Bank of New York Mellon Corp Boosts Holdings in TE Connectivity Ltd. $TEL

Key Points

• Bank of New York Mellon increased its TE Connectivity stake by 3.4% in the fourth quarter, ending with 4.4 million shares valued at about $1.0 billion.
• TE Connectivity reported stronger-than-expected quarterly results, with EPS of $2.73 topping estimates and revenue rising 14.4% year over year to $4.74 billion.
• The company raised its quarterly dividend to $0.78 per share and authorized a $3 billion share buyback, while analysts keep a consensus Moderate Buy rating on the stock.

Bank of New York Mellon Corp lifted its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 3.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,403,794 shares of the electronics maker's stock after buying an additional 144,353 shares during the quarter. Bank of New York Mellon Corp owned about 1.50% of TE Connectivity worth $1,001,907,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TEL. Zacks Research raised shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 27th. Oppenheimer raised their target price on shares of TE Connectivity from $270.00 to $285.00 and gave the company an "outperform" rating in a research note on Friday, February 13th. UBS Group dropped their price target on TE Connectivity from $272.00 to $261.00 and set a "buy" rating on the stock in a research report on Thursday, April 23rd. Barclays lowered their price objective on TE Connectivity from $302.00 to $297.00 and set an "overweight" rating for the company in a research note on Thursday, April 23rd. Finally, The Goldman Sachs Group set a $286.00 target price on TE Connectivity in a research note on Wednesday, April 22nd. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, TE Connectivity presently has a consensus rating of "Moderate Buy" and a consensus price target of $256.57.

TE Connectivity Stock Performance

Shares of TEL opened at $214.57 on Wednesday. The company has a market cap of $62.63 billion, a price-to-earnings ratio of 21.92, a P/E/G ratio of 1.49 and a beta of 1.16. The business's fifty day simple moving average is $213.18 and its two-hundred day simple moving average is $221.82. TE Connectivity Ltd. has a 12 month low of $159.41 and a 12 month high of $252.56. The company has a current ratio of 1.89, a quick ratio of 1.20 and a debt-to-equity ratio of 0.42.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The electronics maker reported $2.73 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.72 billion. During the same period in the prior year, the company posted $2.10 earnings per share. The company's quarterly revenue was up 14.4% on a year-over-year basis. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. Research analysts anticipate that TE Connectivity Ltd. will post 11.28 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 22nd will be paid a $0.78 dividend. This is a boost from TE Connectivity's previous quarterly dividend of $0.71. 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. TE Connectivity's dividend payout ratio (DPR) is presently 31.87%.

TE Connectivity announced that its board has approved a share repurchase plan on Wednesday, March 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the electronics maker to reacquire up to 5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 9,400 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $215.00, for a total transaction of $2,021,000.00. Following the transaction, the insider owned 25,976 shares in the company, valued at $5,584,840. This represents a 26.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 28,200 shares of company stock worth $6,140,644 over the last three months. 0.60% of the stock is owned by insiders.

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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