Incline Global Management LLC Invests $13.19 Million in TE Connectivity Ltd. $TEL

Key Points

• Incline Global Management opened a new position in TE Connectivity, buying 57,993 shares valued at about $13.19 million. The stake represents 4.5% of the firm’s holdings and its 11th-largest position.
• Insider selling and institutional ownership remain notable: executive Shadrak W. Kroeger sold 9,400 shares in a Rule 10b5-1 transaction, while institutions and hedge funds hold about 91.43% of the stock.
• TE Connectivity’s latest quarter beat expectations, with EPS of $2.73 and revenue of $4.74 billion, and the company also authorized a $3 billion share buyback and announced a quarterly dividend of $0.78 per share.

Incline Global Management LLC acquired a new position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 57,993 shares of the electronics maker's stock, valued at approximately $13,194,000. TE Connectivity comprises 4.5% of Incline Global Management LLC's holdings, making the stock its 11th largest position.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC bought a new stake in shares of TE Connectivity in the 4th quarter valued at about $820,000. Sivia Capital Partners LLC raised its holdings in shares of TE Connectivity by 66.7% in the 2nd 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 period. Walleye Capital LLC raised its holdings in shares of TE Connectivity by 14.6% in the 2nd 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 period. Squarepoint Ops LLC raised its holdings in shares of TE Connectivity by 1,214.0% in the 2nd 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 period. Finally, Ieq Capital LLC raised its holdings in shares of TE Connectivity by 75.0% in the 2nd 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 period. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 9,400 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The shares were 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. This trade represents a 26.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 28,200 shares of company stock worth $6,140,644 over the last quarter. 0.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TEL. Wells Fargo & Company upped their target price on shares of TE Connectivity from $214.00 to $226.00 and gave the company an "equal weight" rating in a report on Thursday, April 23rd. Barclays upped their target price on shares of TE Connectivity from $297.00 to $300.00 and gave the company an "overweight" rating in a report on Monday. Wall Street Zen cut shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 2nd. HSBC cut shares of TE Connectivity from a "buy" rating to a "hold" rating and set a $234.00 target price on the stock. in a 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 report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, TE Connectivity presently has a consensus rating of "Moderate Buy" and an average price target of $256.79.

TE Connectivity Stock Down 2.4%

Shares of TEL opened at $211.73 on Thursday. TE Connectivity Ltd. has a 12 month low of $162.17 and a 12 month high of $252.56. The firm's 50 day moving average is $214.83 and its 200-day moving average is $220.44. The stock has a market capitalization of $61.80 billion, a PE ratio of 21.63, a P/E/G ratio of 1.54 and a beta of 1.16. 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 announced 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 net margin of 15.54% and a return on equity of 23.56%. The company had revenue of $4.74 billion for the quarter, compared to analysts' expectations of $4.72 billion. During the same period last year, the firm earned $2.10 earnings per share. The business'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 research analysts forecast that TE Connectivity Ltd. will post 11.28 EPS for the current year.

TE Connectivity declared that its Board of Directors has approved a stock buyback program on Wednesday, March 11th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the electronics maker to purchase up to 5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management 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 issued 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 dividend payout ratio (DPR) is currently 31.87%.

TE Connectivity 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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