Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 7,200 Shares of TE Connectivity Ltd. (NYSE:TEL)

Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its holdings in TE Connectivity Ltd. (NYSE:TEL) by 9.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Pinnacle Bancorp Inc. bought a new stake in shares of TE Connectivity in the fourth quarter valued at approximately $26,000. Golden State Wealth Management LLC acquired a new position in TE Connectivity in the 4th quarter valued at $44,000. Hilltop National Bank bought a new stake in shares of TE Connectivity during the 4th quarter valued at $55,000. Deseret Mutual Benefit Administrators acquired a new stake in shares of TE Connectivity during the 4th quarter worth $57,000. Finally, Webster Bank N. A. bought a new position in shares of TE Connectivity in the fourth quarter worth $61,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

Insider Activity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $151.13, for a total value of $587,744.57. Following the completion of the sale, the insider now directly owns 25,976 shares in the company, valued at $3,925,752.88. This represents a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TEL. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective on the stock in a research note on Thursday, January 23rd. Truist Financial reduced their price target on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Bank of America boosted their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Wells Fargo & Company raised their target price on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Finally, StockNews.com raised TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 19th. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, TE Connectivity has a consensus rating of “Moderate Buy” and an average target price of $167.00.

TE Connectivity Trading Down 0.8 %

Shares of TEL stock opened at $154.55 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The firm has a market capitalization 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. TE Connectivity Ltd. has a twelve month low of $137.61 and a twelve month high of $159.98. The stock’s fifty day simple moving average is $147.20 and its 200 day simple moving average is $148.48.

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

TE Connectivity declared that its board has approved a share buyback program on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to purchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

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.