New York State Teachers Retirement System Has $41.09 Million Holdings in TE Connectivity Ltd. (NYSE:TEL)

Posted by on Apr 11th, 2023

New York State Teachers Retirement System trimmed its holdings in shares of TE Connectivity Ltd. (NYSE:TEL – Get Rating) by 2.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 357,891 shares of the electronics maker’s stock after selling 9,530 shares during the quarter. New York State Teachers Retirement System owned about 0.11% of TE Connectivity worth $41,086,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TEL. Vanguard Group Inc. raised its stake in shares of TE Connectivity by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 27,935,312 shares of the electronics maker’s stock valued at $3,082,942,000 after acquiring an additional 99,264 shares in the last quarter. State Street Corp lifted its stake in shares of TE Connectivity by 0.3% in the third quarter. State Street Corp now owns 11,954,526 shares of the electronics maker’s stock worth $1,319,301,000 after buying an additional 40,740 shares during the last quarter. Boston Partners boosted its holdings in shares of TE Connectivity by 3.9% during the 3rd quarter. Boston Partners now owns 3,775,836 shares of the electronics maker’s stock worth $416,738,000 after buying an additional 141,137 shares during the period. Bank of New York Mellon Corp grew its stake in TE Connectivity by 56.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,762,825 shares of the electronics maker’s stock valued at $415,266,000 after buying an additional 1,363,669 shares during the last quarter. Finally, Impax Asset Management Group plc raised its holdings in TE Connectivity by 1.1% in the 3rd quarter. Impax Asset Management Group plc now owns 2,879,117 shares of the electronics maker’s stock worth $317,388,000 after acquiring an additional 30,194 shares during the period. 91.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. StockNews.com raised TE Connectivity from a “hold” rating to a “buy” rating in a research report on Thursday, April 6th. Credit Suisse Group upped their price target on TE Connectivity from $117.00 to $136.00 and gave the stock a “neutral” rating in a report on Wednesday, April 5th. Robert W. Baird lowered their price objective on shares of TE Connectivity from $147.00 to $143.00 in a research note on Thursday, January 26th. JPMorgan Chase & Co. cut their target price on shares of TE Connectivity from $135.00 to $130.00 and set a “neutral” rating for the company in a research note on Tuesday, December 20th. Finally, Wolfe Research lowered shares of TE Connectivity from an “outperform” rating to a “peer perform” rating in a research report on Thursday, February 9th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $138.27.

TE Connectivity Stock Performance

NYSE TEL opened at $125.29 on Tuesday. TE Connectivity Ltd. has a twelve month low of $104.76 and a twelve month high of $138.24. The company has a quick ratio of 0.99, a current ratio of 1.66 and a debt-to-equity ratio of 0.30. The stock has a market cap of $39.65 billion, a P/E ratio of 17.92, a PEG ratio of 2.75 and a beta of 1.32. The company’s 50-day simple moving average is $128.17 and its 200 day simple moving average is $122.36.

TE Connectivity (NYSE:TEL – Get Rating) last issued its earnings results on Wednesday, January 25th. The electronics maker reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.03. The business had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.76 billion. TE Connectivity had a return on equity of 21.25% and a net margin of 13.85%. TE Connectivity’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.76 EPS. As a group, research analysts forecast that TE Connectivity Ltd. will post 6.56 earnings per share for the current fiscal year.

TE Connectivity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 16th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $2.36 annualized dividend and a yield of 1.88%. TE Connectivity’s dividend payout ratio is 32.05%.

About TE Connectivity

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TE Connectivity Ltd. engages in the design and manufacture of connectivity and sensor solutions. It operates through the following segments: Transportation, Industrial, and Communications Solutions. The Transportation Solutions segment offers products that are used in the automotive, commercial transportation, and sensors markets.

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

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