Gamco Investors INC. ET AL Sells 7,433 Shares of TE Connectivity Ltd. $TEL

Key Points

• Gamco Investors cut its TE Connectivity stake by 50.1% in the first quarter, selling 7,433 shares and retaining 7,405 shares valued at approximately $1.55 million.
• Institutional ownership remains high at 91.43%, with Vanguard, State Street, Geode Capital and other major investors increasing their positions.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $251.15. TE Connectivity recently exceeded quarterly earnings and revenue estimates and announced a quarterly dividend of $0.78 per share.

Gamco Investors INC. ET AL decreased its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 50.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,405 shares of the electronics maker's stock after selling 7,433 shares during the quarter. Gamco Investors INC. ET AL's holdings in TE Connectivity were worth $1,548,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of TE Connectivity by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 38,421,283 shares of the electronics maker's stock worth $8,741,226,000 after buying an additional 168,142 shares during the period. State Street Corp raised its position in shares of TE Connectivity by 0.6% in the 4th quarter. State Street Corp now owns 13,105,219 shares of the electronics maker's stock valued at $2,981,572,000 after acquiring an additional 76,292 shares during the period. Geode Capital Management LLC boosted its stake in TE Connectivity by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 6,284,933 shares of the electronics maker's stock worth $1,425,669,000 after acquiring an additional 161,967 shares during the last quarter. Bank of America Corp DE boosted its stake in TE Connectivity by 27.5% during the 2nd quarter. Bank of America Corp DE now owns 6,274,917 shares of the electronics maker's stock worth $1,058,390,000 after acquiring an additional 1,352,152 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in TE Connectivity by 3.4% during the fourth quarter. Bank of New York Mellon Corp now owns 4,403,794 shares of the electronics maker's stock valued at $1,001,907,000 after purchasing an additional 144,353 shares during the period. Institutional investors own 91.43% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. UBS Group reaffirmed a "buy" rating and issued a $241.00 target price on shares of TE Connectivity in a research note on Thursday, July 23rd. Wells Fargo & Company decreased their price target on shares of TE Connectivity from $230.00 to $209.00 and set an "equal weight" rating for the company in a report on Thursday, July 23rd. Robert W. Baird lowered their price objective on shares of TE Connectivity from $240.00 to $225.00 and set an "outperform" rating for the company in a research report on Thursday, July 23rd. Barclays raised their price objective on TE Connectivity from $297.00 to $300.00 and gave the stock an "overweight" rating in a research note on Monday, June 15th. Finally, Zacks Research lowered TE Connectivity from a "strong-buy" rating to a "hold" rating in a report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, TE Connectivity presently has an average rating of "Moderate Buy" and a consensus price target of $251.15.

Insider Buying and Selling

In related news, insider Shadrak W. Kroeger sold 9,400 shares of the business's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $215.00, for a total value of $2,021,000.00. Following the sale, the insider directly owned 25,976 shares of the company's stock, valued at approximately $5,584,840. The trade was a 26.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.60% of the company's stock.

TE Connectivity Price Performance

NYSE TEL opened at $214.27 on Wednesday. The business has a 50 day simple moving average of $205.86 and a 200 day simple moving average of $214.62. TE Connectivity Ltd. has a 52-week low of $190.27 and a 52-week high of $252.56. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.23 and a current ratio of 1.88. The stock has a market cap of $62.03 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 1.39 and a beta of 1.17.

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

TE Connectivity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, August 21st. TE Connectivity's dividend payout ratio (DPR) is presently 30.59%.

TE Connectivity Company 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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