Horizon Investment Services LLC bought a new position in TE Connectivity Ltd. (NYSE:TEL - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 13,234 shares of the electronics maker's stock, valued at approximately $3,011,000.
Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in TE Connectivity by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 38,421,283 shares of the electronics maker's stock worth $8,741,226,000 after purchasing an additional 168,142 shares during the period. State Street Corp raised its holdings in TE Connectivity by 0.6% in the fourth quarter. State Street Corp now owns 13,105,219 shares of the electronics maker's stock worth $2,981,572,000 after purchasing an additional 76,292 shares during the period. Geode Capital Management LLC increased its position in shares of TE Connectivity by 2.6% during the fourth 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 in the last quarter. Bank of America Corp DE increased its position in shares of TE Connectivity by 27.5% during the second 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 in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of 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 worth $1,001,907,000 after acquiring an additional 144,353 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on TEL. Zacks Research downgraded shares of TE Connectivity from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 8th. HSBC downgraded shares of TE Connectivity from a "buy" rating to a "hold" rating and set a $234.00 price objective for the company. in a research report on Thursday, April 23rd. 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. Barclays lowered their price objective on shares of TE Connectivity from $302.00 to $297.00 and set an "overweight" rating for the company in a research report on Thursday, April 23rd. Finally, Weiss Ratings raised shares of TE Connectivity from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $256.57.
Get Our Latest Stock Analysis on TE Connectivity
TE Connectivity Stock Up 1.3%
TE Connectivity stock opened at $210.37 on Friday. The company has a market cap of $61.40 billion, a P/E ratio of 21.49, a price-to-earnings-growth ratio of 1.49 and a beta of 1.16. TE Connectivity Ltd. has a 1-year low of $162.17 and a 1-year high of $252.56. The company has a fifty day simple moving average of $214.51 and a 200 day simple moving average of $220.63. 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 (NYSE:TEL - Get Free Report) last released its earnings results on Wednesday, April 22nd. The electronics maker reported $2.73 earnings per share for the quarter, beating 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 net margin of 15.54% and a return on equity of 23.56%. The firm's revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.10 earnings per share. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. Research analysts anticipate that TE Connectivity Ltd. will post 11.28 earnings per share for the current fiscal year.
TE Connectivity Announces Dividend
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 given a $0.78 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $3.12 dividend on an annualized basis and a yield of 1.5%. TE Connectivity's dividend payout ratio (DPR) is 31.87%.
TE Connectivity announced that its Board of Directors has approved a share repurchase plan on Wednesday, March 11th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the electronics maker to buy up to 5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.
Insiders Place Their Bets
In related news, insider Shadrak W. Kroeger sold 9,400 shares of the firm'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 completion of the transaction, the insider owned 25,976 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 28,200 shares of company stock valued at $6,140,644 over the last ninety days. 0.60% of the stock is currently owned by company insiders.
TE Connectivity Company Profile
(
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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