TE Connectivity Ltd. (NYSE:TEL) Stake Cut by Tredje AP fonden

Tredje AP fonden cut its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 2.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 140,380 shares of the electronics maker’s stock after selling 3,601 shares during the quarter. Tredje AP fonden’s holdings in TE Connectivity were worth $20,070,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Amundi acquired a new stake in TE Connectivity in the fourth quarter worth $159,992,000. Nordea Investment Management AB acquired a new stake in TE Connectivity in the fourth quarter worth $149,211,000. Sumitomo Mitsui Trust Group Inc. increased its position in TE Connectivity by 2,330.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 753,572 shares of the electronics maker’s stock worth $107,738,000 after buying an additional 722,565 shares during the period. Franklin Resources Inc. increased its position in TE Connectivity by 31.1% in the third quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock worth $445,603,000 after buying an additional 712,228 shares during the period. Finally, EdgePoint Investment Group Inc. increased its position in TE Connectivity by 26.0% in the third quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock worth $508,481,000 after buying an additional 694,917 shares during the period. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Price Performance

NYSE:TEL opened at $143.09 on Thursday. The business’s 50-day moving average price is $148.44 and its 200 day moving average price is $148.62. The firm has a market cap of $42.69 billion, a P/E ratio of 22.86, a PEG ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a 52-week low of $137.61 and a 52-week high of $159.98. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) 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 firm 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 company earned $1.84 earnings per share. TE Connectivity’s 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 earnings per share for the current fiscal year.

Insider Activity at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the 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 completion of the transaction, the insider now owns 25,976 shares in the company, valued at $3,812,497.52. This trade represents a 49.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

TEL has been the topic of several analyst reports. Citigroup increased their target price on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. StockNews.com lowered TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Bank of America raised their price target on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Robert W. Baird raised their price target on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Finally, Truist Financial lowered their price target on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, TE Connectivity presently has a consensus rating of “Hold” and an average target price of $167.00.

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.