terminals, relays, sensors, antennas, circuit-protection products, wire and cable assemblies, and related application tooling.