Forsta AP Fonden Increases Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Forsta AP Fonden lifted its holdings in TE Connectivity Ltd. (NYSE:TEL) by 47.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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.

A number of other institutional investors have also recently modified their holdings of TEL. Pinnacle Bancorp Inc. purchased a new stake in shares of TE Connectivity in the fourth quarter valued at approximately $26,000. Armstrong Advisory Group Inc. boosted its stake in shares of TE Connectivity by 208.3% in the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock valued at $34,000 after buying an additional 150 shares in the last quarter. Wolff Wiese Magana LLC boosted its stake in shares of TE Connectivity by 2,450.0% in the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock valued at $39,000 after buying an additional 245 shares in the last quarter. Hilltop National Bank purchased a new stake in shares of TE Connectivity in the fourth quarter valued at approximately $55,000. Finally, Webster Bank N. A. purchased a new stake in shares of TE Connectivity in the fourth quarter valued at approximately $61,000. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction that occurred 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 completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.86% of the company’s stock.

TE Connectivity Price Performance

TEL stock opened at $147.54 on Thursday. The stock has a 50-day moving average price of $147.69 and a two-hundred day moving average price of $148.76. The company has a market cap of $44.04 billion, a PE ratio of 23.57, a price-to-earnings-growth ratio of 2.12 and a beta of 1.32. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-month high of $159.98. 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) last announced its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.84 EPS. As a group, research analysts predict that TE Connectivity Ltd. will post 8.1 EPS for the current year.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TEL shares. Wells Fargo & Company lifted their price objective on 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 raised TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 18th. 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. HSBC raised 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. Finally, Citigroup boosted their price target on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.