Barclays PLC Reduces Holdings in TE Connectivity Ltd. $TEL

Key Points

• Barclays PLC trimmed its TE Connectivity position by 11.4% in the fourth quarter, selling 85,822 shares and ending with 665,677 shares valued at about $151.4 million.
• TE Connectivity reported solid quarterly results, with EPS of $2.73 beating estimates and revenue of $4.74 billion slightly above expectations, while revenue rose 14.4% year over year.
• The company is returning cash to shareholders through a quarterly dividend of $0.78 per share and a newly authorized $3 billion share buyback program, signaling management confidence in the stock.

Barclays PLC decreased its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 11.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 665,677 shares of the electronics maker's stock after selling 85,822 shares during the quarter. Barclays PLC owned 0.23% of TE Connectivity worth $151,448,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in TEL. State of New Jersey Common Pension Fund D raised its stake in TE Connectivity by 7.0% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 103,287 shares of the electronics maker's stock worth $22,675,000 after acquiring an additional 6,755 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in TE Connectivity by 2,766.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 277,270 shares of the electronics maker's stock worth $63,082,000 after acquiring an additional 267,598 shares during the period. Darwin Wealth Management LLC bought a new stake in TE Connectivity during the 4th quarter worth approximately $1,983,000. Power Wealth Management LLC raised its stake in TE Connectivity by 226.5% during the 3rd quarter. Power Wealth Management LLC now owns 8,979 shares of the electronics maker's stock worth $1,971,000 after acquiring an additional 6,229 shares during the period. Finally, NewEdge Wealth LLC raised its stake in TE Connectivity by 20.4% during the 4th quarter. NewEdge Wealth LLC now owns 41,715 shares of the electronics maker's stock worth $9,491,000 after acquiring an additional 7,057 shares during the period. Hedge funds and other institutional investors own 91.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TEL shares. Truist Financial reduced their price objective on shares of TE Connectivity from $244.00 to $240.00 and set a "hold" rating on the stock in a research report on Thursday, April 23rd. Zacks Research cut shares of TE Connectivity from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 8th. 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. The Goldman Sachs Group set a $286.00 price objective on shares of TE Connectivity in a research report on Wednesday, April 22nd. Finally, Jefferies Financial Group upgraded shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $256.79.

Insider Buying and Selling

In other TE Connectivity news, insider Shadrak W. Kroeger sold 9,400 shares of TE Connectivity stock in a transaction 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 completion of the transaction, the insider directly owned 25,976 shares of the company's stock, valued at $5,584,840. The trade was a 26.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 ninety days. 0.60% of the stock is owned by insiders.

TE Connectivity Trading Up 2.6%

TEL stock opened at $215.88 on Tuesday. The firm has a fifty day moving average price of $214.64 and a 200 day moving average price of $220.59. TE Connectivity Ltd. has a fifty-two week low of $162.17 and a fifty-two week high of $252.56. 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 firm has a market cap of $63.02 billion, a PE ratio of 22.05, a price-to-earnings-growth ratio of 1.49 and a beta of 1.16.

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

TE Connectivity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, August 21st. TE Connectivity's payout ratio is presently 31.87%.

TE Connectivity announced that its Board of Directors has initiated a share buyback plan on Wednesday, March 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the electronics maker to purchase up to 5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.