State of New Jersey Common Pension Fund D Increases Stake in TE Connectivity Ltd (NYSE:TEL)

State of New Jersey Common Pension Fund D grew its stake in TE Connectivity Ltd (NYSE:TEL) by 5.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 170,000 shares of the electronics maker’s stock after buying an additional 9,200 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.05% of TE Connectivity worth $16,283,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rockefeller Capital Management L.P. increased its position in TE Connectivity by 854,554.5% during the first quarter. Rockefeller Capital Management L.P. now owns 846,108 shares of the electronics maker’s stock worth $68,324,000 after buying an additional 846,009 shares during the period. Valeo Financial Advisors LLC increased its position in TE Connectivity by 15.0% during the second quarter. Valeo Financial Advisors LLC now owns 1,535 shares of the electronics maker’s stock worth $147,000 after buying an additional 200 shares during the period. Cerebellum GP LLC increased its position in TE Connectivity by 14.7% during the first quarter. Cerebellum GP LLC now owns 4,067 shares of the electronics maker’s stock worth $328,000 after buying an additional 520 shares during the period. Vestmark Advisory Solutions Inc. acquired a new position in TE Connectivity during the first quarter worth approximately $2,116,000. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its position in TE Connectivity by 35.2% during the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 21,863 shares of the electronics maker’s stock worth $2,084,000 after buying an additional 5,692 shares during the period. Institutional investors and hedge funds own 91.33% of the company’s stock.

Shares of TE Connectivity stock traded down $0.93 during trading on Wednesday, reaching $92.42. The company’s stock had a trading volume of 1,121,806 shares, compared to its average volume of 1,412,420. The company has a quick ratio of 0.94, a current ratio of 1.47 and a debt-to-equity ratio of 0.32. TE Connectivity Ltd has a 12-month low of $69.84 and a 12-month high of $97.99. The firm has a market capitalization of $31.55 billion, a P/E ratio of 16.47, a P/E/G ratio of 1.65 and a beta of 1.20. The business’s 50 day simple moving average is $93.18.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.08. TE Connectivity had a return on equity of 18.33% and a net margin of 22.94%. The firm had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.43 billion. During the same period in the previous year, the business earned $1.43 earnings per share. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. Analysts predict that TE Connectivity Ltd will post 5.52 EPS for the current fiscal year.

In related news, insider Steven T. Merkt sold 65,650 shares of TE Connectivity stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $93.55, for a total value of $6,141,557.50. Following the sale, the insider now directly owns 89,854 shares in the company, valued at $8,405,841.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Thomas J. Lynch sold 68,516 shares of TE Connectivity stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $95.36, for a total value of $6,533,685.76. Following the completion of the sale, the director now owns 234,398 shares in the company, valued at $22,352,193.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 160,969 shares of company stock worth $15,222,600. Company insiders own 0.80% of the company’s stock.

TEL has been the topic of a number of recent research reports. Goldman Sachs Group raised TE Connectivity from a “neutral” rating to a “buy” rating and boosted their target price for the company from $92.00 to $105.00 in a report on Thursday, June 20th. Cross Research lowered TE Connectivity from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th. HC Wainwright reissued a “sell” rating on shares of TE Connectivity in a report on Friday, May 3rd. Longbow Research lowered TE Connectivity from a “buy” rating to a “neutral” rating and set a $90.66 target price on the stock. in a report on Monday, June 17th. Finally, Morgan Stanley dropped their target price on TE Connectivity from $100.00 to $98.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. TE Connectivity presently has a consensus rating of “Hold” and a consensus target price of $92.21.

TE Connectivity Company Profile

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors solutions in Europe, the Middle East, Africa, the Asia–Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

Featured Story: Yield Curve

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

Receive News & Ratings for TE Connectivity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TE Connectivity and related companies with MarketBeat.com's FREE daily email newsletter.