TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Forsta AP Fonden

Key Points

• Forsta AP Fonden reduced its stake in TE Connectivity by 4.9%, holding 108,200 shares worth $15.29 million after selling 5,600 shares in the first quarter.
• TE Connectivity's stock price increased by 1.1%, with current trading at $202.20, while its quarterly earnings exceeded estimates, reporting $2.27 EPS against a $2.08 consensus.
• The company recently announced a $0.71 dividend, equating to an annualized yield of 1.4%, with the ex-dividend date set for August 22nd.

Forsta AP Fonden lessened its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 4.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 108,200 shares of the electronics maker's stock after selling 5,600 shares during the quarter. Forsta AP Fonden's holdings in TE Connectivity were worth $15,291,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. boosted its stake in TE Connectivity by 1.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 17,540 shares of the electronics maker's stock valued at $2,479,000 after acquiring an additional 192 shares in the last quarter. J. Safra Sarasin Holding AG boosted its stake in TE Connectivity by 128.4% in the fourth quarter. J. Safra Sarasin Holding AG now owns 15,524 shares of the electronics maker's stock valued at $2,219,000 after acquiring an additional 8,728 shares in the last quarter. Beverly Hills Private Wealth LLC boosted its stake in TE Connectivity by 61.2% in the fourth quarter. Beverly Hills Private Wealth LLC now owns 11,103 shares of the electronics maker's stock valued at $1,587,000 after acquiring an additional 4,214 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of TE Connectivity by 11.8% during the fourth quarter. Ameriprise Financial Inc. now owns 5,603,251 shares of the electronics maker's stock worth $801,101,000 after buying an additional 592,072 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of TE Connectivity by 2.1% during the first quarter. Assenagon Asset Management S.A. now owns 24,879 shares of the electronics maker's stock worth $3,516,000 after buying an additional 511 shares during the period. Institutional investors and hedge funds own 91.43% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TEL. Bank of America increased their target price on shares of TE Connectivity from $168.00 to $190.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. Evercore ISI increased their target price on shares of TE Connectivity from $200.00 to $225.00 and gave the stock an "outperform" rating in a research note on Tuesday. Robert W. Baird increased their target price on shares of TE Connectivity from $185.00 to $210.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. HSBC upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 target price for the company in a research note on Thursday, April 24th. Finally, Wells Fargo & Company increased their target price on shares of TE Connectivity from $170.00 to $198.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 24th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, TE Connectivity currently has a consensus rating of "Moderate Buy" and a consensus price target of $197.55.

TE Connectivity Price Performance

Shares of TEL traded up $4.33 during mid-day trading on Tuesday, reaching $204.19. 1,334,383 shares of the company's stock were exchanged, compared to its average volume of 1,855,081. The company has a quick ratio of 0.96, a current ratio of 1.52 and a debt-to-equity ratio of 0.39. The company has a 50-day simple moving average of $179.25 and a two-hundred day simple moving average of $158.24. TE Connectivity Ltd. has a 52-week low of $116.30 and a 52-week high of $212.76. The company has a market cap of $60.33 billion, a price-to-earnings ratio of 42.28, a PEG ratio of 2.42 and a beta of 1.23.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The electronics maker reported $2.27 earnings per share for the quarter, topping analysts' consensus estimates of $2.08 by $0.19. TE Connectivity had a net margin of 8.78% and a return on equity of 20.22%. The business had revenue of $4.53 billion during the quarter, compared to analysts' expectations of $4.30 billion. During the same period last year, the company posted $1.91 EPS. The company's revenue was up 13.9% on a year-over-year basis. On average, sell-side analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity's payout ratio is presently 58.80%.

Insider Activity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $159.03, for a total value of $3,975,750.00. Following the completion of the sale, the insider directly owned 25,976 shares of the company's stock, valued at approximately $4,130,963.28. The trade was a 49.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Malavika Sagar sold 1,945 shares of TE Connectivity stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $207.20, for a total transaction of $403,004.00. Following the completion of the sale, the senior vice president directly owned 4,716 shares of the company's stock, valued at $977,155.20. The trade was a 29.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 138,795 shares of company stock valued at $26,401,597 over the last quarter. Insiders own 0.90% of the company's stock.

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.