Illinois Municipal Retirement Fund Purchases 12,894 Shares of TE Connectivity Ltd. $TEL

Key Points

• Illinois Municipal Retirement Fund increased its TE Connectivity position by 16.7% in the fourth quarter, buying 12,894 more shares and bringing its total holding to 90,092 shares valued at about $20.5 million.
• TE Connectivity reported strong quarterly results, with earnings of $2.73 per share and revenue of $4.74 billion, both slightly ahead of analyst expectations. Revenue rose 14.4% year over year.
• The company also announced a $3 billion share buyback and a quarterly dividend of $0.78 per share, equal to a 1.5% annualized yield. Meanwhile, analysts maintain a Moderate Buy rating with an average price target of $256.57.

Illinois Municipal Retirement Fund lifted its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 16.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 90,092 shares of the electronics maker's stock after acquiring an additional 12,894 shares during the quarter. Illinois Municipal Retirement Fund's holdings in TE Connectivity were worth $20,497,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TEL. Norges Bank purchased a new stake in TE Connectivity during the 4th quarter worth about $938,706,000. Arrowstreet Capital Limited Partnership lifted its holdings in TE Connectivity by 26,798.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,383,932 shares of the electronics maker's stock worth $303,815,000 after purchasing an additional 1,378,787 shares in the last quarter. Bank of America Corp DE lifted its holdings 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 purchasing an additional 1,352,152 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in TE Connectivity by 183.6% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,530,414 shares of the electronics maker's stock worth $348,184,000 after purchasing an additional 990,703 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its holdings in TE Connectivity by 243.2% during the 3rd quarter. Balyasny Asset Management L.P. now owns 1,359,191 shares of the electronics maker's stock worth $298,383,000 after purchasing an additional 963,123 shares in the last quarter. Institutional investors own 91.43% of the company's stock.

TE Connectivity Price Performance

Shares of TE Connectivity stock opened at $202.30 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.89 and a quick ratio of 1.20. The business's 50 day simple moving average is $214.55 and its two-hundred day simple moving average is $220.78. The stock has a market capitalization of $59.05 billion, a P/E ratio of 20.66, a price-to-earnings-growth ratio of 1.49 and a beta of 1.16. TE Connectivity Ltd. has a one year low of $162.17 and a one year high of $252.56.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $4.72 billion. TE Connectivity had a return on equity of 23.56% and a net margin of 15.54%.The business's quarterly revenue was up 14.4% on a year-over-year basis. During the same period in the previous year, the firm earned $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 11.28 EPS for the current year.

TE Connectivity declared that its board has initiated a stock buyback plan on Wednesday, March 11th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the electronics maker to repurchase up to 5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

TE Connectivity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders 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 dividend yield of 1.5%. TE Connectivity's payout ratio is 31.87%.

Insider Activity

In other news, insider Shadrak W. Kroeger sold 9,400 shares of the business'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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing 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 sold 28,200 shares of company stock worth $6,140,644 over the last 90 days. 0.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TEL has been the topic of a number of recent research reports. Zacks Research cut TE Connectivity from a "strong-buy" rating to a "hold" rating in a report on Monday. The Goldman Sachs Group set a $286.00 price objective on TE Connectivity in a report on Wednesday, April 22nd. Weiss Ratings raised TE Connectivity from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, April 29th. Jefferies Financial Group raised TE Connectivity from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 15th. Finally, Barclays dropped their price objective on TE Connectivity from $302.00 to $297.00 and set an "overweight" rating on the stock in a report on Thursday, April 23rd. One research 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. According to data from MarketBeat.com, TE Connectivity has an average rating of "Moderate Buy" and an average target price of $256.57.

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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