TE Connectivity Ltd. (NYSE:TEL) Stock Position Decreased by Tredje AP fonden

Tredje AP fonden trimmed its stake in TE Connectivity Ltd. (NYSE:TEL) by 2.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 140,380 shares of the electronics maker’s stock after selling 3,601 shares during the period. Tredje AP fonden’s holdings in TE Connectivity were worth $20,070,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Avantax Advisory Services Inc. lifted its holdings in TE Connectivity by 12.6% in the 4th quarter. Avantax Advisory Services Inc. now owns 10,567 shares of the electronics maker’s stock worth $1,511,000 after purchasing an additional 1,183 shares during the last quarter. Securian Asset Management Inc. acquired a new stake in TE Connectivity in the 4th quarter worth approximately $2,286,000. Great Lakes Advisors LLC lifted its holdings in TE Connectivity by 19.1% in the 4th quarter. Great Lakes Advisors LLC now owns 2,486 shares of the electronics maker’s stock worth $355,000 after purchasing an additional 399 shares during the last quarter. Truvestments Capital LLC lifted its holdings in TE Connectivity by 15.5% in the 4th quarter. Truvestments Capital LLC now owns 1,112 shares of the electronics maker’s stock worth $159,000 after purchasing an additional 149 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in TE Connectivity by 31.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 941 shares of the electronics maker’s stock worth $134,000 after purchasing an additional 226 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the sale, the insider now directly owns 25,976 shares in the company, valued at $3,812,497.52. This represents a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on TEL shares. Citigroup boosted their target price on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target for the company in a report on Thursday, January 23rd. StockNews.com lowered TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Wells Fargo & Company upped their price target on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. Finally, Truist Financial cut their price target on TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, TE Connectivity presently has an average rating of “Hold” and a consensus target price of $167.00.

TE Connectivity Stock Performance

TEL opened at $143.09 on Thursday. The stock has a market cap of $42.69 billion, a PE ratio of 22.86, a P/E/G ratio of 2.11 and a beta of 1.32. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a 1 year low of $137.61 and a 1 year high of $159.98. The stock’s 50 day simple moving average is $148.44 and its 200-day simple moving average is $148.62.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. The business had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. TE Connectivity’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the previous year, the business posted $1.84 earnings per share. Sell-side analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current year.

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.