Engineers Gate Manager LP Sells 9,580 Shares of TE Connectivity Ltd. $TEL

Key Points

• Engineers Gate Manager LP reduced its TE Connectivity stake by 17% in the second quarter, selling 9,580 shares and retaining 46,918 shares valued at approximately $9.46 million.
• Institutional investors and hedge funds own 91.43% of TE Connectivity, with several firms increasing their positions while Cidel Asset Management initiated a new $20.26 million stake.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and a $251.15 average price target. TE Connectivity recently beat quarterly earnings and revenue estimates, reporting $2.94 EPS and $5.16 billion in revenue.

Engineers Gate Manager LP lessened its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 17.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,918 shares of the electronics maker's stock after selling 9,580 shares during the period. Engineers Gate Manager LP's holdings in TE Connectivity were worth $9,459,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cidel Asset Management Inc. bought a new stake in shares of TE Connectivity during the 2nd quarter valued at $20,259,000. Integrated Wealth Concepts LLC increased its position in shares of TE Connectivity by 19.4% in the second quarter. Integrated Wealth Concepts LLC now owns 5,707 shares of the electronics maker's stock worth $1,151,000 after purchasing an additional 926 shares during the period. RFG Advisory LLC raised its stake in TE Connectivity by 11.5% in the second quarter. RFG Advisory LLC now owns 1,726 shares of the electronics maker's stock valued at $348,000 after purchasing an additional 178 shares in the last quarter. NewEdge Advisors LLC lifted its position in TE Connectivity by 8.0% during the second quarter. NewEdge Advisors LLC now owns 27,746 shares of the electronics maker's stock worth $5,594,000 after purchasing an additional 2,049 shares during the period. Finally, IFP Advisors Inc lifted its position in TE Connectivity by 4.1% during the second quarter. IFP Advisors Inc now owns 1,761 shares of the electronics maker's stock worth $355,000 after purchasing an additional 69 shares during the period. 91.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TEL has been the subject of several analyst reports. Zacks Research cut shares of TE Connectivity from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 8th. Citigroup reduced their price target on shares of TE Connectivity from $250.00 to $230.00 and set a "buy" rating on the stock in a research report on Monday, July 13th. Barclays lifted their price objective on shares of TE Connectivity from $297.00 to $300.00 and gave the company an "overweight" rating in a research note on Monday, June 15th. UBS Group restated a "buy" rating and set a $241.00 target price on shares of TE Connectivity in a research note on Thursday, July 23rd. Finally, Wall Street Zen raised TE Connectivity from a "hold" rating to a "buy" rating in a research note on Sunday, August 23rd. 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. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $251.15.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $204.38 on Friday. The firm has a market cap of $59.17 billion, a PE ratio of 20.04, a price-to-earnings-growth ratio of 1.37 and a beta of 1.16. The firm's fifty day moving average is $206.08 and its 200-day moving average is $209.84. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.23 and a current ratio of 1.88. TE Connectivity Ltd. has a 52 week low of $190.27 and a 52 week high of $252.56.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The electronics maker reported $2.94 earnings per share for the quarter, beating analysts' consensus estimates of $2.85 by $0.09. The business had revenue of $5.16 billion during the quarter, compared to the consensus estimate of $5.01 billion. TE Connectivity had a return on equity of 24.59% and a net margin of 15.61%.TE Connectivity's quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.27 earnings per share. TE Connectivity has set its Q4 2026 guidance at 3.050-3.050 EPS. Sell-side analysts predict that TE Connectivity Ltd. will post 11.48 earnings per share for the current year.

TE Connectivity Company Profile

TE Connectivity Ltd. NYSE: TEL designs and manufactures connectivity and sensor products used in transportation, industrial equipment, communications systems, data centers, aerospace and defense, medical technology, energy infrastructure, and consumer applications. Its products help transmit power, data and signals between components and systems.

The company's product portfolio includes connectors, terminals, relays, sensors, antennas, cable assemblies, circuit-protection devices, heat-shrink products and other components for electronic and electrical systems.

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