Bank of America Corp DE Lowers Holdings in TE Connectivity Ltd. $TEL

Key Points

• Bank of America reduced its TE Connectivity stake by 6% in the second quarter, selling 359,855 shares and retaining 5.59 million shares worth approximately $1.13 billion. Institutional investors collectively own 91.43% of the company.
• TE Connectivity exceeded quarterly expectations, reporting $2.94 in adjusted EPS versus the $2.85 consensus and revenue of $5.16 billion, up 13.8% year over year. The company guided to fourth-quarter EPS of $3.05.
• Analysts remain generally positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $252, compared with a recent share price of $203.21.

Bank of America Corp DE trimmed its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 6.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 5,593,891 shares of the electronics maker's stock after selling 359,855 shares during the quarter. Bank of America Corp DE owned about 1.93% of TE Connectivity worth $1,127,784,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TEL. Hsbc Holdings PLC grew its holdings in shares of TE Connectivity by 11.1% in the fourth quarter. Hsbc Holdings PLC now owns 230,034 shares of the electronics maker's stock worth $52,506,000 after acquiring an additional 23,074 shares during the period. Man Group plc lifted its holdings in TE Connectivity by 259.9% in the fourth quarter. Man Group plc now owns 1,252,434 shares of the electronics maker's stock valued at $284,941,000 after acquiring an additional 904,468 shares during the period. Swedbank AB boosted its position in TE Connectivity by 8.1% in the fourth 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 last quarter. Jefferies Financial Group Inc. grew its stake in shares of TE Connectivity by 575.9% during the 4th quarter. Jefferies Financial Group Inc. now owns 36,496 shares of the electronics maker's stock valued at $8,303,000 after purchasing an additional 31,096 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in TE Connectivity by 2,766.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 277,270 shares of the electronics maker's stock valued at $63,082,000 after buying an additional 267,598 shares during the last quarter. Institutional investors own 91.43% of the company's stock.

TE Connectivity Price Performance

Shares of TE Connectivity stock opened at $203.21 on Tuesday. The stock has a 50 day moving average of $206.43 and a 200 day moving average of $209.44. TE Connectivity Ltd. has a 12 month low of $190.27 and a 12 month high of $252.56. The firm has a market cap of $58.83 billion, a PE ratio of 19.92, a PEG ratio of 1.42 and a beta of 1.16. 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 released its quarterly earnings data on Wednesday, July 22nd. The electronics maker reported $2.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.85 by $0.09. The business had revenue of $5.16 billion for the quarter, compared to the consensus estimate of $5.01 billion. TE Connectivity had a return on equity of 24.59% and a net margin of 15.61%.The company's revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.27 EPS. TE Connectivity has set its Q4 2026 guidance at 3.050-3.050 EPS. On average, research analysts expect that TE Connectivity Ltd. will post 11.48 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TEL shares. UBS Group reissued a "buy" rating and set a $241.00 price target on shares of TE Connectivity in a report on Thursday, July 23rd. Zacks Research downgraded TE Connectivity from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 8th. Barclays increased their target price on shares of TE Connectivity from $297.00 to $300.00 and gave the stock an "overweight" rating in a report on Monday, June 15th. Wells Fargo & Company raised their target price on shares of TE Connectivity from $209.00 to $220.00 and gave the stock a "cautious" rating in a research note on Friday. Finally, Citigroup lowered their price target on shares of TE Connectivity from $250.00 to $230.00 and set a "buy" rating on the stock in a report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, TE Connectivity currently has an average rating of "Moderate Buy" and a consensus target price of $252.00.

TE Connectivity Company Profile

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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