Avanza Fonder AB Invests $4.07 Million in TE Connectivity Ltd. (NYSE:TEL)

Avanza Fonder AB purchased a new stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 28,631 shares of the electronics maker's stock, valued at approximately $4,074,000.

Other hedge funds have also bought and sold shares of the company. SRS Capital Advisors Inc. grew its position in TE Connectivity by 117.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker's stock valued at $28,000 after purchasing an additional 107 shares during the period. Fairway Wealth LLC acquired a new stake in TE Connectivity in the 4th quarter valued at $43,000. Golden State Wealth Management LLC acquired a new stake in TE Connectivity in the 4th quarter valued at $44,000. Deseret Mutual Benefit Administrators bought a new position in TE Connectivity during the 4th quarter valued at $57,000. Finally, Loomis Sayles & Co. L P lifted its stake in TE Connectivity by 32.6% during the 4th quarter. Loomis Sayles & Co. L P now owns 500 shares of the electronics maker's stock valued at $71,000 after acquiring an additional 123 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company's stock.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, EVP John S. Jenkins sold 20,400 shares of TE Connectivity stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $162.85, for a total transaction of $3,322,140.00. Following the completion of the transaction, the executive vice president now owns 24,625 shares of the company's stock, valued at $4,010,181.25. The trade was a 45.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Malavika Sagar sold 3,125 shares of TE Connectivity stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $160.00, for a total value of $500,000.00. Following the transaction, the senior vice president now directly owns 5,927 shares of the company's stock, valued at $948,320. The trade was a 34.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold 174,675 shares of company stock valued at $27,369,059 in the last quarter. 0.90% of the stock is currently owned by corporate insiders.

TE Connectivity Stock Performance

TE Connectivity stock traded down $3.52 during midday trading on Friday, reaching $162.48. The stock had a trading volume of 1,106,481 shares, compared to its average volume of 1,713,055. TE Connectivity Ltd. has a 12 month low of $116.30 and a 12 month high of $167.94. The firm's 50-day moving average price is $150.32 and its 200 day moving average price is $148.11. The firm has a market capitalization of $48.18 billion, a PE ratio of 25.96, a P/E/G ratio of 2.11 and a beta of 1.23. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.96 by $0.14. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business had revenue of $4.14 billion for the quarter, compared to analysts' expectations of $3.97 billion. During the same period in the previous year, the business posted $1.86 EPS. The firm's quarterly revenue was up 4.4% compared to the same quarter last year. As a group, research analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Friday, August 22nd. TE Connectivity's payout ratio is presently 62.42%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Truist Financial dropped their price objective on TE Connectivity from $163.00 to $156.00 and set a "hold" rating on the stock in a research note on Thursday, April 24th. UBS Group raised their price objective on TE Connectivity from $163.00 to $185.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Wall Street Zen cut TE Connectivity from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. HSBC upgraded TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price objective on the stock in a research note on Thursday, April 24th. Finally, Wells Fargo & Company lifted their target price on TE Connectivity from $148.00 to $156.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, TE Connectivity has an average rating of "Moderate Buy" and an average price target of $162.50.

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.