Heartland Advisors Inc. cut its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 22.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,290 shares of the electronics maker's stock after selling 14,160 shares during the quarter. Heartland Advisors Inc.'s holdings in TE Connectivity were worth $10,986,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of TEL. Brighton Jones LLC bought a new position in TE Connectivity in the fourth quarter valued at about $820,000. Sivia Capital Partners LLC raised its position in TE Connectivity by 66.7% in the second quarter. Sivia Capital Partners LLC now owns 2,517 shares of the electronics maker's stock valued at $425,000 after purchasing an additional 1,007 shares during the last quarter. Walleye Capital LLC raised its position in TE Connectivity by 14.6% in the second quarter. Walleye Capital LLC now owns 2,688 shares of the electronics maker's stock valued at $453,000 after purchasing an additional 343 shares during the last quarter. Squarepoint Ops LLC raised its position in TE Connectivity by 1,214.0% in the second quarter. Squarepoint Ops LLC now owns 105,267 shares of the electronics maker's stock valued at $17,755,000 after purchasing an additional 97,256 shares during the last quarter. Finally, Ieq Capital LLC raised its position in TE Connectivity by 75.0% in the second quarter. Ieq Capital LLC now owns 23,284 shares of the electronics maker's stock valued at $3,927,000 after purchasing an additional 9,980 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, insider Shadrak W. Kroeger sold 9,400 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $215.00, for a total transaction of $2,021,000.00. Following the completion of the sale, the insider 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 28,200 shares of company stock worth $6,140,644 over the last ninety days. Company insiders own 0.60% of the company's stock.
Analyst Ratings Changes
Several research firms have commented on TEL. Oppenheimer increased their target price on TE Connectivity from $270.00 to $285.00 and gave the company an "outperform" rating in a research report on Friday, February 13th. Weiss Ratings raised TE Connectivity from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, April 29th. Wall Street Zen cut TE Connectivity from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 2nd. Zacks Research cut TE Connectivity from a "strong-buy" rating to a "hold" rating in a research note on Monday. Finally, Barclays decreased their price target on TE Connectivity from $302.00 to $297.00 and set an "overweight" rating for the company in a research note on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $256.57.
View Our Latest Report on TEL
TE Connectivity Trading Down 4.1%
Shares of TEL stock opened at $202.30 on Thursday. The stock has a market cap of $59.05 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 1.49 and a beta of 1.16. The stock has a 50-day moving average of $214.55 and a 200-day moving average of $220.78. The company has a current ratio of 1.89, a quick ratio of 1.20 and a debt-to-equity ratio of 0.42. TE Connectivity Ltd. has a 1-year low of $162.17 and a 1-year high of $252.56.
TE Connectivity (NYSE:TEL - Get Free Report) last released its earnings results on Wednesday, April 22nd. The electronics maker reported $2.73 EPS for the quarter, topping the consensus estimate of $2.70 by $0.03. TE Connectivity had a return on equity of 23.56% and a net margin of 15.54%.The business had revenue of $4.74 billion during the quarter, compared to analysts' expectations of $4.72 billion. During the same quarter last year, the firm posted $2.10 earnings per share. The firm's revenue was up 14.4% on a year-over-year basis. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. On average, equities research analysts forecast that TE Connectivity Ltd. will post 11.28 earnings per share for the current year.
TE Connectivity announced that its board has approved a stock repurchase program on Wednesday, March 11th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the electronics maker to reacquire up to 5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.
TE Connectivity Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $3.12 annualized dividend and a yield of 1.5%. TE Connectivity's dividend payout ratio (DPR) is currently 31.87%.
About TE Connectivity
(
Free Report)
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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