Forsta AP Fonden Acquires 36,700 Shares of TE Connectivity Ltd. (NYSE:TEL)

Forsta AP Fonden raised its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 47.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,800 shares of the electronics maker's stock after acquiring an additional 36,700 shares during the period. Forsta AP Fonden's holdings in TE Connectivity were worth $16,270,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Algert Global LLC bought a new position in shares of TE Connectivity in the 2nd quarter valued at $496,000. Creative Planning boosted its position in TE Connectivity by 2.4% in the second quarter. Creative Planning now owns 40,782 shares of the electronics maker's stock valued at $6,135,000 after buying an additional 962 shares in the last quarter. NewEdge Advisors LLC raised its position in TE Connectivity by 113.3% in the second quarter. NewEdge Advisors LLC now owns 30,001 shares of the electronics maker's stock valued at $4,513,000 after purchasing an additional 15,934 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in TE Connectivity by 14.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,168 shares of the electronics maker's stock valued at $1,228,000 after buying an additional 1,057 shares during the last quarter. Finally, Quarry LP acquired a new stake in TE Connectivity during the 2nd quarter worth approximately $108,000. Institutional investors own 91.43% of the company's stock.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction on 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.86% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on TEL. Hsbc Global Res raised shares of TE Connectivity from a "moderate sell" rating to a "hold" rating in a research note on Thursday, January 23rd. Truist Financial lowered their price objective on TE Connectivity from $165.00 to $163.00 and set a "hold" rating for the company in a research report on Thursday, January 23rd. Wells Fargo & Company raised their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an "equal weight" rating in a report on Thursday, January 23rd. StockNews.com upgraded shares of TE Connectivity from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, December 18th. Finally, Bank of America lifted their target price on TE Connectivity from $167.00 to $170.00 and gave the stock a "buy" rating in a report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, TE Connectivity has a consensus rating of "Moderate Buy" and a consensus price target of $167.00.

TE Connectivity Stock Up 1.2 %

NYSE TEL traded up $1.77 during trading hours on Thursday, hitting $149.48. The company's stock had a trading volume of 226,428 shares, compared to its average volume of 1,697,957. TE Connectivity Ltd. has a 52 week low of $137.61 and a 52 week high of $159.98. The company's 50-day simple moving average is $147.68 and its two-hundred day simple moving average is $148.75. The company has a market capitalization of $44.61 billion, a PE ratio of 23.88, a price-to-earnings-growth ratio of 2.12 and a beta of 1.32. The company has a current ratio of 1.68, a quick ratio of 1.08 and a debt-to-equity ratio of 0.26.

TE Connectivity (NYSE:TEL - Get Free Report) last announced 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 firm had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business's revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.84 EPS. Research analysts anticipate that TE Connectivity Ltd. will post 8.1 EPS for the current fiscal year.

TE Connectivity announced that its Board of Directors has initiated a stock buyback program on Wednesday, October 30th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its shares are undervalued.

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.