Massachusetts Financial Services Co. MA trimmed its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 31.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,037,438 shares of the electronics maker's stock after selling 944,430 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.69% of TE Connectivity worth $463,538,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bartlett & CO. Wealth Management LLC lifted its stake in shares of TE Connectivity by 10.1% in the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 1,307 shares of the electronics maker's stock worth $297,000 after acquiring an additional 120 shares during the period. Premier Path Wealth Partners LLC lifted its stake in shares of TE Connectivity by 7.3% in the fourth quarter. Premier Path Wealth Partners LLC now owns 2,241 shares of the electronics maker's stock worth $510,000 after acquiring an additional 153 shares during the period. Apollon Wealth Management LLC lifted its stake in shares of TE Connectivity by 4.2% in the fourth quarter. Apollon Wealth Management LLC now owns 8,482 shares of the electronics maker's stock worth $1,930,000 after acquiring an additional 344 shares during the period. Spirepoint Private Client LLC lifted its stake in shares of TE Connectivity by 14.5% in the fourth quarter. Spirepoint Private Client LLC now owns 1,059 shares of the electronics maker's stock worth $241,000 after acquiring an additional 134 shares during the period. Finally, Personal CFO Solutions LLC lifted its stake in shares of TE Connectivity by 4.6% in the fourth quarter. Personal CFO Solutions LLC now owns 1,831 shares of the electronics maker's stock worth $417,000 after acquiring an additional 81 shares during the period. 91.43% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
TEL has been the topic of a number of recent analyst reports. Oppenheimer lifted their price objective on TE Connectivity from $270.00 to $285.00 and gave the stock an "outperform" rating in a research note on Friday, February 13th. Barclays lifted their price objective on TE Connectivity from $297.00 to $302.00 and gave the stock an "overweight" rating in a research note on Friday, January 23rd. Jefferies Financial Group reaffirmed a "buy" rating and issued a $250.00 price objective (down from $280.00) on shares of TE Connectivity in a research note on Tuesday, March 31st. Weiss Ratings raised TE Connectivity from a "hold (c+)" rating to a "buy (b)" rating in a research note on Friday, February 6th. Finally, Truist Financial boosted their price target on TE Connectivity from $240.00 to $244.00 and gave the company a "hold" rating in a research note on Thursday, January 22nd. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $249.47.
Check Out Our Latest Stock Report on TE Connectivity
Insider Buying and Selling at TE Connectivity
In other news, EVP John S. Jenkins sold 6,155 shares of the business's stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $222.81, for a total transaction of $1,371,395.55. Following the completion of the sale, the executive vice president owned 21,810 shares in the company, valued at $4,859,486.10. The trade was a 22.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Shadrak W. Kroeger sold 9,400 shares of the business's stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $233.82, for a total value of $2,197,908.00. Following the sale, the insider owned 32,541 shares of the company's stock, valued at approximately $7,608,736.62. This represents a 22.41% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 42,345 shares of company stock valued at $9,627,260. 0.60% of the stock is currently owned by company insiders.
TE Connectivity Price Performance
Shares of TEL opened at $229.59 on Friday. TE Connectivity Ltd. has a 52-week low of $124.25 and a 52-week high of $250.67. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.07 and a current ratio of 1.65. The business's 50 day moving average price is $216.11 and its two-hundred day moving average price is $225.44. The firm has a market cap of $67.37 billion, a PE ratio of 33.13, a price-to-earnings-growth ratio of 1.73 and a beta of 1.26.
TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings results on Wednesday, January 21st. The electronics maker reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.17. TE Connectivity had a return on equity of 22.72% and a net margin of 11.41%.The firm had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.52 billion. During the same period in the previous year, the firm earned $1.95 earnings per share. The company's revenue was up 21.7% compared to the same quarter last year. TE Connectivity has set its Q2 2026 guidance at 2.650-2.650 EPS. On average, equities analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current year.
TE Connectivity Increases Dividend
The firm 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. This represents a $3.12 annualized dividend and a yield of 1.4%. This is a boost from TE Connectivity's previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Friday, May 22nd. TE Connectivity's payout ratio is presently 40.98%.
TE Connectivity announced that its board has approved a stock buyback plan on Wednesday, March 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the electronics maker to buy up to 5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.
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.
Further Reading
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