London Co. of Virginia Sells 48,012 Shares of TE Connectivity Ltd. $TEL

Key Points

• London Co. of Virginia trimmed its TE Connectivity stake by 2.9% in the fourth quarter, selling 48,012 shares and leaving it with 1,597,254 shares valued at about $363.4 million.
• TE Connectivity reported strong quarterly results, with EPS of $2.73 topping estimates and revenue of $4.74 billion, up 14.4% year over year.
• The company also announced a $3 billion share repurchase program and a quarterly dividend of $0.78 per share, while analysts currently rate the stock a consensus “Moderate Buy.”

London Co. of Virginia reduced its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,597,254 shares of the electronics maker's stock after selling 48,012 shares during the period. TE Connectivity comprises 2.1% of London Co. of Virginia's portfolio, making the stock its 9th largest position. London Co. of Virginia owned 0.54% of TE Connectivity worth $363,398,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC bought a new stake in TE Connectivity during the fourth quarter valued at $25,000. Caitlin John LLC acquired a new stake in TE Connectivity in the 3rd quarter valued at about $28,000. Aster Capital Management DIFC Ltd acquired a new stake in TE Connectivity in the 3rd quarter valued at about $29,000. Geneos Wealth Management Inc. lifted its holdings in TE Connectivity by 189.6% in the 2nd quarter. Geneos Wealth Management Inc. now owns 194 shares of the electronics maker's stock valued at $33,000 after acquiring an additional 127 shares during the last quarter. Finally, Commonwealth Retirement Investments LLC acquired a new stake in TE Connectivity in the 4th quarter valued at about $40,000. 91.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 9,400 shares of the company's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $215.00, for a total value of $2,021,000.00. Following the transaction, the insider owned 25,976 shares in the company, valued at $5,584,840. This represents a 26.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 28,200 shares of company stock valued at $6,140,644. 0.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. UBS Group cut their price target on shares of TE Connectivity from $272.00 to $261.00 and set a "buy" rating for the company in a report on Thursday, April 23rd. Barclays upped their price target on shares of TE Connectivity from $297.00 to $300.00 and gave the company an "overweight" rating in a report on Monday. Truist Financial cut their price target on shares of TE Connectivity from $244.00 to $240.00 and set a "hold" rating for the company in a report on Thursday, April 23rd. The Goldman Sachs Group set a $286.00 price objective on shares of TE Connectivity in a research note on Wednesday, April 22nd. Finally, Wall Street Zen lowered shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 2nd. 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $256.79.

TE Connectivity Price Performance

TEL stock opened at $217.19 on Wednesday. The firm has a market capitalization of $63.40 billion, a PE ratio of 22.18, a P/E/G ratio of 1.53 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. The company has a current ratio of 1.89, a quick ratio of 1.20 and a debt-to-equity ratio of 0.42. The firm has a 50-day moving average of $214.80 and a two-hundred day moving average of $220.53.

TE Connectivity (NYSE:TEL - Get Free Report) last issued 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 company had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.72 billion. TE Connectivity had a return on equity of 23.56% and a net margin of 15.54%.The firm's quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.10 EPS. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. On average, analysts forecast that TE Connectivity Ltd. will post 11.28 earnings per share for the current year.

TE Connectivity declared that its board has approved a share repurchase program on Wednesday, March 11th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the electronics maker to buy up to 5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

TE Connectivity Dividend Announcement

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 $0.78 dividend. The ex-dividend date is Friday, August 21st. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.4%. TE Connectivity's dividend payout ratio 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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