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

Handelsbanken Fonder AB boosted its holdings in TE Connectivity Ltd. (NYSE:TEL) by 4.8% during the 4th quarter, according to its most recent disclosure 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 quarter. Handelsbanken Fonder AB’s holdings in TE Connectivity were worth $19,301,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Criterion Capital Advisors LLC purchased a new position in TE Connectivity in the fourth quarter valued at $53,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in TE Connectivity by 1.0% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 28,084 shares of the electronics maker’s stock valued at $3,946,000 after buying an additional 282 shares during the last quarter. Signaturefd LLC increased its holdings in TE Connectivity by 9.8% in the fourth quarter. Signaturefd LLC now owns 6,911 shares of the electronics maker’s stock valued at $971,000 after buying an additional 615 shares during the last quarter. Nicholas Hoffman & Company LLC. purchased a new position in TE Connectivity in the fourth quarter valued at $208,000. Finally, abrdn plc grew its holdings in shares of TE Connectivity by 55.8% during the fourth quarter. abrdn plc now owns 137,007 shares of the electronics maker’s stock worth $19,249,000 after purchasing an additional 49,049 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TEL. Robert W. Baird raised their price objective on TE Connectivity from $147.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TE Connectivity in a report on Monday, April 1st. Citigroup began coverage on TE Connectivity in a report on Friday, January 5th. They set a “neutral” rating and a $146.00 price objective on the stock. Stifel Nicolaus raised their price objective on TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Finally, Jefferies Financial Group began coverage on TE Connectivity in a report on Tuesday, April 9th. They set a “buy” rating and a $180.00 price objective on the stock. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $153.30.

TE Connectivity Stock Performance

Shares of TEL stock opened at $143.77 on Tuesday. The stock has a market capitalization of $44.68 billion, a PE ratio of 13.64, a price-to-earnings-growth ratio of 2.00 and a beta of 1.39. TE Connectivity Ltd. has a 52-week low of $115.00 and a 52-week high of $147.98. The stock’s 50-day moving average price is $142.66 and its 200 day moving average price is $135.86. 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 issued its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.13. TE Connectivity had a return on equity of 18.93% and a net margin of 20.69%. The firm had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same quarter in the previous year, the firm posted $1.53 EPS. The firm’s revenue for the quarter was down .3% on a year-over-year basis. As a group, equities research analysts forecast that TE Connectivity Ltd. will post 7.59 EPS for the current year.

TE Connectivity Dividend Announcement

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

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of TE Connectivity stock in a transaction that occurred on Monday, January 29th. The stock was 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 of the company’s stock, valued at approximately $4,386,096. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.86% of the stock is owned by corporate insiders.

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.