iA Global Asset Management Inc. Takes Position in TE Connectivity Ltd. $TEL

Key Points

• iA Global Asset Management initiated a new position in TE Connectivity during the fourth quarter, buying 52,536 shares valued at about $11.95 million. The filing comes amid broad institutional ownership, with hedge funds and large investors holding more than 91% of the company.
• TE Connectivity posted better-than-expected quarterly results, earning $2.73 per share versus $2.70 expected and generating $4.74 billion in revenue, up 14.4% year over year. The company also reaffirmed strong profitability, with analysts expecting 11.28 EPS for the current fiscal year.
• The company raised its quarterly dividend to $0.78 per share from $0.71 and authorized a $3 billion share buyback plan. Analyst sentiment remains constructive overall, with a consensus rating of “Moderate Buy” and an average price target of $256.57.

iA Global Asset Management Inc. purchased a new stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 52,536 shares of the electronics maker's stock, valued at approximately $11,952,000.

A number of other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of TE Connectivity by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 38,421,283 shares of the electronics maker's stock valued at $8,741,226,000 after purchasing an additional 168,142 shares during the period. State Street Corp increased its position in shares of TE Connectivity by 0.8% in the 3rd quarter. State Street Corp now owns 13,028,927 shares of the electronics maker's stock valued at $2,860,244,000 after buying an additional 100,194 shares in the last quarter. Bank of America Corp DE increased its position in shares of TE Connectivity by 27.5% in the 2nd quarter. Bank of America Corp DE now owns 6,274,917 shares of the electronics maker's stock valued at $1,058,390,000 after buying an additional 1,352,152 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of TE Connectivity by 3.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,259,441 shares of the electronics maker's stock valued at $935,075,000 after buying an additional 122,994 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of TE Connectivity by 11.0% in the 3rd quarter. Invesco Ltd. now owns 2,954,244 shares of the electronics maker's stock valued at $648,545,000 after buying an additional 292,154 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company's stock.

Analyst Upgrades and Downgrades

TEL has been the subject of a number of recent analyst reports. Zacks Research upgraded shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 27th. 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. HSBC cut 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. Truist Financial lowered their price objective on shares of TE Connectivity from $244.00 to $240.00 and set a "hold" rating for the company in a research report on Thursday, April 23rd. Finally, Jefferies Financial Group upgraded shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 15th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $256.57.

TE Connectivity Stock Performance

TEL opened at $205.54 on Monday. The business's 50-day moving average price is $212.61 and its two-hundred day moving average price is $224.83. TE Connectivity Ltd. has a 1 year low of $155.37 and a 1 year high of $252.56. The company has a market capitalization of $60.00 billion, a price-to-earnings ratio of 20.99, a P/E/G ratio of 1.45 and a beta of 1.18. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.89 and a quick ratio of 1.20.

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

TE Connectivity Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders 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 annualized dividend and a dividend yield of 1.5%. This is a positive change from TE Connectivity's previous quarterly dividend of $0.71. TE Connectivity's dividend payout ratio (DPR) is 29.01%.

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

Insider Activity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 9,400 shares of TE Connectivity stock in a transaction on Wednesday, May 6th. 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 in the company, valued at approximately $5,584,840. The trade was a 26.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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. Company insiders own 0.60% of the company's stock.

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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