Andra AP fonden Reduces Holdings in TE Connectivity Ltd. $TEL

Key Points

• Andra AP fonden reduced its TE Connectivity stake by 11.4% in the fourth quarter, selling 20,100 shares and leaving it with 156,200 shares valued at about $35.5 million.
• Insider selling also stood out, with executive Shadrak W. Kroeger selling 9,400 shares in a pre-arranged Rule 10b5-1 transaction; insiders have sold 28,200 shares over the last three months.
• TE Connectivity’s recent results and outlook were solid: the company beat quarterly EPS and revenue estimates, announced a $3 billion share repurchase program, and maintained a quarterly dividend of $0.78 per share.

Andra AP fonden trimmed its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 11.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 156,200 shares of the electronics maker's stock after selling 20,100 shares during the period. Andra AP fonden owned 0.05% of TE Connectivity worth $35,537,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Principal Securities Inc. lifted its position in shares of TE Connectivity by 25.0% in the 4th quarter. Principal Securities Inc. now owns 11,430 shares of the electronics maker's stock worth $2,600,000 after purchasing an additional 2,288 shares during the period. Aviva PLC lifted its position in TE Connectivity by 5.4% during the 4th quarter. Aviva PLC now owns 248,480 shares of the electronics maker's stock valued at $56,532,000 after acquiring an additional 12,818 shares during the period. Xponance LLC lifted its position in TE Connectivity by 18.3% during the 4th quarter. Xponance LLC now owns 35,182 shares of the electronics maker's stock valued at $8,004,000 after acquiring an additional 5,448 shares during the period. Keel Point LLC lifted its position in TE Connectivity by 5.2% during the 4th quarter. Keel Point LLC now owns 1,530 shares of the electronics maker's stock valued at $348,000 after acquiring an additional 75 shares during the period. Finally, IFM Investors Pty Ltd purchased a new position in TE Connectivity during the 4th quarter valued at about $13,211,000. 91.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 9,400 shares of TE Connectivity stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $215.00, for a total value of $2,021,000.00. Following the completion of the sale, the insider directly owned 25,976 shares in the company, valued at $5,584,840. The trade was a 26.57% decrease in their ownership of the stock. 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. Insiders have sold 28,200 shares of company stock valued at $6,140,644 in the last three months. Insiders own 0.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on TEL shares. Truist Financial lowered their price target on shares of TE Connectivity from $244.00 to $240.00 and set a "hold" rating for the company in a research report on Thursday, April 23rd. Wall Street Zen cut shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 2nd. Jefferies Financial Group raised shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 15th. The Goldman Sachs Group set a $286.00 price target on shares of TE Connectivity in a research report on Wednesday, April 22nd. Finally, Weiss Ratings raised shares of TE Connectivity from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, TE Connectivity currently has a consensus rating of "Moderate Buy" and an average price target of $256.57.

TE Connectivity Stock Up 2.8%

Shares of TE Connectivity stock opened at $207.62 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.20 and a current ratio of 1.89. The stock has a market capitalization of $60.60 billion, a PE ratio of 21.21, a price-to-earnings-growth ratio of 1.43 and a beta of 1.16. TE Connectivity Ltd. has a 52-week low of $162.17 and a 52-week high of $252.56. The company has a 50-day simple moving average of $214.53 and a two-hundred day simple moving average of $220.70.

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

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

TE Connectivity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be issued a $0.78 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $3.12 annualized dividend and a yield of 1.5%. TE Connectivity's payout ratio is 31.87%.

TE Connectivity Profile

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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