TE Connectivity Ltd. (NYSE:TEL) Shares Sold by South Dakota Investment Council

South Dakota Investment Council lowered its stake 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 and Exchange Commission. The institutional investor owned 88,656 shares of the electronics maker’s stock after selling 3,500 shares during the quarter. South Dakota Investment Council’s holdings in TE Connectivity were worth $12,456,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. GAMMA Investing LLC acquired a new stake in shares of TE Connectivity during the fourth quarter worth approximately $156,000. Linden Thomas Advisory Services LLC lifted its stake in TE Connectivity by 10.3% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 7,353 shares of the electronics maker’s stock worth $1,033,000 after purchasing an additional 685 shares during the last quarter. California Public Employees Retirement System lifted its stake in TE Connectivity by 0.8% during the fourth quarter. California Public Employees Retirement System now owns 1,844,897 shares of the electronics maker’s stock worth $259,208,000 after purchasing an additional 14,059 shares during the last quarter. Foster & Motley Inc. lifted its stake in TE Connectivity by 2.1% during the fourth quarter. Foster & Motley Inc. now owns 17,000 shares of the electronics maker’s stock worth $2,389,000 after purchasing an additional 349 shares during the last quarter. Finally, Sage Mountain Advisors LLC bought a new position in TE Connectivity during the fourth quarter worth $214,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Price Performance

TE Connectivity stock traded down $0.63 during midday trading on Tuesday, hitting $143.14. The company’s stock had a trading volume of 2,992,436 shares, compared to its average volume of 2,155,860. The company has a quick ratio of 1.16, a current ratio of 1.86 and a debt-to-equity ratio of 0.27. The stock’s 50-day moving average price is $142.71 and its 200-day moving average price is $136.00. TE Connectivity Ltd. has a 12 month low of $115.00 and a 12 month high of $147.98. The company has a market capitalization of $44.49 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 2.00 and a beta of 1.39.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.84 EPS for the quarter, topping the consensus estimate of $1.71 by $0.13. The firm had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.87 billion. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. TE Connectivity’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.53 earnings per share. Analysts anticipate that TE Connectivity Ltd. will post 7.59 earnings per share for the current fiscal year.

TE Connectivity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be issued 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 payout ratio is presently 22.39%.

Insiders Place Their Bets

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $144.00, for a total transaction of $14,367,888.00. Following the sale, the insider now owns 30,459 shares in the company, valued at approximately $4,386,096. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

TEL has been the topic of several research analyst reports. StockNews.com assumed coverage on TE Connectivity in a research note on Monday. They set a “buy” rating on the stock. JPMorgan Chase & Co. raised their price target on TE Connectivity from $169.00 to $170.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Citigroup assumed coverage on TE Connectivity in a report on Friday, January 5th. They set a “neutral” rating and a $146.00 price target on the stock. Jefferies Financial Group assumed coverage on TE Connectivity in a report on Tuesday, April 9th. They set a “buy” rating and a $180.00 price target on the stock. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of TE Connectivity in a report on Monday, April 1st. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $153.30.

About TE Connectivity

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.