Coastal Bridge Advisors LLC bought a new stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,028 shares of the electronics maker's stock, valued at approximately $2,022,000.
Other hedge funds have also bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new position in TE Connectivity in the 4th quarter valued at $25,000. Geneos Wealth Management Inc. boosted its holdings in shares of TE Connectivity by 189.6% in the 2nd quarter. Geneos Wealth Management Inc. now owns 194 shares of the electronics maker's stock worth $33,000 after buying an additional 127 shares during the last quarter. Commonwealth Retirement Investments LLC purchased a new position in shares of TE Connectivity in the 4th quarter worth about $40,000. MV Capital Management Inc. bought a new position in TE Connectivity during the fourth quarter valued at about $41,000. Finally, Cornerstone Planning Group LLC boosted its stake in TE Connectivity by 118.2% in the fourth quarter. Cornerstone Planning Group LLC now owns 192 shares of the electronics maker's stock valued at $43,000 after acquiring an additional 104 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on TEL. Barclays raised their price target on shares of TE Connectivity from $297.00 to $300.00 and gave the stock an "overweight" rating in a research note on Monday, June 15th. Citigroup decreased their target price on TE Connectivity from $250.00 to $230.00 and set a "buy" rating for the company in a research report on Monday, July 13th. Wall Street Zen raised TE Connectivity from a "hold" rating to a "buy" rating in a research report on Sunday, August 23rd. Wells Fargo & Company cut their price target on TE Connectivity from $230.00 to $209.00 and set an "equal weight" rating for the company in a research note on Thursday, July 23rd. Finally, Zacks Research cut TE Connectivity from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $251.15.
Get Our Latest Stock Analysis on TE Connectivity
Insiders Place Their Bets
In other news, insider Shadrak W. Kroeger sold 9,400 shares of the company's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $215.00, for a total transaction of $2,021,000.00. Following the sale, the insider directly 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 filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by insiders.
TE Connectivity Stock Down 1.0%
TE Connectivity stock opened at $202.95 on Friday. The firm has a 50 day simple moving average of $205.54 and a 200 day simple moving average of $211.66. The company has a current ratio of 1.88, a quick ratio of 1.23 and a debt-to-equity ratio of 0.42. TE Connectivity Ltd. has a 1-year low of $190.27 and a 1-year high of $252.56. The firm has a market capitalization of $58.76 billion, a price-to-earnings ratio of 19.90, a P/E/G ratio of 1.37 and a beta of 1.16.
TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The electronics maker reported $2.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.09. TE Connectivity had a return on equity of 24.59% and a net margin of 15.61%.The firm had revenue of $5.16 billion for the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter in the prior year, the business posted $2.27 earnings per share. The business's quarterly revenue was up 13.8% on a year-over-year basis. TE Connectivity has set its Q4 2026 guidance at 3.050-3.050 EPS. On average, analysts predict that TE Connectivity Ltd. will post 11.48 earnings per share for the current year.
TE Connectivity Dividend Announcement
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 issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 21st. TE Connectivity's payout ratio is presently 30.59%.
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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