Nordea Investment Management AB Has $114.43 Million Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Nordea Investment Management AB lifted its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 5.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 812,537 shares of the electronics maker's stock after buying an additional 41,198 shares during the quarter. Nordea Investment Management AB owned about 0.26% of TE Connectivity worth $114,430,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Jones Financial Companies Lllp increased its position in TE Connectivity by 358.5% in the third quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker's stock worth $30,000 after purchasing an additional 190 shares during the period. Arlington Trust Co LLC acquired a new position in shares of TE Connectivity during the 3rd quarter worth about $35,000. Money Concepts Capital Corp grew its position in shares of TE Connectivity by 101.3% during the 4th quarter. Money Concepts Capital Corp now owns 322 shares of the electronics maker's stock worth $37,000 after buying an additional 162 shares during the period. Exchange Traded Concepts LLC grew its position in shares of TE Connectivity by 176.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 329 shares of the electronics maker's stock valued at $46,000 after purchasing an additional 210 shares during the period. Finally, Ronald Blue Trust Inc. grew its position in shares of TE Connectivity by 43.2% in the 3rd quarter. Ronald Blue Trust Inc. now owns 424 shares of the electronics maker's stock valued at $52,000 after purchasing an additional 128 shares during the period. 90.75% of the stock is owned by institutional investors.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly owns 30,459 shares in the company, valued at $4,386,096. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.86% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on TEL shares. Robert W. Baird boosted their target price on TE Connectivity from $147.00 to $155.00 and gave the company an "outperform" rating in a research note on Thursday, January 25th. Truist Financial upped their price objective on TE Connectivity from $148.00 to $153.00 and gave the stock a "hold" rating in a research note on Thursday, January 25th. StockNews.com upgraded TE Connectivity from a "buy" rating to a "strong-buy" rating in a research note on Thursday, March 14th. Wells Fargo & Company started coverage on TE Connectivity in a research note on Friday, December 15th. They set an "equal weight" rating and a $144.00 price objective on the stock. Finally, Citigroup started coverage on TE Connectivity in a research note on Friday, January 5th. They set a "neutral" rating and a $146.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, TE Connectivity has an average rating of "Moderate Buy" and a consensus price target of $146.67.

TE Connectivity Stock Performance

TEL traded up $0.66 during trading hours on Tuesday, reaching $140.66. The company's stock had a trading volume of 2,137,142 shares, compared to its average volume of 2,207,586. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.16 and a current ratio of 1.86. The company's 50-day moving average is $140.22 and its 200-day moving average is $132.84. TE Connectivity Ltd. has a 52 week low of $115.00 and a 52 week high of $146.84. The firm has a market cap of $43.72 billion, a PE ratio of 13.35, a price-to-earnings-growth ratio of 1.98 and a beta of 1.40.

TE Connectivity (NYSE:TEL - Get Free Report) last released its earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share (EPS) for the quarter, topping 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 company had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.87 billion. During the same period in the prior year, the firm posted $1.53 EPS. TE Connectivity's quarterly revenue was down .3% on a year-over-year basis. On average, equities analysts forecast that TE Connectivity Ltd. will post 7.57 EPS for the current year.

TE Connectivity announced that its board has approved a stock repurchase program on Tuesday, December 12th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the electronics maker to reacquire up to 3.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

TE Connectivity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be given a $0.65 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 annualized dividend and a yield of 1.85%. TE Connectivity's dividend payout ratio is presently 22.39%.

TE Connectivity 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.