Kovitz Investment Group Partners LLC lessened its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 24.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,471 shares of the electronics maker's stock after selling 28,904 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in TE Connectivity were worth $20,355,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the business. Darwin Wealth Management LLC acquired a new position in shares of TE Connectivity in the fourth quarter worth approximately $1,983,000. Northwestern Mutual Wealth Management Co. increased its position in TE Connectivity by 2,766.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 277,270 shares of the electronics maker's stock valued at $63,082,000 after purchasing an additional 267,598 shares during the period. Power Wealth Management LLC raised its holdings in TE Connectivity by 226.5% during the 3rd quarter. Power Wealth Management LLC now owns 8,979 shares of the electronics maker's stock worth $1,971,000 after purchasing an additional 6,229 shares during the last quarter. NewEdge Wealth LLC lifted its position in shares of TE Connectivity by 20.4% in the 4th quarter. NewEdge Wealth LLC now owns 41,715 shares of the electronics maker's stock worth $9,491,000 after purchasing an additional 7,057 shares during the period. Finally, Bowen Hanes & Co. Inc. acquired a new position in shares of TE Connectivity in the 3rd quarter worth approximately $42,808,000. 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 company'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 $5,584,840. This 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 is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 28,200 shares of company stock worth $6,140,644 in the last ninety days. Insiders own 0.60% of the company's stock.
Analyst Ratings Changes
A number of brokerages recently weighed in on TEL. Wells Fargo & Company lifted their target price on shares of TE Connectivity from $214.00 to $226.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 23rd. Wall Street Zen downgraded TE Connectivity from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 2nd. Zacks Research lowered TE Connectivity from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 8th. Jefferies Financial Group raised TE Connectivity from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 15th. Finally, UBS Group lowered their target price on TE Connectivity from $272.00 to $261.00 and set a "buy" rating for the company 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 assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $256.79.
Check Out Our Latest Stock Report on TEL
TE Connectivity Price Performance
Shares of NYSE TEL opened at $218.03 on Friday. The firm has a market capitalization of $63.64 billion, a P/E ratio of 22.27, a P/E/G ratio of 1.50 and a beta of 1.16. The firm's 50-day moving average price is $214.98 and its 200-day moving average price is $220.38. 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 Ltd. has a 1-year low of $162.17 and a 1-year high of $252.56.
TE Connectivity (NYSE:TEL - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The electronics maker reported $2.73 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 company had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.72 billion. During the same period last year, the business posted $2.10 EPS. The firm's revenue for the quarter was up 14.4% compared to the same quarter last year. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. Equities research analysts anticipate that TE Connectivity Ltd. will post 11.28 earnings per share for the current fiscal year.
TE Connectivity declared that its board has authorized 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 reacquire up to 5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.
TE Connectivity Announces Dividend
The company also recently disclosed 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 is Friday, August 21st. This represents a $3.12 annualized dividend and a dividend yield of 1.4%. TE Connectivity's payout ratio is currently 31.87%.
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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