Tredje AP fonden Has $35.90 Million Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Tredje AP fonden raised its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 3.5% in the second quarter, HoldingsChannel reports. The fund owned 238,629 shares of the electronics maker’s stock after acquiring an additional 8,000 shares during the period. Tredje AP fonden’s holdings in TE Connectivity were worth $35,897,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Simplicity Wealth LLC increased its position in TE Connectivity by 2.7% during the 2nd quarter. Simplicity Wealth LLC now owns 2,509 shares of the electronics maker’s stock worth $377,000 after purchasing an additional 67 shares in the last quarter. Silvercrest Asset Management Group LLC lifted its stake in shares of TE Connectivity by 2.3% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 2,977 shares of the electronics maker’s stock valued at $432,000 after acquiring an additional 68 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of TE Connectivity by 3.9% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,835 shares of the electronics maker’s stock valued at $267,000 after acquiring an additional 69 shares in the last quarter. Manchester Capital Management LLC increased its holdings in TE Connectivity by 5.4% in the 1st quarter. Manchester Capital Management LLC now owns 1,427 shares of the electronics maker’s stock worth $207,000 after purchasing an additional 73 shares in the last quarter. Finally, Miracle Mile Advisors LLC raised its position in TE Connectivity by 0.6% in the first quarter. Miracle Mile Advisors LLC now owns 13,326 shares of the electronics maker’s stock valued at $1,935,000 after purchasing an additional 75 shares during the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Price Performance

Shares of NYSE TEL opened at $147.78 on Wednesday. The company has a current ratio of 1.51, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23. The firm’s 50-day moving average price is $150.00 and its 200-day moving average price is $147.36. The firm has a market capitalization of $45.25 billion, a P/E ratio of 13.52, a P/E/G ratio of 1.96 and a beta of 1.33. TE Connectivity Ltd. has a 1-year low of $115.00 and a 1-year high of $159.98.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.05. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $4.01 billion. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. The company’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.77 earnings per share. Equities research analysts anticipate that TE Connectivity Ltd. will post 7.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on TEL shares. Wolfe Research raised TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. StockNews.com initiated coverage on shares of TE Connectivity in a research note on Friday, September 13th. They set a “buy” rating for the company. Bank of America boosted their price objective on shares of TE Connectivity from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Robert W. Baird lifted their target price on TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Truist Financial raised their price objective on TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, TE Connectivity has an average rating of “Hold” and a consensus price target of $158.45.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Aaron Kyle Stucki sold 8,750 shares of the firm’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $155.00, for a total value of $1,356,250.00. Following the transaction, the insider now directly owns 20,556 shares of the company’s stock, valued at $3,186,180. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Heath A. Mitts sold 59,700 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $154.70, for a total value of $9,235,590.00. Following the completion of the sale, the chief financial officer now directly owns 38,073 shares of the company’s stock, valued at $5,889,893.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Aaron Kyle Stucki sold 8,750 shares of TE Connectivity stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $155.00, for a total value of $1,356,250.00. Following the transaction, the insider now directly owns 20,556 shares in the company, valued at approximately $3,186,180. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,363 shares of company stock worth $11,042,161. 0.86% of the stock is owned by corporate insiders.

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.