State of New Jersey Common Pension Fund D Decreases Stock Position in TE Connectivity Ltd. (NYSE:TEL)

State of New Jersey Common Pension Fund D reduced its position in TE Connectivity Ltd. (NYSE:TEL) by 35.3% in the second quarter, Holdings Channel.com reports. The fund owned 108,430 shares of the electronics maker’s stock after selling 59,061 shares during the period. State of New Jersey Common Pension Fund D’s holdings in TE Connectivity were worth $16,311,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Simplicity Wealth LLC raised its stake in TE Connectivity by 2.7% during the 2nd quarter. Simplicity Wealth LLC now owns 2,509 shares of the electronics maker’s stock valued at $377,000 after buying an additional 67 shares during the last quarter. Silvercrest Asset Management Group LLC grew its position in shares of TE Connectivity by 2.3% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 2,977 shares of the electronics maker’s stock valued at $432,000 after acquiring an additional 68 shares during the period. Dorsey & Whitney Trust CO LLC grew its position in shares of TE Connectivity by 3.9% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,835 shares of the electronics maker’s stock valued at $267,000 after acquiring an additional 69 shares during the period. Manchester Capital Management LLC grew its position in shares of TE Connectivity by 5.4% during the 1st quarter. Manchester Capital Management LLC now owns 1,427 shares of the electronics maker’s stock valued at $207,000 after acquiring an additional 73 shares during the period. Finally, Miracle Mile Advisors LLC grew its position in shares of TE Connectivity by 0.6% during the 1st quarter. Miracle Mile Advisors LLC now owns 13,326 shares of the electronics maker’s stock valued at $1,935,000 after acquiring an additional 75 shares during the period. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

TE Connectivity Stock Up 1.2 %

TEL opened at $145.84 on Friday. The firm has a 50-day simple moving average of $150.14 and a two-hundred day simple moving average of $147.26. TE Connectivity Ltd. has a 52 week low of $115.00 and a 52 week high of $159.98. The company has a market capitalization of $44.32 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 1.96 and a beta of 1.33. The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.23.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.05. TE Connectivity had a net margin of 21.94% and a return on equity of 18.53%. The firm had revenue of $4 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the prior year, the company earned $1.77 EPS. The business’s revenue was up .1% compared to the same quarter last year. Analysts forecast that TE Connectivity Ltd. will post 7.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TEL. Truist Financial boosted their price objective on shares of TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Wells Fargo & Company dropped their target price on shares of TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating for the company in a report on Tuesday, June 25th. Vertical Research started coverage on shares of TE Connectivity in a report on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 target price for the company. StockNews.com started coverage on shares of TE Connectivity in a report on Friday. They issued a “buy” rating for the company. Finally, HSBC downgraded shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 target price for the company. in a report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $158.45.

Insider Activity at TE Connectivity

In related news, insider Aaron Kyle Stucki sold 8,750 shares of the stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $155.00, for a total value of $1,356,250.00. Following the completion of the transaction, the insider now owns 20,556 shares of the company’s stock, valued at approximately $3,186,180. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other TE Connectivity news, insider Aaron Kyle Stucki sold 8,750 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $155.00, for a total value of $1,356,250.00. Following the completion of the sale, the insider now owns 20,556 shares of the company’s stock, valued at $3,186,180. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Heath A. Mitts sold 59,700 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $154.70, for a total transaction of $9,235,590.00. Following the completion of the sale, the chief financial officer now directly owns 38,073 shares of the company’s stock, valued at approximately $5,889,893.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,363 shares of company stock valued at $11,042,161. Insiders own 0.86% of the company’s stock.

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.