Heartland Advisors Inc. Trims Stake in TE Connectivity Ltd. $TEL

Key Points

• Heartland Advisors sharply reduced its TE Connectivity position, cutting its stake by 62% in the first quarter and ending with 18,330 shares worth about $3.83 million.
• TE Connectivity saw mixed but generally positive analyst sentiment, with multiple firms maintaining or raising bullish ratings, and the stock carrying a consensus Moderate Buy rating and average target price of $255.31.
• The company reported strong quarterly results, beating EPS and revenue expectations, and it also announced a quarterly dividend of $0.78 per share payable on September 11.

Heartland Advisors Inc. decreased its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 62.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,330 shares of the electronics maker's stock after selling 29,960 shares during the period. Heartland Advisors Inc.'s holdings in TE Connectivity were worth $3,831,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of TE Connectivity during the fourth quarter valued at $25,000. Geneos Wealth Management Inc. raised its stake in 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 purchasing an additional 127 shares during the last quarter. Commonwealth Retirement Investments LLC purchased a new position in TE Connectivity in the 4th quarter valued at about $40,000. MV Capital Management Inc. acquired a new stake in shares of TE Connectivity during the 4th quarter worth about $41,000. Finally, JFS Wealth Advisors LLC boosted its stake in shares of TE Connectivity by 54.6% during the 4th quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker's stock worth $42,000 after purchasing an additional 65 shares during the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TEL has been the subject of a number of analyst reports. Jefferies Financial Group raised shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 15th. UBS Group decreased their target price on shares of TE Connectivity from $272.00 to $261.00 and set a "buy" rating on the stock in a research report on Thursday, April 23rd. Barclays lifted their target price on shares of TE Connectivity from $297.00 to $300.00 and gave the stock an "overweight" rating in a research note on Monday, June 15th. The Goldman Sachs Group set a $286.00 price target on TE Connectivity in a report on Wednesday, April 22nd. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, TE Connectivity currently has an average rating of "Moderate Buy" and a consensus target price of $255.31.

Insider Activity at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 9,400 shares of TE Connectivity stock in a transaction dated Monday, June 1st. 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 transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by company insiders.

TE Connectivity Stock Down 0.0%

Shares of TEL opened at $203.22 on Monday. TE Connectivity Ltd. has a fifty-two week low of $177.21 and a fifty-two week high of $252.56. The company's fifty day moving average is $205.86 and its two-hundred day moving average is $215.85. The firm has a market cap of $59.32 billion, a PE ratio of 20.76, a price-to-earnings-growth ratio of 1.43 and a beta of 1.17. 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 (NYSE:TEL - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The electronics maker reported $2.73 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 23.56% and a net margin of 15.54%.The business's revenue for the quarter was up 14.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.10 EPS. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. Analysts forecast that TE Connectivity Ltd. will post 11.31 earnings per share for the current year.

TE Connectivity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be paid a dividend of $0.78 per share. The ex-dividend date is Friday, August 21st. This represents a $3.12 annualized dividend and a yield of 1.5%. TE Connectivity's dividend payout ratio is currently 31.87%.

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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