Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its position in shares of TE Connectivity Ltd. (NYSE:TEL – Free Report) by 15.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 65,778 shares of the electronics maker’s stock after selling 11,950 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in TE Connectivity were worth $14,965,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently bought and sold shares of TEL. Norges Bank purchased a new position in TE Connectivity during the fourth quarter worth about $938,706,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of TE Connectivity by 26,798.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,383,932 shares of the electronics maker’s stock valued at $303,815,000 after acquiring an additional 1,378,787 shares in the last quarter. Bank of America Corp DE boosted its position in shares of TE Connectivity by 27.5% during the 2nd quarter. Bank of America Corp DE now owns 6,274,917 shares of the electronics maker’s stock valued at $1,058,390,000 after acquiring an additional 1,352,152 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of TE Connectivity by 183.6% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,530,414 shares of the electronics maker’s stock worth $348,184,000 after purchasing an additional 990,703 shares in the last quarter. Finally, Balyasny Asset Management L.P. increased its position in shares of TE Connectivity by 243.2% in the third quarter. Balyasny Asset Management L.P. now owns 1,359,191 shares of the electronics maker’s stock worth $298,383,000 after purchasing an additional 963,123 shares during the last quarter. 91.43% of the stock is owned by institutional investors.
TE Connectivity Stock Down 3.6%
Shares of NYSE TEL opened at $212.70 on Friday. The stock has a market capitalization of $62.09 billion, a P/E ratio of 21.73, a PEG ratio of 1.51 and a beta of 1.16. TE Connectivity Ltd. has a one year low of $162.17 and a one year high of $252.56. The firm’s 50 day simple moving average is $214.26 and its two-hundred day simple moving average is $221.29. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.89 and a quick ratio of 1.20.
TE Connectivity declared that its Board of Directors has approved a share buyback program on Wednesday, March 11th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to purchase up to 5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
TE Connectivity Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 22nd will be given a dividend of $0.78 per share. The ex-dividend date is Friday, May 22nd. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.71. This represents a $3.12 annualized dividend and a yield of 1.5%. TE Connectivity’s dividend payout ratio (DPR) is currently 31.87%.
Insider Activity
In other news, insider Shadrak W. Kroeger sold 9,400 shares of TE Connectivity stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $215.00, for a total value of $2,021,000.00. Following the transaction, the insider owned 25,976 shares in the company, valued at approximately $5,584,840. The trade was a 26.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,200 shares of company stock worth $6,140,644 over the last quarter. 0.60% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the stock. Barclays lowered their target price on shares of TE Connectivity from $302.00 to $297.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. The Goldman Sachs Group set a $286.00 price target on shares of TE Connectivity in a report on Wednesday, April 22nd. Weiss Ratings raised shares of TE Connectivity from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, April 29th. Oppenheimer upped their target price on shares of TE Connectivity from $270.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. Finally, HSBC downgraded TE Connectivity from a “buy” rating to a “hold” rating and set a $234.00 price target on the stock. in a research report on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, TE Connectivity currently has an average rating of “Moderate Buy” and a consensus price target of $256.57.
Get Our Latest Report on TE Connectivity
TE Connectivity Profile
TE Connectivity (NYSE: TEL) is a global industrial technology company that designs and manufactures connectivity and sensor solutions used to enable the flow of power and data in a wide range of applications. Its product portfolio includes electrical connectors, cable and wire harness assemblies, sensors, relays and switches, fiber-optic and coaxial interconnects, and other passive and active components that provide mechanical and electrical connections in complex systems.
The company’s products and engineered solutions serve diverse end markets such as automotive and transportation, industrial equipment, data communications and networks, aerospace and defense, medical devices, and energy.
Featured Articles
- Five stocks we like better than TE Connectivity
- Samsara Just Answered The AI Question—Is Wall Street Ready To Listen?
- IREN’s 800MW Bet Flips the AI Power Switch
- CrowdStrike Earnings Beat Sparks Selloff—Buy the Dip?
- Tesla’s EV Rebound Leaves Rivian and Lucid Facing a Tougher Investor Test
Want to see what other hedge funds are holding TEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TE Connectivity Ltd. (NYSE:TEL – Free Report).
Receive News & Ratings for TE Connectivity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TE Connectivity and related companies with MarketBeat.com's FREE daily email newsletter.
