Handelsbanken Fonder AB Boosts Stake in TE Connectivity Ltd. (NYSE:TEL)

Handelsbanken Fonder AB raised its position in TE Connectivity Ltd. (NYSE:TEL) by 4.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 137,371 shares of the electronics maker’s stock after buying an additional 6,349 shares during the period. Handelsbanken Fonder AB’s holdings in TE Connectivity were worth $19,301,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TEL. Jones Financial Companies Lllp boosted its position in TE Connectivity by 358.5% in the 3rd quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker’s stock valued at $30,000 after buying an additional 190 shares during the last quarter. Bruce G. Allen Investments LLC bought a new position in shares of TE Connectivity during the fourth quarter worth about $30,000. Arlington Trust Co LLC bought a new position in shares of TE Connectivity during the third quarter worth about $35,000. Wetzel Investment Advisors Inc. bought a new position in shares of TE Connectivity during the fourth quarter worth about $45,000. Finally, Exchange Traded Concepts LLC lifted its position in shares of TE Connectivity by 176.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 329 shares of the electronics maker’s stock worth $46,000 after purchasing an additional 210 shares during the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $144.00, for a total value of $14,367,888.00. Following the sale, the insider now owns 30,459 shares in the company, valued at $4,386,096. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.86% of the stock is owned by company insiders.

TE Connectivity Stock Performance

Shares of NYSE TEL opened at $143.77 on Tuesday. The firm’s 50-day moving average price is $142.66 and its two-hundred day moving average price is $135.86. TE Connectivity Ltd. has a 52-week low of $115.00 and a 52-week high of $147.98. The stock has a market capitalization of $44.68 billion, a P/E ratio of 13.64, a P/E/G ratio of 2.00 and a beta of 1.39. The company has a quick ratio of 1.16, a current ratio of 1.86 and a debt-to-equity ratio of 0.27.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.84 EPS for the quarter, beating the consensus estimate of $1.71 by $0.13. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. The company had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.87 billion. During the same quarter last year, the business earned $1.53 earnings per share. TE Connectivity’s revenue was down .3% compared to the same quarter last year. As a group, sell-side analysts forecast that TE Connectivity Ltd. will post 7.59 earnings per share for the current year.

TE Connectivity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be paid a $0.65 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.60 annualized dividend and a dividend yield of 1.81%. TE Connectivity’s payout ratio is currently 22.39%.

Analyst Ratings Changes

TEL has been the topic of several research analyst reports. Truist Financial increased their price target on shares of TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. Citigroup initiated coverage on shares of TE Connectivity in a research report on Friday, January 5th. They set a “neutral” rating and a $146.00 price target on the stock. StockNews.com initiated coverage on shares of TE Connectivity in a report on Monday. They issued a “buy” rating on the stock. Finally, JPMorgan Chase & Co. raised their target price on shares of TE Connectivity from $169.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $153.30.

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.