Amundi Sells 249,203 Shares of TE Connectivity Ltd. $TEL

Key Points

• Amundi cut its TE Connectivity stake by 11.0%, selling 249,203 shares and retaining 2,007,675 shares valued at approximately $404.8 million, or 0.69% of the company.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $251.15, though some firms recently lowered targets or downgraded their ratings.
• TE Connectivity exceeded quarterly expectations with $2.94 in EPS and $5.16 billion in revenue, while revenue rose 13.8% year over year. The company also declared a quarterly dividend of $0.78 per share, representing a 1.5% annualized yield.

Amundi lowered its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 11.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,007,675 shares of the electronics maker's stock after selling 249,203 shares during the period. Amundi owned 0.69% of TE Connectivity worth $404,767,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Gulf International Bank UK Ltd increased its position in TE Connectivity by 0.3% in the fourth quarter. Gulf International Bank UK Ltd now owns 14,999 shares of the electronics maker's stock worth $3,412,000 after purchasing an additional 44 shares during the period. MCF Advisors LLC boosted its stake in shares of TE Connectivity by 14.1% in the 4th quarter. MCF Advisors LLC now owns 364 shares of the electronics maker's stock valued at $83,000 after purchasing an additional 45 shares during the last quarter. CYBER HORNET ETFs LLC boosted its stake in shares of TE Connectivity by 5.6% in the 4th quarter. CYBER HORNET ETFs LLC now owns 887 shares of the electronics maker's stock valued at $202,000 after purchasing an additional 47 shares during the last quarter. Harbour Investments Inc. grew its position in shares of TE Connectivity by 4.2% during the 4th quarter. Harbour Investments Inc. now owns 1,193 shares of the electronics maker's stock worth $271,000 after buying an additional 48 shares during the period. Finally, Security National Bank of SO Dak raised its stake in shares of TE Connectivity by 0.5% during the second quarter. Security National Bank of SO Dak now owns 10,865 shares of the electronics maker's stock worth $1,833,000 after buying an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Robert W. Baird cut their price objective on shares of TE Connectivity from $240.00 to $225.00 and set an "outperform" rating on the stock in a report on Thursday, July 23rd. Evercore reaffirmed an "in-line" rating and set a $230.00 target price on shares of TE Connectivity in a report on Monday, June 22nd. Zacks Research cut shares of TE Connectivity from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 8th. Weiss Ratings reissued a "buy (b)" rating on shares of TE Connectivity in a research note on Friday, July 24th. Finally, UBS Group restated a "buy" rating and issued a $241.00 price target on shares of TE Connectivity in a research report on Thursday, July 23rd. One research 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. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $251.15.

TE Connectivity Stock Up 0.0%

Shares of TE Connectivity stock opened at $208.67 on Tuesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.88 and a quick ratio of 1.23. TE Connectivity Ltd. has a 1 year low of $190.27 and a 1 year high of $252.56. The business has a 50-day moving average of $205.82 and a two-hundred day moving average of $210.46. The company has a market capitalization of $60.41 billion, a P/E ratio of 20.46, a price-to-earnings-growth ratio of 1.40 and a beta of 1.16.

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

TE Connectivity Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Friday, August 21st. This represents a $3.12 dividend on an annualized basis and a yield of 1.5%. TE Connectivity's dividend payout ratio is 30.59%.

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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