Carnegie Investment Counsel Cuts Stock Position in TE Connectivity Ltd. $TEL

Key Points

• Carnegie Investment Counsel trimmed its TE Connectivity stake by 8.4% in Q4, selling 9,637 shares and ending the quarter with 104,980 shares valued at about $23.88 million.
• TE Connectivity beat Q1 expectations, reporting $2.72 EPS vs. $2.55 expected and $4.67B revenue (+21.7% YoY), and set Q2 EPS guidance at 2.65 while carrying an average analyst price target of $249.47 (Moderate Buy).
• Shareholder returns boosted: the company increased its quarterly dividend to $0.78 and authorized a $3.0 billion share buyback program to repurchase up to 5% of shares.

Carnegie Investment Counsel decreased its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 8.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 104,980 shares of the electronics maker's stock after selling 9,637 shares during the quarter. Carnegie Investment Counsel's holdings in TE Connectivity were worth $23,884,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Caitlin John LLC purchased a new position in TE Connectivity in the third quarter worth $28,000. Aster Capital Management DIFC Ltd purchased a new position in TE Connectivity in the third quarter worth $29,000. SOA Wealth Advisors LLC. raised its position in TE Connectivity by 47.4% in the third quarter. SOA Wealth Advisors LLC. now owns 168 shares of the electronics maker's stock worth $37,000 after acquiring an additional 54 shares in the last quarter. Barnes Dennig Private Wealth Management LLC purchased a new position in TE Connectivity in the third quarter worth $39,000. Finally, JFS Wealth Advisors LLC raised its position 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 acquiring an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company's stock.

Analyst Upgrades and Downgrades

TEL has been the subject of several research analyst reports. The Goldman Sachs Group set a $306.00 price objective on TE Connectivity in a research report on Wednesday, January 21st. Jefferies Financial Group reiterated a "buy" rating and issued a $250.00 price objective (down from $280.00) on shares of TE Connectivity in a research report on Tuesday, March 31st. Wall Street Zen upgraded TE Connectivity from a "buy" rating to a "strong-buy" rating in a research report on Sunday, January 11th. Barclays increased their price objective on TE Connectivity from $297.00 to $302.00 and gave the stock an "overweight" rating in a research report on Friday, January 23rd. Finally, Zacks Research cut TE Connectivity from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 23rd. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $249.47.

Insider Activity

In related news, SVP Reuben M. Shaffer sold 1,425 shares of TE Connectivity stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $234.23, for a total transaction of $333,777.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Shadrak W. Kroeger sold 9,400 shares of TE Connectivity stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $233.82, for a total value of $2,197,908.00. Following the sale, the insider owned 32,541 shares of the company's stock, valued at approximately $7,608,736.62. This represents a 22.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 42,345 shares of company stock worth $9,627,260 over the last 90 days. 0.60% of the stock is currently owned by corporate insiders.

TE Connectivity Trading Up 0.4%

Shares of TEL stock opened at $229.59 on Friday. TE Connectivity Ltd. has a fifty-two week low of $124.25 and a fifty-two week high of $250.67. The stock has a market cap of $67.37 billion, a P/E ratio of 33.13, a P/E/G ratio of 1.72 and a beta of 1.26. The business has a fifty day simple moving average of $216.11 and a 200-day simple moving average of $225.40. The company has a quick ratio of 1.07, a current ratio of 1.65 and a debt-to-equity ratio of 0.37.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings results on Wednesday, January 21st. The electronics maker reported $2.72 earnings per share for the quarter, beating analysts' consensus estimates of $2.55 by $0.17. TE Connectivity had a return on equity of 22.72% and a net margin of 11.41%.The business had revenue of $4.67 billion during the quarter, compared to analysts' expectations of $4.52 billion. During the same quarter last year, the business posted $1.95 earnings per share. The business's revenue for the quarter was up 21.7% on a year-over-year basis. TE Connectivity has set its Q2 2026 guidance at 2.650-2.650 EPS. On average, analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 22nd will be given a $0.78 dividend. This is an increase 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 1.4%. The ex-dividend date is Friday, May 22nd. TE Connectivity's dividend payout ratio (DPR) is 45.02%.

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

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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