Lansforsakringar Fondforvaltning AB publ Makes New Investment in TE Connectivity Ltd. (NYSE:TEL)

Lansforsakringar Fondforvaltning AB publ bought a new position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 102,526 shares of the electronics maker's stock, valued at approximately $14,658,000.

Several other hedge funds have also recently bought and sold shares of TEL. Wellington Management Group LLP acquired a new position in TE Connectivity during the 4th quarter worth about $909,598,000. Vanguard Group Inc. increased its holdings in TE Connectivity by 14.2% during the 4th quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker's stock worth $4,629,225,000 after purchasing an additional 4,029,596 shares during the period. Norges Bank purchased a new stake in TE Connectivity during the 4th quarter worth about $508,199,000. Clearbridge Investments LLC increased its holdings in TE Connectivity by 72.1% during the 4th quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker's stock worth $581,148,000 after purchasing an additional 1,702,825 shares during the period. Finally, Amundi purchased a new stake in TE Connectivity during the 4th quarter worth about $159,992,000. Institutional investors and hedge funds own 91.43% of the company's stock.

Insider Activity at TE Connectivity

In related news, SVP Malavika Sagar sold 3,125 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $160.00, for a total value of $500,000.00. Following the completion of the sale, the senior vice president now directly owns 5,927 shares of the company's stock, valued at $948,320. This represents a 34.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the sale, the insider now directly owns 25,976 shares of the company's stock, valued at $3,812,497.52. The trade was a 49.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 174,675 shares of company stock valued at $27,062,559 in the last three months. 0.90% of the stock is currently owned by company insiders.

TE Connectivity Stock Down 1.0%

Shares of TEL traded down $1.56 during mid-day trading on Friday, reaching $159.99. The company's stock had a trading volume of 2,444,724 shares, compared to its average volume of 1,706,718. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $164.11. The stock has a market cap of $47.44 billion, a PE ratio of 25.56, a price-to-earnings-growth ratio of 2.11 and a beta of 1.24. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. The company's 50 day moving average is $144.78 and its 200 day moving average is $147.10.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its earnings results 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. The firm had revenue of $4.14 billion during the quarter, compared to analysts' expectations of $3.97 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business's revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.86 EPS. Equities analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be given a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This is a boost from TE Connectivity's previous quarterly dividend of $0.65. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.78%. TE Connectivity's dividend payout ratio is 62.42%.

Analysts Set New Price Targets

TEL has been the topic of several recent research reports. UBS Group upped their price target on TE Connectivity from $163.00 to $185.00 and gave the stock a "buy" rating in a report on Friday. Wells Fargo & Company upped their price target on TE Connectivity from $148.00 to $156.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. The Goldman Sachs Group cut their price target on TE Connectivity from $190.00 to $170.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Truist Financial cut their price target on TE Connectivity from $163.00 to $156.00 and set a "hold" rating on the stock in a report on Thursday, April 24th. Finally, Robert W. Baird upped their price target on TE Connectivity from $147.00 to $153.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, TE Connectivity presently has a consensus rating of "Moderate Buy" and an average price target of $162.50.

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.