Allstate Corp Grows Position in TE Connectivity Ltd. $TEL

Key Points

• Allstate Corp boosted its stake in TE Connectivity by 103.1% in the fourth quarter, ending with 22,122 shares valued at about $5.03 million.
• TE Connectivity reported better-than-expected quarterly results, with EPS of $2.73 versus $2.70 expected and revenue of $4.74 billion, up 14.4% year over year.
• The company raised its quarterly dividend to $0.78 per share and authorized a $3 billion share buyback, while analysts generally maintain a Moderate Buy outlook with a consensus target price of $256.57.

Allstate Corp raised its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 103.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,122 shares of the electronics maker's stock after purchasing an additional 11,232 shares during the quarter. Allstate Corp's holdings in TE Connectivity were worth $5,033,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TEL. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of TE Connectivity in the fourth quarter valued at about $25,000. Caitlin John LLC acquired a new stake in shares of TE Connectivity in the third quarter valued at about $28,000. Aster Capital Management DIFC Ltd acquired a new stake in TE Connectivity during the 3rd quarter valued at approximately $29,000. Geneos Wealth Management Inc. grew its stake in TE Connectivity by 189.6% during the 2nd quarter. Geneos Wealth Management Inc. now owns 194 shares of the electronics maker's stock valued at $33,000 after purchasing an additional 127 shares in the last quarter. Finally, JFS Wealth Advisors LLC grew its stake in TE Connectivity by 54.6% during the 4th quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker's stock valued at $42,000 after purchasing an additional 65 shares in the last quarter. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

TE Connectivity Stock Up 3.1%

Shares of TE Connectivity stock opened at $209.16 on Wednesday. TE Connectivity Ltd. has a 1-year low of $158.09 and a 1-year high of $252.56. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.89 and a quick ratio of 1.20. The business's fifty day moving average price is $212.34 and its two-hundred day moving average price is $222.77. The company has a market capitalization of $61.05 billion, a P/E ratio of 21.36, a PEG ratio of 1.44 and a beta of 1.18.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The electronics maker reported $2.73 EPS for the quarter, topping analysts' consensus estimates of $2.70 by $0.03. TE Connectivity had a return on equity of 23.56% and a net margin of 15.54%.The company had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.72 billion. During the same quarter in the previous year, the business earned $2.10 EPS. The company's quarterly revenue was up 14.4% compared to the same quarter last year. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. As a group, research analysts forecast that TE Connectivity Ltd. will post 11.28 EPS for the current year.

TE Connectivity Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 22nd will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, May 22nd. This is a positive change from TE Connectivity's previous quarterly dividend of $0.71. TE Connectivity's payout ratio is presently 31.87%.

TE Connectivity declared that its Board of Directors has initiated a share buyback program on Wednesday, March 11th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to repurchase up to 5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

TEL has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price objective on TE Connectivity from $214.00 to $226.00 and gave the company an "equal weight" rating in a research note on Thursday, April 23rd. Jefferies Financial Group upgraded TE Connectivity from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 15th. Zacks Research upgraded TE Connectivity from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 27th. Oppenheimer lifted their target price on TE Connectivity from $270.00 to $285.00 and gave the stock an "outperform" rating in a research report on Friday, February 13th. Finally, Weiss Ratings raised TE Connectivity from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, April 29th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $256.57.

Insider Activity

In related news, insider Shadrak W. Kroeger sold 9,400 shares of TE Connectivity stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $215.00, for a total value of $2,021,000.00. Following the transaction, the insider directly owned 25,976 shares in the company, valued at $5,584,840. The trade was a 26.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 28,200 shares of company stock valued at $6,211,332. Insiders own 0.60% of the company's stock.

About TE Connectivity

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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