Berger Financial Group Inc Decreases Stock Position in TE Connectivity Ltd. $TEL

Key Points

• Berger Financial Group cut its TE Connectivity stake by 17.7% in the first quarter, selling 6,411 shares and leaving it with 29,740 shares worth about $6.2 million.
• TE Connectivity reported strong quarterly results, with EPS of $2.73 topping estimates and revenue of $4.74 billion, up 14.4% year over year.
• The company also boosted shareholder returns by approving a $3 billion share buyback and announcing a quarterly dividend of $0.78 per share, or $3.12 annualized.

Berger Financial Group Inc lessened its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 17.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,740 shares of the electronics maker's stock after selling 6,411 shares during the period. Berger Financial Group Inc's holdings in TE Connectivity were worth $6,216,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Brighton Jones LLC bought a new position in shares of TE Connectivity in the fourth quarter worth approximately $820,000. Sivia Capital Partners LLC raised its stake in shares of TE Connectivity by 66.7% during the second quarter. Sivia Capital Partners LLC now owns 2,517 shares of the electronics maker's stock valued at $425,000 after acquiring an additional 1,007 shares during the last quarter. Walleye Capital LLC raised its stake in shares of TE Connectivity by 14.6% during the second quarter. Walleye Capital LLC now owns 2,688 shares of the electronics maker's stock valued at $453,000 after acquiring an additional 343 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in shares of TE Connectivity by 1,214.0% during the second quarter. Squarepoint Ops LLC now owns 105,267 shares of the electronics maker's stock worth $17,755,000 after purchasing an additional 97,256 shares during the period. Finally, Ieq Capital LLC grew its stake in shares of TE Connectivity by 75.0% in the second quarter. Ieq Capital LLC now owns 23,284 shares of the electronics maker's stock worth $3,927,000 after purchasing an additional 9,980 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Stock Up 0.1%

TEL stock opened at $197.63 on Friday. TE Connectivity Ltd. has a fifty-two week low of $170.58 and a fifty-two week high of $252.56. The company has a market capitalization of $57.69 billion, a price-to-earnings ratio of 20.19, a price-to-earnings-growth ratio of 1.39 and a beta of 1.17. The business's 50 day moving average price is $207.92 and its two-hundred day moving average price is $218.05. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.20 and a current ratio of 1.89.

TE Connectivity (NYSE:TEL - Get Free Report) last released its earnings results on Wednesday, April 22nd. The electronics maker reported $2.73 EPS for the quarter, beating analysts' consensus estimates of $2.70 by $0.03. The company had revenue of $4.74 billion during the quarter, compared to analysts' expectations of $4.72 billion. TE Connectivity had a return on equity of 23.56% and a net margin of 15.54%.The firm's revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.10 EPS. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. As a group, analysts forecast that TE Connectivity Ltd. will post 11.33 earnings per share for the current fiscal year.

TE Connectivity announced that its board has approved a stock buyback program on Wednesday, March 11th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to repurchase up to 5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.

TE Connectivity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be given a $0.78 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.6%. TE Connectivity's dividend payout ratio is currently 31.87%.

Insider Activity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 9,400 shares of the firm's 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 completion of the transaction, the insider owned 25,976 shares of the company's stock, valued at approximately $5,584,840. This trade 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 accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 28,200 shares of company stock valued at $6,140,644. 0.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on TEL shares. Wall Street Zen downgraded TE Connectivity from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 2nd. Truist Financial cut their price objective on 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 TE Connectivity from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 8th. Wells Fargo & Company upped their target price on TE Connectivity from $226.00 to $230.00 and gave the company an "equal weight" rating in a report on Thursday, June 25th. Finally, Barclays raised their price target on TE Connectivity from $297.00 to $300.00 and gave the stock an "overweight" rating in a research note on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, TE Connectivity presently has a consensus rating of "Moderate Buy" and an average price target of $254.93.

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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