Forsta AP Fonden Grows Position in TE Connectivity Ltd. (NYSE:TEL)

Forsta AP Fonden lifted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 47.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,800 shares of the electronics maker’s stock after buying an additional 36,700 shares during the quarter. Forsta AP Fonden’s holdings in TE Connectivity were worth $16,270,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Nomura Asset Management Co. Ltd. raised its stake in shares of TE Connectivity by 4.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker’s stock worth $36,732,000 after buying an additional 9,670 shares during the period. Glenmede Trust Co. NA raised its stake in TE Connectivity by 13.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker’s stock valued at $29,322,000 after purchasing an additional 23,755 shares during the last quarter. Venturi Wealth Management LLC raised its stake in TE Connectivity by 1,632.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker’s stock valued at $989,000 after purchasing an additional 6,169 shares during the last quarter. Waverton Investment Management Ltd raised its stake in TE Connectivity by 8.2% in the 3rd quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker’s stock valued at $213,089,000 after purchasing an additional 106,688 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in TE Connectivity by 21.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 69,349 shares of the electronics maker’s stock valued at $10,471,000 after purchasing an additional 12,140 shares during the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Price Performance

TEL stock opened at $147.54 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.08. The firm has a market capitalization of $44.04 billion, a P/E ratio of 23.57, a P/E/G ratio of 2.12 and a beta of 1.32. The business’s 50-day moving average is $147.69 and its two-hundred day moving average is $148.76. TE Connectivity Ltd. has a 1 year low of $137.61 and a 1 year high of $159.98.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results 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 company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. TE Connectivity’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the company earned $1.84 EPS. Analysts anticipate that TE Connectivity Ltd. will post 8.1 earnings per share for the current fiscal year.

TE Connectivity announced that its Board of Directors has authorized a stock repurchase program on Wednesday, October 30th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the electronics maker to reacquire up to 5.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling 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 stock was sold at an average price of $151.13, for a total value of $587,744.57. Following the sale, the insider now owns 25,976 shares of the company’s stock, valued at $3,925,752.88. This trade represents a 13.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.86% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. StockNews.com raised TE Connectivity from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. Truist Financial lowered 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. 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. Wells Fargo & Company increased 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, Robert W. Baird increased their price target on TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Seven 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’s stock. According to MarketBeat.com, TE Connectivity currently has an average rating of “Moderate Buy” and a consensus price target of $167.00.

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.