Northern Trust Corp Trims Stake in TE Connectivity Ltd. $TEL

Key Points

• Northern Trust Corp reduced its holdings in TE Connectivity by 3.8%, selling 102,856 shares, and now owns about 0.87% of the company, valued at approximately $365.8 million.
• TE Connectivity reported earnings of $2.27 per share for the last quarter, surpassing estimates by $0.19, alongside a revenue increase of 13.9% year-over-year to $4.53 billion.
• The company declared a quarterly dividend of $0.71 per share, which corresponds to an annualized yield of 1.4%, to be paid on September 12th to investors of record as of August 22nd.

Northern Trust Corp cut its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 3.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,588,194 shares of the electronics maker's stock after selling 102,856 shares during the period. Northern Trust Corp owned about 0.87% of TE Connectivity worth $365,764,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in TE Connectivity by 17.0% during the 1st quarter. Vanguard Group Inc. now owns 37,881,410 shares of the electronics maker's stock valued at $5,353,401,000 after buying an additional 5,502,415 shares during the last quarter. Ameriprise Financial Inc. raised its stake in TE Connectivity by 11.8% during the 4th quarter. Ameriprise Financial Inc. now owns 5,603,251 shares of the electronics maker's stock valued at $801,101,000 after buying an additional 592,072 shares during the last quarter. EdgePoint Investment Group Inc. raised its stake in TE Connectivity by 15.3% during the 4th quarter. EdgePoint Investment Group Inc. now owns 3,884,050 shares of the electronics maker's stock valued at $555,303,000 after buying an additional 516,400 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in TE Connectivity by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,273,022 shares of the electronics maker's stock valued at $462,564,000 after buying an additional 48,458 shares during the last quarter. Finally, First Pacific Advisors LP raised its stake in TE Connectivity by 0.8% during the 1st quarter. First Pacific Advisors LP now owns 2,683,212 shares of the electronics maker's stock valued at $379,192,000 after buying an additional 20,773 shares during the last quarter. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

TE Connectivity Price Performance

TE Connectivity stock traded up $4.5070 during mid-day trading on Friday, hitting $204.8070. The stock had a trading volume of 1,818,901 shares, compared to its average volume of 1,781,943. The firm has a market capitalization of $60.52 billion, a P/E ratio of 42.40, a P/E/G ratio of 2.44 and a beta of 1.23. The company has a current ratio of 1.52, a quick ratio of 0.96 and a debt-to-equity ratio of 0.39. The firm's 50 day moving average is $186.36 and its 200 day moving average is $161.68. TE Connectivity Ltd. has a one year low of $116.30 and a one year high of $212.76.

TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The electronics maker reported $2.27 EPS for the quarter, beating the consensus estimate of $2.08 by $0.19. TE Connectivity had a net margin of 8.78% and a return on equity of 20.22%. The business had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the prior year, the firm earned $1.91 EPS. The business's revenue was up 13.9% on a year-over-year basis. TE Connectivity has set its Q4 2025 guidance at 2.270-2.270 EPS. On average, sell-side analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity's dividend payout ratio is 58.80%.

Analyst Upgrades and Downgrades

TEL has been the subject of a number of research reports. Robert W. Baird boosted their target price on shares of TE Connectivity from $185.00 to $210.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. UBS Group upped their price objective on TE Connectivity from $185.00 to $201.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Wall Street Zen upgraded TE Connectivity from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Evercore ISI upped their price objective on TE Connectivity from $200.00 to $225.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 12th. Finally, JPMorgan Chase & Co. upped their price objective on TE Connectivity from $186.00 to $204.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $197.55.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $159.03, for a total transaction of $3,975,750.00. Following the completion of the transaction, the insider owned 25,976 shares of the company's stock, valued at $4,130,963.28. This represents a 49.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Aaron Kyle Stucki sold 52,900 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $192.78, for a total transaction of $10,198,062.00. Following the transaction, the insider directly owned 23,667 shares of the company's stock, valued at $4,562,524.26. This trade represents a 69.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 138,795 shares of company stock worth $26,401,597 over the last 90 days. Company insiders own 0.90% of the company's stock.

TE Connectivity Company Profile

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.