Andra AP fonden Lowers Stock Holdings in TE Connectivity Ltd. $TEL

Key Points

• Andra AP fonden reduced its TE Connectivity stake by 16.5% in the second quarter, selling 13,900 shares and retaining 70,594 shares valued at approximately $14.2 million. Institutional investors collectively own 91.43% of the company.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $252.00, despite one downgrade and some reduced price targets.
• TE Connectivity exceeded quarterly expectations, reporting $2.94 in EPS and $5.16 billion in revenue, while revenue increased 13.8% year over year. The company also declared a quarterly dividend of $0.78 per share, representing a 1.5% annualized yield.

Andra AP fonden lessened its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 16.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 70,594 shares of the electronics maker's stock after selling 13,900 shares during the quarter. Andra AP fonden's holdings in TE Connectivity were worth $14,232,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hsbc Holdings PLC boosted its holdings in TE Connectivity by 11.1% in the fourth quarter. Hsbc Holdings PLC now owns 230,034 shares of the electronics maker's stock valued at $52,506,000 after acquiring an additional 23,074 shares during the last quarter. Man Group plc increased its stake in TE Connectivity by 259.9% during the fourth quarter. Man Group plc now owns 1,252,434 shares of the electronics maker's stock worth $284,941,000 after acquiring an additional 904,468 shares during the last quarter. Swedbank AB raised its holdings in shares of TE Connectivity by 8.1% in the 4th quarter. Swedbank AB now owns 84,831 shares of the electronics maker's stock worth $19,300,000 after purchasing an additional 6,385 shares during the period. Benjamin Edwards Inc. lifted its stake in shares of TE Connectivity by 324.9% in the 2nd quarter. Benjamin Edwards Inc. now owns 62,370 shares of the electronics maker's stock valued at $12,574,000 after purchasing an additional 47,691 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of TE Connectivity by 34.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 773,242 shares of the electronics maker's stock valued at $175,920,000 after purchasing an additional 197,369 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company's stock.

Analyst Ratings Changes

TEL has been the subject of a number of research analyst reports. Zacks Research downgraded shares of TE Connectivity from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 8th. Barclays boosted their price objective 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. Citigroup dropped their price objective on shares of TE Connectivity from $250.00 to $230.00 and set a "buy" rating for the company in a research report on Monday, July 13th. Weiss Ratings restated a "buy (b)" rating on shares of TE Connectivity in a report on Friday, July 24th. Finally, UBS Group reaffirmed a "buy" rating and set 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 assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $252.00.

TE Connectivity Price Performance

TEL opened at $213.72 on Wednesday. The company has a fifty day simple moving average of $207.38 and a 200 day simple moving average of $208.78. The firm has a market cap of $61.87 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 1.41 and a beta of 1.16. TE Connectivity Ltd. has a twelve month low of $190.27 and a twelve month high of $252.56. The company has a current ratio of 1.88, a quick ratio of 1.23 and a debt-to-equity ratio of 0.42.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The electronics maker reported $2.94 EPS for the quarter, topping analysts' consensus estimates of $2.85 by $0.09. The firm 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 firm's revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.27 EPS. TE Connectivity has set its Q4 2026 guidance at 3.050-3.050 EPS. Equities research analysts expect that TE Connectivity Ltd. will post 11.48 EPS for the current fiscal year.

TE Connectivity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 20th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, November 20th. TE Connectivity's dividend payout ratio is 30.59%.

About TE Connectivity

TE Connectivity Ltd. NYSE: TEL designs and manufactures connectivity and sensor products used in transportation, industrial equipment, communications systems, data centers, aerospace and defense, medical technology, energy infrastructure, and consumer applications. Its products help transmit power, data and signals between components and systems.

The company's product portfolio includes connectors, terminals, relays, sensors, antennas, cable assemblies, circuit-protection devices, heat-shrink products and other components for electronic and electrical systems.

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