Dakota Wealth Management Trims Position in TE Connectivity Ltd. $TEL

Key Points

• Dakota Wealth Management reduced its stake in TE Connectivity Ltd. by 49.5%, ending up with 7,490 shares worth approximately $1.26 million following the sale of 7,352 shares in Q2.
• TE Connectivity reported a quarterly earnings per share (EPS) of $2.27, surpassing estimates by $0.19, and had a year-over-year revenue increase of 13.9%.
• The company declared a quarterly dividend of $0.71 per share, with the ex-dividend date set for November 21st, translating to an annual yield of 1.3%.

Dakota Wealth Management trimmed its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 49.5% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 7,490 shares of the electronics maker's stock after selling 7,352 shares during the period. Dakota Wealth Management's holdings in TE Connectivity were worth $1,263,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in TEL. Costello Asset Management INC purchased a new position in TE Connectivity during the first quarter worth about $28,000. Millstone Evans Group LLC purchased a new position in TE Connectivity during the first quarter worth about $32,000. Kelly Lawrence W & Associates Inc. CA purchased a new position in TE Connectivity during the first quarter worth about $34,000. Ransom Advisory Ltd purchased a new position in TE Connectivity during the first quarter worth about $34,000. Finally, Dagco Inc. purchased a new position in TE Connectivity during the first quarter worth about $35,000. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Stock Up 1.3%

TEL stock opened at $217.16 on Friday. The company's 50 day simple moving average is $206.40 and its 200-day simple moving average is $171.94. The firm has a market capitalization of $64.17 billion, a PE ratio of 44.96, a P/E/G ratio of 2.55 and a beta of 1.23. TE Connectivity Ltd. has a 12 month low of $116.30 and a 12 month high of $221.00. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.52 and a quick ratio of 0.96.

TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The electronics maker reported $2.27 EPS for the quarter, beating the consensus estimate of $2.08 by $0.19. The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.30 billion. TE Connectivity had a net margin of 8.78% and a return on equity of 20.22%. The company's quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.91 earnings per share. TE Connectivity has set its Q4 2025 guidance at 2.270-2.270 EPS. Equities analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 21st will be given a $0.71 dividend. The ex-dividend date is Friday, November 21st. This represents a $2.84 annualized dividend and a dividend yield of 1.3%. TE Connectivity's dividend payout ratio is currently 58.80%.

Wall Street Analysts Forecast Growth

TEL has been the subject of several analyst reports. Evercore ISI increased their price target on shares of TE Connectivity from $200.00 to $225.00 and gave the stock an "outperform" rating in a report on Tuesday, August 12th. Citigroup increased their price target on shares of TE Connectivity from $230.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday. The Goldman Sachs Group restated a "buy" rating on shares of TE Connectivity in a research report on Friday, July 11th. KGI Securities upgraded shares of TE Connectivity to a "hold" rating in a research report on Thursday, July 24th. Finally, Bank of America upped their target price on shares of TE Connectivity from $168.00 to $190.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $202.91.

Insider Activity

In related news, EVP John S. Jenkins sold 45,850 shares of the company's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $209.33, for a total transaction of $9,597,780.50. Following the transaction, the executive vice president owned 24,625 shares of the company's stock, valued at approximately $5,154,751.25. This represents a 65.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Malavika Sagar sold 1,945 shares of the company's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $207.20, for a total transaction of $403,004.00. Following the transaction, the senior vice president directly owned 4,716 shares in the company, valued at $977,155.20. The trade was a 29.20% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 124,545 shares of company stock worth $25,040,158. 0.90% of the stock is currently owned by corporate insiders.

TE Connectivity Company Profile

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.