Fjarde AP Fonden Fourth Swedish National Pension Fund Has $10.34 Million Holdings in TE Connectivity Ltd. (NYSE:TEL)

Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 9.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 72,327 shares of the electronics maker’s stock after selling 7,200 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in TE Connectivity were worth $10,341,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its stake in TE Connectivity by 49.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 67,351 shares of the electronics maker’s stock valued at $10,169,000 after purchasing an additional 22,164 shares during the last quarter. Foundations Investment Advisors LLC bought a new position in shares of TE Connectivity during the 3rd quarter worth about $202,000. Private Advisor Group LLC raised its position in shares of TE Connectivity by 3.3% during the third quarter. Private Advisor Group LLC now owns 16,062 shares of the electronics maker’s stock valued at $2,425,000 after buying an additional 513 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of TE Connectivity in the third quarter valued at about $17,235,000. Finally, Dakota Wealth Management grew its position in TE Connectivity by 22.3% during the third quarter. Dakota Wealth Management now owns 13,599 shares of the electronics maker’s stock worth $2,053,000 after buying an additional 2,478 shares in the last quarter. 91.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. StockNews.com upgraded TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 19th. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective for the company in a research note on Thursday, January 23rd. Robert W. Baird lifted their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Wells Fargo & Company upped their target price on shares of TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday, January 23rd. Finally, Truist Financial cut their price target on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $167.00.

TE Connectivity Stock Performance

Shares of TEL stock opened at $154.55 on Monday. The company has a fifty day moving average price of $147.20 and a two-hundred day moving average price of $148.48. TE Connectivity Ltd. has a one year low of $137.61 and a one year high of $159.98. The stock has a market cap of $46.11 billion, a P/E ratio of 24.69, a P/E/G ratio of 2.11 and a beta of 1.32. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the firm earned $1.84 EPS. The firm’s revenue was up .1% compared to the same quarter last year. As a group, equities analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity declared that its board has approved a stock repurchase plan on Wednesday, October 30th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Transactions at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $151.13, for a total value of $587,744.57. Following the transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at $3,925,752.88. This represents a 13.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

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.