Cooke & Bieler LP Sells 367,444 Shares of TE Connectivity Ltd. $TEL

Key Points

• Cooke & Bieler LP sharply reduced its TE Connectivity stake in Q4, selling 367,444 shares and cutting holdings by 98.9% to 4,260 shares worth about $969,000.
• TE Connectivity reported a strong quarter, with EPS of $2.73 topping estimates and revenue of $4.74 billion, up 14.4% year over year.
• The company boosted shareholder returns by authorizing a $3 billion share buyback and raising its quarterly dividend to $0.78 per share from $0.71.

Cooke & Bieler LP lessened its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 98.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,260 shares of the electronics maker's stock after selling 367,444 shares during the quarter. Cooke & Bieler LP's holdings in TE Connectivity were worth $969,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TEL. Kohmann Bosshard Financial Services LLC purchased a new stake in TE Connectivity during the fourth quarter valued at $25,000. Caitlin John LLC bought a new position in TE Connectivity in the 3rd quarter valued at $28,000. Aster Capital Management DIFC Ltd purchased a new position in TE Connectivity in the 3rd quarter worth about $29,000. Geneos Wealth Management Inc. increased its position in shares of TE Connectivity by 189.6% during the second quarter. Geneos Wealth Management Inc. now owns 194 shares of the electronics maker's stock worth $33,000 after acquiring an additional 127 shares during the period. Finally, JFS Wealth Advisors LLC increased its holdings in TE Connectivity by 54.6% during the 4th quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker's stock worth $42,000 after purchasing an additional 65 shares during the period. Institutional investors own 91.43% of the company's stock.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $202.83 on Tuesday. The stock has a market cap of $59.21 billion, a PE ratio of 20.72, a price-to-earnings-growth ratio of 1.44 and a beta of 1.18. 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 business's fifty day moving average price is $212.14 and its two-hundred day moving average price is $223.05. TE Connectivity Ltd. has a one year low of $155.37 and a one year high of $252.56.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.72 billion. During the same quarter in the previous year, the business posted $2.10 earnings per share. The company's revenue was up 14.4% on a year-over-year basis. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. On average, analysts forecast that TE Connectivity Ltd. will post 11.28 EPS for the current fiscal year.

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

TE Connectivity Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 22nd will be issued a $0.78 dividend. The ex-dividend date is Friday, May 22nd. 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 yield of 1.5%. TE Connectivity's payout ratio is 29.01%.

Insider Transactions at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 9,400 shares of the firm's stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $215.00, for a total value of $2,021,000.00. Following the transaction, the insider owned 25,976 shares in the company, valued at approximately $5,584,840. This trade represents a 26.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 28,200 shares of company stock worth $6,211,332. 0.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TEL. Weiss Ratings raised shares of TE Connectivity from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, April 29th. Oppenheimer boosted their target price on shares of TE Connectivity from $270.00 to $285.00 and gave the company an "outperform" rating in a research report on Friday, February 13th. HSBC lowered shares of TE Connectivity from a "buy" rating to a "hold" rating and set a $234.00 price target for the company. in a report on Thursday, April 23rd. Wall Street Zen lowered shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 2nd. Finally, Wells Fargo & Company upped their price target on TE Connectivity from $214.00 to $226.00 and gave the company an "equal weight" rating in a research note on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, TE Connectivity currently has a consensus rating of "Moderate Buy" and an average price target of $256.57.

TE Connectivity Company 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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