Cardinal Capital Management Inc. bought a new position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 156,207 shares of the electronics maker's stock, valued at approximately $31,493,000. Cardinal Capital Management Inc. owned 0.05% of TE Connectivity as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of TEL. Norges Bank bought a new stake in shares of TE Connectivity during the fourth quarter worth approximately $938,706,000. J. Stern & Co. LLP acquired a new position in shares of TE Connectivity in the fourth quarter valued at approximately $445,402,000. Arrowstreet Capital Limited Partnership increased its stake in shares of TE Connectivity by 124.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,105,167 shares of the electronics maker's stock worth $706,457,000 after purchasing an additional 1,721,235 shares during the period. Bank of America Corp DE lifted its holdings in TE Connectivity by 27.5% during the 2nd quarter. Bank of America Corp DE now owns 6,274,917 shares of the electronics maker's stock worth $1,058,390,000 after purchasing an additional 1,352,152 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its holdings in TE Connectivity by 243.2% during the 3rd quarter. Balyasny Asset Management L.P. now owns 1,359,191 shares of the electronics maker's stock worth $298,383,000 after purchasing an additional 963,123 shares during the last quarter. 91.43% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have commented on TEL shares. Robert W. Baird decreased their price objective on TE Connectivity from $240.00 to $225.00 and set an "outperform" rating on the stock in a report on Thursday, July 23rd. Citigroup dropped their target price on TE Connectivity from $250.00 to $230.00 and set a "buy" rating for the company in a report on Monday, July 13th. UBS Group reissued a "buy" rating and issued a $241.00 target price on shares of TE Connectivity in a research report on Thursday, July 23rd. Evercore restated an "in-line" rating and issued a $230.00 price target on shares of TE Connectivity in a research note on Monday, June 22nd. Finally, Wall Street Zen raised shares of TE Connectivity from a "hold" rating to a "buy" rating in a research report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $251.15.
Get Our Latest Research Report on TE Connectivity
TE Connectivity Stock Performance
TE Connectivity stock opened at $218.73 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 1.88 and a debt-to-equity ratio of 0.42. The stock has a market cap of $63.32 billion, a PE ratio of 21.44, a P/E/G ratio of 1.43 and a beta of 1.16. TE Connectivity Ltd. has a 12-month low of $190.27 and a 12-month high of $252.56. The business's 50-day moving average price is $206.80 and its two-hundred day moving average price is $212.99.
TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The electronics maker reported $2.94 EPS for the quarter, topping analysts' consensus estimates of $2.85 by $0.09. The firm had revenue of $5.16 billion during the quarter, compared to analysts' expectations of $5.01 billion. TE Connectivity had a net margin of 15.61% and a return on equity of 24.59%. The business's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.27 earnings per share. TE Connectivity has set its Q4 2026 guidance at 3.050-3.050 EPS. As a group, analysts expect that TE Connectivity Ltd. will post 11.48 earnings per share for the current fiscal year.
TE Connectivity Announces Dividend
The business also recently announced 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 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, August 21st. TE Connectivity's payout ratio is presently 30.59%.
Insider Activity
In other news, insider Shadrak W. Kroeger sold 9,400 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $215.00, for a total value of $2,021,000.00. Following the completion of the transaction, the insider directly owned 25,976 shares in the company, valued at approximately $5,584,840. This represents a 26.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company's stock.
About TE Connectivity
(
Free Report)
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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