Swedbank AB Invests $10.18 Million in TE Connectivity Ltd. (NYSE:TEL)

Swedbank AB bought a new position in TE Connectivity Ltd. (NYSE:TEL) in the 1st quarter, Holdings Channel reports. The firm bought 70,108 shares of the electronics maker’s stock, valued at approximately $10,182,000.

Several other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in TE Connectivity by 54.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker’s stock valued at $2,265,218,000 after buying an additional 5,526,230 shares in the last quarter. Norges Bank bought a new stake in TE Connectivity during the 4th quarter valued at about $693,985,000. Massachusetts Financial Services Co. MA lifted its holdings in TE Connectivity by 2.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,632,809 shares of the electronics maker’s stock valued at $650,910,000 after buying an additional 111,340 shares in the last quarter. Impax Asset Management Group plc lifted its holdings in TE Connectivity by 1.4% during the 4th quarter. Impax Asset Management Group plc now owns 3,774,896 shares of the electronics maker’s stock valued at $529,798,000 after buying an additional 51,866 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in TE Connectivity by 12.5% during the 4th quarter. Wellington Management Group LLP now owns 3,630,003 shares of the electronics maker’s stock valued at $510,015,000 after buying an additional 403,750 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on TEL shares. JPMorgan Chase & Co. decreased their price objective on shares of TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. HSBC downgraded shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 target price on the stock. in a research report on Wednesday, July 24th. Vertical Research assumed coverage on shares of TE Connectivity in a research report on Tuesday, July 23rd. They set a “hold” rating and a $155.00 target price on the stock. Jefferies Financial Group began coverage on shares of TE Connectivity in a research report on Tuesday, April 9th. They set a “buy” rating and a $180.00 target price on the stock. Finally, Wells Fargo & Company cut their price objective on shares of TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 25th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $158.45.

TE Connectivity Stock Performance

NYSE TEL traded down $4.91 on Friday, hitting $145.40. 1,893,852 shares of the company’s stock traded hands, compared to its average volume of 2,001,858. The company has a current ratio of 1.51, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23. TE Connectivity Ltd. has a 1-year low of $115.00 and a 1-year high of $159.98. The firm’s 50-day moving average price is $151.29 and its two-hundred day moving average price is $145.78. The firm has a market capitalization of $44.19 billion, a PE ratio of 13.30, a P/E/G ratio of 2.04 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.91 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 business had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the previous year, the business posted $1.77 EPS. The business’s quarterly revenue was up .1% compared to the same quarter last year. As a group, analysts expect that TE Connectivity Ltd. will post 7.56 EPS for the current year.

Insider Buying and Selling at TE Connectivity

In related news, SVP Robert J. Ott sold 2,913 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total value of $450,320.67. Following the completion of the transaction, the senior vice president now directly owns 25,504 shares in the company, valued at approximately $3,942,663.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Robert J. Ott sold 2,913 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total value of $450,320.67. Following the completion of the transaction, the senior vice president now directly owns 25,504 shares in the company, valued at approximately $3,942,663.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Shadrak W. Kroeger sold 5,000 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $149.86, for a total transaction of $749,300.00. Following the completion of the transaction, the insider now owns 25,976 shares of the company’s stock, valued at $3,892,763.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,363 shares of company stock worth $11,791,461. Company insiders own 0.86% of the company’s stock.

TE Connectivity Company 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.