116,179 Shares in TE Connectivity Ltd. $TEL Acquired by Summitry LLC

Key Points

• Summitry LLC acquired 116,179 shares of TE Connectivity valued at approximately $24.3 million, while institutional investors and hedge funds collectively own 91.43% of the company.
• TE Connectivity reported a quarterly earnings beat, with $2.94 in adjusted EPS and $5.16 billion in revenue, up 13.8% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $251.15.
• The company declared a quarterly dividend of $0.78 per share, equivalent to an annualized $3.12 payout and a 1.5% yield; shares recently traded near $206.34.

Summitry LLC purchased a new position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 116,179 shares of the electronics maker's stock, valued at approximately $24,284,000.

Several other large investors have also modified their holdings of TEL. Norges Bank acquired a new position in shares of TE Connectivity in the 4th quarter valued at $938,706,000. J. Stern & Co. LLP acquired a new stake in TE Connectivity during the 4th quarter worth $445,402,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of TE Connectivity by 124.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,105,167 shares of the electronics maker's stock valued at $706,457,000 after buying an additional 1,721,235 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of TE Connectivity by 27.5% during the second quarter. Bank of America Corp DE now owns 6,274,917 shares of the electronics maker's stock worth $1,058,390,000 after buying an additional 1,352,152 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in TE Connectivity by 183.6% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,530,414 shares of the electronics maker's stock valued at $348,184,000 after acquiring an additional 990,703 shares during the period. 91.43% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 9,400 shares of TE Connectivity stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $215.00, for a total transaction of $2,021,000.00. Following the completion of the sale, the insider directly owned 25,976 shares in the company, valued at approximately $5,584,840. This trade represents a 26.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Evercore reiterated an "in-line" rating and issued a $230.00 target price on shares of TE Connectivity in a research note on Monday, June 22nd. Wells Fargo & Company lowered their price objective on shares of TE Connectivity from $230.00 to $209.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 23rd. Robert W. Baird cut their price objective on shares of TE Connectivity from $240.00 to $225.00 and set an "outperform" rating for the company in a research report on Thursday, July 23rd. Barclays raised their target price on shares of TE Connectivity from $297.00 to $300.00 and gave the stock an "overweight" rating in a research note on Monday, June 15th. Finally, Jefferies Financial Group upgraded shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, TE Connectivity currently has a consensus rating of "Moderate Buy" and an average price target of $251.15.

TE Connectivity Trading Down 0.1%

NYSE:TEL opened at $206.34 on Friday. TE Connectivity Ltd. has a 1 year low of $190.27 and a 1 year high of $252.56. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.23 and a current ratio of 1.88. The stock has a fifty day moving average price of $206.12 and a two-hundred day moving average price of $214.24. The stock has a market capitalization of $59.74 billion, a price-to-earnings ratio of 20.23, a PEG ratio of 1.38 and a beta of 1.17.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The electronics maker reported $2.94 EPS for the quarter, topping the consensus estimate of $2.85 by $0.09. The company had revenue of $5.16 billion for the quarter, compared to analyst estimates of $5.01 billion. TE Connectivity had a net margin of 15.61% and a return on equity of 24.59%. The business's revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.27 EPS. TE Connectivity has set its Q4 2026 guidance at 3.050-3.050 EPS. As a group, sell-side analysts anticipate that TE Connectivity Ltd. will post 11.48 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 1.5%. The ex-dividend date is Friday, August 21st. TE Connectivity's dividend payout ratio is presently 30.59%.

TE Connectivity Profile

TE Connectivity NYSE: TEL is a global industrial technology company that designs and manufactures connectivity and sensor solutions used to enable the flow of power and data in a wide range of applications. Its product portfolio includes electrical connectors, cable and wire harness assemblies, sensors, relays and switches, fiber-optic and coaxial interconnects, and other passive and active components that provide mechanical and electrical connections in complex systems.

The company's products and engineered solutions serve diverse end markets such as automotive and transportation, industrial equipment, data communications and networks, aerospace and defense, medical devices, and energy.

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