Matrix Asset Advisors Inc. NY Cuts Stock Holdings in TE Connectivity Ltd. $TEL

Key Points

• Matrix Asset Advisors Inc. NY cut its TE Connectivity stake by 29.8% in the first quarter, selling 13,894 shares and leaving it with 32,664 shares worth about $6.83 million.
• TE Connectivity’s latest results beat expectations, with quarterly EPS of $2.73 versus the $2.70 consensus and revenue of $4.74 billion, up 14.4% year over year.
• The company continues to return capital to shareholders through a $0.78 quarterly dividend and a new $3 billion share repurchase authorization, while analysts maintain a Moderate Buy consensus rating and $254.93 average price target.

Matrix Asset Advisors Inc. NY lessened its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 29.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,664 shares of the electronics maker's stock after selling 13,894 shares during the quarter. Matrix Asset Advisors Inc. NY's holdings in TE Connectivity were worth $6,827,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Gulf International Bank UK Ltd lifted its holdings in shares of TE Connectivity by 0.3% in the 4th quarter. Gulf International Bank UK Ltd now owns 14,999 shares of the electronics maker's stock valued at $3,412,000 after buying an additional 44 shares during the period. MCF Advisors LLC grew its holdings in TE Connectivity by 14.1% during the fourth quarter. MCF Advisors LLC now owns 364 shares of the electronics maker's stock worth $83,000 after acquiring an additional 45 shares during the period. Webster Bank N. A. raised its position in TE Connectivity by 19.1% in the fourth quarter. Webster Bank N. A. now owns 287 shares of the electronics maker's stock worth $65,000 after acquiring an additional 46 shares in the last quarter. CYBER HORNET ETFs LLC raised its position in TE Connectivity by 5.6% in the fourth quarter. CYBER HORNET ETFs LLC now owns 887 shares of the electronics maker's stock worth $202,000 after acquiring an additional 47 shares in the last quarter. Finally, Harbour Investments Inc. lifted its holdings in TE Connectivity by 4.2% in the fourth quarter. Harbour Investments Inc. now owns 1,193 shares of the electronics maker's stock valued at $271,000 after acquiring an additional 48 shares during the period. Institutional investors and hedge funds own 91.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on TEL shares. UBS Group lowered their price target on shares of TE Connectivity from $272.00 to $261.00 and set a "buy" rating on the stock in a research note on Thursday, April 23rd. Evercore reiterated an "in-line" rating and issued a $230.00 price objective on shares of TE Connectivity in a research note on Monday, June 22nd. Barclays boosted their price objective on shares of TE Connectivity from $297.00 to $300.00 and gave the stock an "overweight" rating in a report on Monday, June 15th. Wells Fargo & Company increased their target price on shares of TE Connectivity from $226.00 to $230.00 and gave the company an "equal weight" rating in a report on Thursday. Finally, Wall Street Zen downgraded shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $254.93.

TE Connectivity Trading Up 0.2%

Shares of TEL stock opened at $198.14 on Monday. The stock has a market cap of $57.84 billion, a P/E ratio of 20.24, a P/E/G ratio of 1.40 and a beta of 1.16. The company has a quick ratio of 1.20, a current ratio of 1.89 and a debt-to-equity ratio of 0.42. TE Connectivity Ltd. has a fifty-two week low of $166.58 and a fifty-two week high of $252.56. The business has a fifty day simple moving average of $211.87 and a 200-day simple moving average of $219.28.

TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings data 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 business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.72 billion. During the same period in the previous year, the firm earned $2.10 EPS. The business'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. On average, analysts forecast that TE Connectivity Ltd. will post 11.31 earnings per share for the current fiscal year.

TE Connectivity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, August 21st. TE Connectivity's dividend payout ratio is 31.87%.

TE Connectivity announced that its Board of Directors has approved a share repurchase plan on Wednesday, March 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the electronics maker to reacquire up to 5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its shares are undervalued.

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 completion of the transaction, the insider directly owned 25,976 shares of the company's stock, valued at $5,584,840. This trade represents a 26.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 28,200 shares of company stock valued at $6,140,644 in the last quarter. 0.60% of the stock is owned by corporate insiders.

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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