DAVENPORT & Co LLC Cuts Stake in TE Connectivity Ltd. $TEL

Key Points

• DAVENPORT & Co LLC reduced its stake in TE Connectivity by 1.6% in Q2, owning 604,885 shares valued at approximately $101.7 million after selling 9,559 shares.
• The company has announced a quarterly dividend of $0.71 per share, to be paid on December 12, representing an annualized yield of 1.3%.
• TE Connectivity reported an EPS of $2.27 for the last quarter, exceeding analyst expectations, with revenue increasing by 13.9% year-over-year.

DAVENPORT & Co LLC reduced its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 1.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 604,885 shares of the electronics maker's stock after selling 9,559 shares during the quarter. DAVENPORT & Co LLC owned approximately 0.20% of TE Connectivity worth $101,714,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Keudell Morrison Wealth Management purchased a new stake in shares of TE Connectivity in the second quarter worth about $204,000. OLD National Bancorp IN increased its holdings in shares of TE Connectivity by 48.8% in the second quarter. OLD National Bancorp IN now owns 3,512 shares of the electronics maker's stock valued at $592,000 after purchasing an additional 1,152 shares during the last quarter. Berger Financial Group Inc boosted its holdings in TE Connectivity by 1.0% in the 2nd quarter. Berger Financial Group Inc now owns 37,849 shares of the electronics maker's stock valued at $6,384,000 after purchasing an additional 378 shares during the last quarter. Boston Common Asset Management LLC purchased a new position in shares of TE Connectivity during the 2nd quarter worth $5,023,000. Finally, 111 Capital increased its holdings in TE Connectivity by 435.1% in the 2nd quarter. 111 Capital now owns 9,124 shares of the electronics maker's stock valued at $1,539,000 after purchasing an additional 7,419 shares during the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other TE Connectivity news, EVP John S. Jenkins sold 45,850 shares of the firm's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $209.33, for a total value of $9,597,780.50. Following the completion of the transaction, the executive vice president directly owned 24,625 shares in the company, valued at $5,154,751.25. This trade represents a 65.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Shadrak W. Kroeger sold 23,850 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $202.99, for a total transaction of $4,841,311.50. Following the sale, the insider owned 25,976 shares in the company, valued at $5,272,868.24. This represents a 47.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 124,545 shares of company stock valued at $25,040,158 over the last ninety days. Corporate insiders own 0.90% of the company's stock.

TE Connectivity Price Performance

Shares of TEL opened at $221.00 on Monday. TE Connectivity Ltd. has a one year low of $116.30 and a one year high of $224.97. The firm has a market capitalization of $65.30 billion, a price-to-earnings ratio of 45.75, a price-to-earnings-growth ratio of 2.39 and a beta of 1.26. The stock's fifty day moving average is $208.91 and its 200-day moving average is $174.92. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.96 and a current ratio of 1.52.

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

TE Connectivity Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Citigroup increased their price objective on TE Connectivity from $230.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. Zacks Research cut shares of TE Connectivity from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 24th. Wells Fargo & Company increased their target price on TE Connectivity from $198.00 to $215.00 and gave the company an "equal weight" rating in a report on Thursday, September 25th. Weiss Ratings reiterated a "hold (c+)" rating on shares of TE Connectivity in a research note on Saturday, September 27th. Finally, UBS Group lifted their price target on shares of TE Connectivity from $185.00 to $201.00 and gave the company a "buy" rating in a research report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, TE Connectivity has an average rating of "Moderate Buy" and a consensus price target of $211.36.

TE Connectivity 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.

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