Allspring Global Investments Holdings LLC Increases Stake in TE Connectivity Ltd. $TEL

Key Points

• Allspring Global Investments Holdings LLC increased its stake in TE Connectivity Ltd. by 41.2% during the 2nd quarter, owning a total of 127,985 shares valued at approximately $21.79 million.
• TE Connectivity's recent earnings report showed an EPS of $2.27, exceeding estimates and indicating a 13.9% year-over-year revenue increase to $4.53 billion.
• The company announced a quarterly dividend of $0.71 per share, set to be paid on December 12, representing a 1.3% annual yield.

Allspring Global Investments Holdings LLC increased its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 41.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 127,985 shares of the electronics maker's stock after buying an additional 37,373 shares during the period. Allspring Global Investments Holdings LLC's holdings in TE Connectivity were worth $21,792,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Foresight Group Ltd Liability Partnership acquired a new position in TE Connectivity during the 1st quarter worth approximately $31,983,000. Cambridge Investment Research Advisors Inc. grew its holdings in TE Connectivity by 1.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 17,540 shares of the electronics maker's stock worth $2,479,000 after acquiring an additional 192 shares in the last quarter. Ascent Group LLC acquired a new position in TE Connectivity during the 1st quarter worth approximately $364,000. KLP Kapitalforvaltning AS grew its holdings in TE Connectivity by 3.5% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 110,533 shares of the electronics maker's stock worth $18,686,000 after acquiring an additional 3,700 shares in the last quarter. Finally, Modern Wealth Management LLC acquired a new position in TE Connectivity during the 1st quarter worth approximately $310,000. Institutional investors and hedge funds own 91.43% of the company's stock.

Insider Buying and Selling at TE Connectivity

In related news, SVP Malavika Sagar sold 1,945 shares of the company's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $207.20, for a total value of $403,004.00. Following the completion of the sale, the senior vice president owned 4,716 shares in the company, valued at $977,155.20. This represents a 29.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $10,198,062.00. Following the completion of the sale, the insider owned 23,667 shares of the company's stock, valued at approximately $4,562,524.26. This trade represents a 69.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 124,545 shares of company stock worth $25,040,158 in the last 90 days. Company insiders own 0.90% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Barclays assumed coverage on shares of TE Connectivity in a report on Tuesday, October 7th. They set an "overweight" rating and a $249.00 price target for the company. Citigroup upped their target price on shares of TE Connectivity from $230.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. Truist Financial upped their target price on shares of TE Connectivity from $156.00 to $200.00 and gave the company a "hold" rating in a report on Thursday, July 24th. Zacks Research cut shares of TE Connectivity from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 24th. Finally, Evercore ISI upped their target price on shares of TE Connectivity from $200.00 to $225.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $219.92.

TE Connectivity Stock Up 0.6%

TEL stock opened at $224.03 on Friday. The company has a fifty day moving average price of $212.03 and a 200 day moving average price of $179.18. TE Connectivity Ltd. has a 12 month low of $116.30 and a 12 month high of $226.50. The company has a market cap of $66.20 billion, a price-to-earnings ratio of 46.38, a price-to-earnings-growth ratio of 2.40 and a beta of 1.26. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.52 and a quick ratio of 0.96.

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

TE Connectivity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 21st will be given a $0.71 dividend. The ex-dividend date is Friday, November 21st. This represents a $2.84 annualized dividend and a yield of 1.3%. TE Connectivity's dividend payout ratio is 58.80%.

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.

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