1832 Asset Management L.P. Sells 143,668 Shares of TE Connectivity Ltd. $TEL

Key Points

• 1832 Asset Management L.P. sold 143,668 shares of TE Connectivity, reducing its holdings by 25%, now owning 430,974 shares valued at approximately $60.9 million.
• Insider Aaron Kyle Stucki sold 52,900 shares valued at over $10 million, significantly reducing his ownership in the company.
• TE Connectivity recently reported strong earnings, beating estimates with an EPS of $2.27 and revenue of $4.53 billion for the quarter.

1832 Asset Management L.P. lowered its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 25.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 430,974 shares of the electronics maker's stock after selling 143,668 shares during the quarter. 1832 Asset Management L.P. owned approximately 0.15% of TE Connectivity worth $60,905,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Martingale Asset Management L P raised its holdings in shares of TE Connectivity by 3.6% in the 1st quarter. Martingale Asset Management L P now owns 1,807 shares of the electronics maker's stock valued at $255,000 after purchasing an additional 63 shares in the last quarter. Ballentine Partners LLC grew its position in shares of TE Connectivity by 1.4% in the 1st quarter. Ballentine Partners LLC now owns 4,975 shares of the electronics maker's stock worth $703,000 after buying an additional 68 shares during the last quarter. Vista Investment Management grew its position in shares of TE Connectivity by 0.5% in the 4th quarter. Vista Investment Management now owns 13,225 shares of the electronics maker's stock worth $1,891,000 after buying an additional 70 shares during the last quarter. Silvercrest Asset Management Group LLC grew its position in shares of TE Connectivity by 2.1% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 3,732 shares of the electronics maker's stock worth $534,000 after buying an additional 75 shares during the last quarter. Finally, Wedmont Private Capital grew its position in shares of TE Connectivity by 4.3% in the 1st quarter. Wedmont Private Capital now owns 1,944 shares of the electronics maker's stock worth $275,000 after buying an additional 80 shares during the last quarter. Institutional investors own 91.43% of the company's stock.

Insider Buying and Selling at TE Connectivity

In other news, insider Aaron Kyle Stucki sold 52,900 shares of the company's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $192.78, for a total value of $10,198,062.00. Following the sale, the insider directly owned 23,667 shares of the company's stock, valued at $4,562,524.26. This represents a 69.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shadrak W. Kroeger sold 25,000 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $159.03, for a total transaction of $3,975,750.00. Following the completion of the sale, the insider directly owned 25,976 shares in the company, valued at $4,130,963.28. This trade represents a 49.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 138,795 shares of company stock valued at $26,401,597 over the last quarter. Insiders own 0.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on TEL shares. KGI Securities raised shares of TE Connectivity to a "hold" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. lifted their price objective on shares of TE Connectivity from $186.00 to $204.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Vertical Research raised shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price objective on the stock in a research report on Friday, April 25th. Truist Financial lifted their price objective on shares of TE Connectivity from $156.00 to $200.00 and gave the stock a "hold" rating in a research report on Thursday, July 24th. Finally, Robert W. Baird upped their price target on shares of TE Connectivity from $185.00 to $210.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $197.55.

TE Connectivity Trading Up 2.3%

Shares of TE Connectivity stock opened at $204.8070 on Friday. The firm's 50 day simple moving average is $186.36 and its two-hundred day simple moving average is $161.57. The firm has a market capitalization of $60.52 billion, a price-to-earnings ratio of 42.40, a PEG ratio of 2.38 and a beta of 1.23. The company has a current ratio of 1.52, a quick ratio of 0.96 and a debt-to-equity ratio of 0.39. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $212.76.

TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The electronics maker reported $2.27 EPS for the quarter, beating the consensus estimate of $2.08 by $0.19. The business had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.30 billion. TE Connectivity had a net margin of 8.78% and a return on equity of 20.22%. The business's revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.91 EPS. TE Connectivity has set its Q4 2025 guidance at 2.270-2.270 EPS. Analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity's dividend payout ratio is 58.80%.

TE Connectivity Company 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.

Want to see what other hedge funds are holding TEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TE Connectivity Ltd. (NYSE:TEL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.