Swedbank AB Grows Position in TE Connectivity Ltd. (NYSE:TEL)

Swedbank AB raised its position in TE Connectivity Ltd. (NYSE:TEL) by 1.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 70,792 shares of the electronics maker’s stock after acquiring an additional 684 shares during the quarter. Swedbank AB’s holdings in TE Connectivity were worth $10,689,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. lifted its position in shares of TE Connectivity by 112.4% during the 1st quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock worth $27,000 after purchasing an additional 100 shares during the last quarter. Versant Capital Management Inc lifted its holdings in TE Connectivity by 209.8% during the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock worth $28,000 after buying an additional 128 shares during the last quarter. Olistico Wealth LLC purchased a new position in shares of TE Connectivity in the 2nd quarter valued at about $30,000. Armstrong Advisory Group Inc. increased its holdings in shares of TE Connectivity by 208.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock valued at $34,000 after acquiring an additional 150 shares during the last quarter. Finally, Bank & Trust Co acquired a new stake in shares of TE Connectivity during the 2nd quarter worth about $35,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Heath A. Mitts sold 59,700 shares of TE Connectivity 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 sale, the chief financial officer now directly owns 38,073 shares in the company, valued at $5,889,893.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Robert J. Ott sold 2,913 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total value of $450,320.67. Following the completion of the sale, the senior vice president now owns 25,504 shares in the company, valued at $3,942,663.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Heath A. Mitts sold 59,700 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $154.70, for a total transaction of $9,235,590.00. Following the transaction, the chief financial officer now owns 38,073 shares in the company, valued at $5,889,893.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by insiders.

TE Connectivity Price Performance

Shares of NYSE TEL opened at $147.87 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.51 and a quick ratio of 0.99. The company has a market cap of $44.94 billion, a PE ratio of 13.30, a P/E/G ratio of 1.91 and a beta of 1.33. The stock has a fifty day moving average price of $147.90 and a 200 day moving average price of $148.12. TE Connectivity Ltd. has a 1-year low of $115.00 and a 1-year high of $159.98.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.05. The business had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.01 billion. TE Connectivity had a net margin of 21.94% and a return on equity of 18.53%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.77 earnings per share. Sell-side analysts forecast that TE Connectivity Ltd. will post 7.56 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on TEL shares. Wells Fargo & Company dropped their price target on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a research note on Friday, September 20th. The Goldman Sachs Group cut their price target on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Bank of America decreased their price objective on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. Finally, Robert W. Baird upped their target price on TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $161.82.

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.