Gabelli Funds LLC Sells 9,900 Shares of TE Connectivity Ltd. $TEL

Key Points

• Gabelli Funds LLC trimmed its TE Connectivity stake by 9.0% in the fourth quarter, selling 9,900 shares and leaving it with 99,800 shares worth about $22.7 million.
• TE Connectivity posted solid quarterly results, with EPS of $2.73 and revenue of $4.74 billion, both slightly above analyst expectations; revenue rose 14.4% year over year.
• The company boosted returns to shareholders by raising its quarterly dividend to $0.78 per share and authorizing a $3 billion share repurchase plan, while analysts currently rate the stock a “Moderate Buy.”

Gabelli Funds LLC decreased its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 9.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 99,800 shares of the electronics maker's stock after selling 9,900 shares during the period. Gabelli Funds LLC's holdings in TE Connectivity were worth $22,705,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. HHM Wealth Advisors LLC increased its stake in shares of TE Connectivity by 11.8% in the 3rd quarter. HHM Wealth Advisors LLC now owns 407 shares of the electronics maker's stock valued at $89,000 after purchasing an additional 43 shares during the last quarter. Webster Bank N. A. increased its stake in shares of TE Connectivity by 19.1% in the 4th quarter. Webster Bank N. A. now owns 287 shares of the electronics maker's stock valued at $65,000 after purchasing an additional 46 shares during the last quarter. Great Lakes Advisors LLC increased its stake in shares of TE Connectivity by 3.4% in the 3rd quarter. Great Lakes Advisors LLC now owns 1,457 shares of the electronics maker's stock valued at $320,000 after purchasing an additional 48 shares during the last quarter. Contravisory Investment Management Inc. increased its stake in shares of TE Connectivity by 1.6% in the 4th quarter. Contravisory Investment Management Inc. now owns 3,074 shares of the electronics maker's stock valued at $699,000 after purchasing an additional 49 shares during the last quarter. Finally, Csenge Advisory Group increased its stake in shares of TE Connectivity by 3.2% in the 3rd quarter. Csenge Advisory Group now owns 1,602 shares of the electronics maker's stock valued at $352,000 after purchasing an additional 50 shares during the last quarter. Institutional investors own 91.43% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TEL. Truist Financial decreased their price target on TE Connectivity from $244.00 to $240.00 and set a "hold" rating on the stock in a research note on Thursday, April 23rd. Oppenheimer lifted their price target on TE Connectivity from $270.00 to $285.00 and gave the company an "outperform" rating in a research note on Friday, February 13th. Wells Fargo & Company lifted 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. HSBC lowered TE Connectivity from a "buy" rating to a "hold" rating and set a $234.00 price target on the stock. in a research note on Thursday, April 23rd. Finally, Zacks Research raised TE Connectivity from a "hold" rating to a "strong-buy" rating in a report on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $256.57.

TE Connectivity Trading Down 2.4%

NYSE TEL opened at $200.20 on Tuesday. The company has a quick ratio of 1.20, a current ratio of 1.89 and a debt-to-equity ratio of 0.42. TE Connectivity Ltd. has a twelve month low of $155.37 and a twelve month high of $252.56. The company has a market cap of $58.44 billion, a price-to-earnings ratio of 20.45, a price-to-earnings-growth ratio of 1.45 and a beta of 1.18. The business's fifty day moving average is $212.41 and its 200 day moving average is $224.57.

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

TE Connectivity Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 22nd will be paid a $0.78 dividend. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.6%. This is a positive change from TE Connectivity's previous quarterly dividend of $0.71. TE Connectivity's dividend payout ratio (DPR) is presently 29.01%.

TE Connectivity declared that its Board of Directors has initiated a share repurchase plan on Wednesday, March 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the electronics maker to purchase up to 5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Insider Activity

In other news, insider Shadrak W. Kroeger sold 9,400 shares of the business's stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $215.00, for a total value 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. The trade was a 26.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 28,200 shares of company stock valued at $6,211,332. 0.60% of the stock is owned by insiders.

About TE Connectivity

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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