State of Michigan Retirement System Has $14.25 Million Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

State of Michigan Retirement System reduced its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 0.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,123 shares of the electronics maker’s stock after selling 400 shares during the period. State of Michigan Retirement System’s holdings in TE Connectivity were worth $14,251,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. JFS Wealth Advisors LLC raised its stake in TE Connectivity by 97.8% during the fourth quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock worth $26,000 after acquiring an additional 91 shares in the last quarter. Salem Investment Counselors Inc. grew its stake in shares of TE Connectivity by 112.4% during the first quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock worth $27,000 after buying an additional 100 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new position in shares of TE Connectivity during the fourth quarter worth $30,000. Crewe Advisors LLC bought a new position in shares of TE Connectivity in the 4th quarter valued at $33,000. Finally, Jones Financial Companies Lllp boosted its holdings in shares of TE Connectivity by 358.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker’s stock valued at $30,000 after acquiring an additional 190 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Price Performance

TEL stock opened at $149.94 on Wednesday. The firm has a 50 day moving average of $147.82 and a 200-day moving average of $143.27. The company has a current ratio of 1.45, a quick ratio of 0.92 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $45.92 billion, a P/E ratio of 13.72, a price-to-earnings-growth ratio of 2.22 and a beta of 1.33. TE Connectivity Ltd. has a 12 month low of $115.00 and a 12 month high of $153.54.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.03. The company had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.96 billion. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The firm’s quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter last year, the company earned $1.65 earnings per share. As a group, sell-side analysts predict that TE Connectivity Ltd. will post 7.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Wells Fargo & Company decreased their price target on TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating for the company in a report on Tuesday, June 25th. JPMorgan Chase & Co. lowered their price objective on shares of TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. The Goldman Sachs Group restated a “buy” rating on shares of TE Connectivity in a research note on Monday, April 1st. Jefferies Financial Group began coverage on TE Connectivity in a research note on Tuesday, April 9th. They issued a “buy” rating and a $180.00 price objective on the stock. Finally, StockNews.com began coverage on TE Connectivity in a research note on Wednesday. They issued a “buy” rating on the stock. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $155.13.

Insider Transactions at TE Connectivity

In other news, Director Mark Trudeau sold 7,044 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $141.49, for a total value of $996,655.56. Following the transaction, the director now owns 5,917 shares of the company’s stock, valued at approximately $837,196.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Shadrak W. Kroeger sold 5,000 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $149.86, for a total transaction of $749,300.00. Following the completion of the sale, the insider now directly owns 25,976 shares in the company, valued at approximately $3,892,763.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark Trudeau sold 7,044 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $141.49, for a total transaction of $996,655.56. Following the completion of the transaction, the director now owns 5,917 shares in the company, valued at approximately $837,196.33. The disclosure for this sale can be found here. 0.86% of the stock is owned by insiders.

TE Connectivity Profile

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.