Employees Retirement System of Texas Buys 43,961 Shares of TE Connectivity Ltd. $TEL

Key Points

• Employees Retirement System of Texas dramatically increased its TE Connectivity stake in the fourth quarter, buying 43,961 additional shares and lifting its holdings to 47,077 shares worth about $10.7 million.
• TE Connectivity reported better-than-expected quarterly results, with EPS of $2.73 and revenue of $4.74 billion, while also raising its quarterly dividend to $0.78 per share from $0.71.
• The company’s board approved a $3 billion share repurchase program, and analyst sentiment remains constructive with a consensus rating of “Moderate Buy” and an average price target of $256.57.

Employees Retirement System of Texas raised its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 1,410.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,077 shares of the electronics maker's stock after purchasing an additional 43,961 shares during the period. Employees Retirement System of Texas' holdings in TE Connectivity were worth $10,710,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kohmann Bosshard Financial Services LLC bought a new position in shares of TE Connectivity during the 4th quarter valued at about $25,000. Caitlin John LLC bought a new position in shares of TE Connectivity in the 3rd quarter valued at about $28,000. Aster Capital Management DIFC Ltd bought a new position in shares of TE Connectivity in the 3rd quarter valued at about $29,000. Geneos Wealth Management Inc. lifted 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 valued at $33,000 after acquiring an additional 127 shares during the last quarter. Finally, JFS Wealth Advisors LLC lifted its holdings in shares of TE Connectivity by 54.6% in the 4th quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker's stock valued at $42,000 after acquiring an additional 65 shares during the last quarter. Institutional investors own 91.43% of the company's stock.

Insider Transactions at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 9,400 shares of TE Connectivity stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $215.00, for a total transaction of $2,021,000.00. Following the transaction, the insider directly owned 25,976 shares of the company's stock, valued at $5,584,840. This trade represents a 26.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 28,200 shares of company stock worth $6,211,332 over the last 90 days. Company insiders own 0.60% of the company's stock.

Analyst Upgrades and Downgrades

TEL has been the subject of a number of analyst reports. Wells Fargo & Company increased their price target on shares of TE Connectivity from $214.00 to $226.00 and gave the company an "equal weight" rating in a report on Thursday, April 23rd. Truist Financial lowered their price target on shares of TE Connectivity from $244.00 to $240.00 and set a "hold" rating for the company in a report on Thursday, April 23rd. Wall Street Zen downgraded shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 2nd. Oppenheimer increased their price target on shares of TE Connectivity from $270.00 to $285.00 and gave the company an "outperform" rating in a report on Friday, February 13th. Finally, Jefferies Financial Group raised shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 15th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, TE Connectivity presently has an average rating of "Moderate Buy" and a consensus target price of $256.57.

TE Connectivity Stock Up 3.1%

Shares of NYSE TEL opened at $209.16 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.89 and a quick ratio of 1.20. The company has a market cap of $61.05 billion, a P/E ratio of 21.36, a PEG ratio of 1.44 and a beta of 1.18. TE Connectivity Ltd. has a 1 year low of $158.09 and a 1 year high of $252.56. The firm has a 50-day simple moving average of $212.34 and a two-hundred day simple moving average of $222.77.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The electronics maker reported $2.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.03. The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.72 billion. TE Connectivity had a net margin of 15.54% and a return on equity of 23.56%. The firm's quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.10 earnings per share. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. Research analysts anticipate that TE Connectivity Ltd. will post 11.28 earnings per share for the current year.

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

TE Connectivity Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 22nd will be issued a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, May 22nd. This is a positive change from TE Connectivity's previous quarterly dividend of $0.71. This represents a $3.12 annualized dividend and a yield of 1.5%. TE Connectivity's dividend payout ratio is 31.87%.

TE Connectivity 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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