Pzena Investment Management LLC Sells 1,077,685 Shares of TE Connectivity Ltd. $TEL

Key Points

• Pzena Investment Management cut its TE Connectivity stake by 57% in the fourth quarter, selling 1,077,685 shares and ending with 811,891 shares valued at about $184.7 million.
• TE Connectivity recently posted better-than-expected quarterly results, with EPS of $2.73 topping estimates and revenue rising 14.4% year over year to $4.74 billion.
• The company also boosted its quarterly dividend to $0.78 per share and authorized a $3 billion stock repurchase plan, while analysts currently rate the stock a consensus Moderate Buy.

Pzena Investment Management LLC lowered its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 57.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 811,891 shares of the electronics maker's stock after selling 1,077,685 shares during the period. Pzena Investment Management LLC owned 0.28% of TE Connectivity worth $184,713,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of TE Connectivity in the fourth quarter valued at approximately $25,000. Caitlin John LLC acquired a new stake in shares of TE Connectivity in the third quarter valued at approximately $28,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of TE Connectivity in the third quarter valued at approximately $29,000. Geneos Wealth Management Inc. increased its holdings in shares of TE Connectivity by 189.6% in the second quarter. Geneos Wealth Management Inc. now owns 194 shares of the electronics maker's stock valued at $33,000 after purchasing an additional 127 shares in the last quarter. Finally, JFS Wealth Advisors LLC increased its holdings in shares of TE Connectivity by 54.6% in the fourth quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker's stock valued at $42,000 after purchasing an additional 65 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TEL shares. Jefferies Financial Group raised shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 15th. HSBC lowered shares of TE Connectivity from a "buy" rating to a "hold" rating and set a $234.00 price target for the company. in a report on Thursday, April 23rd. Wells Fargo & Company raised their price target on shares of TE Connectivity from $214.00 to $226.00 and gave the company an "equal weight" rating in a report on Thursday, April 23rd. UBS Group lowered 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. Finally, The Goldman Sachs Group set a $286.00 target price on shares of TE Connectivity in a report on Wednesday, April 22nd. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, TE Connectivity presently has a consensus rating of "Moderate Buy" and a consensus target price of $256.57.

Insider Activity

In other news, insider Shadrak W. Kroeger sold 9,400 shares of the business's stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $215.00, for a total value of $2,021,000.00. Following the completion of the transaction, the insider owned 25,976 shares of the company's stock, valued at $5,584,840. The trade was a 26.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 28,200 shares of company stock valued at $6,211,332. 0.60% of the stock is owned by insiders.

TE Connectivity Price Performance

Shares of TEL stock opened at $202.47 on Friday. TE Connectivity Ltd. has a 12-month low of $155.37 and a 12-month high of $252.56. The firm has a market capitalization of $59.10 billion, a price-to-earnings ratio of 20.68, a price-to-earnings-growth ratio of 1.43 and a beta of 1.18. The company has a quick ratio of 1.20, a current ratio of 1.89 and a debt-to-equity ratio of 0.42. The firm has a fifty day moving average of $212.09 and a 200-day moving average of $223.65.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The electronics maker reported $2.73 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.72 billion. During the same quarter in the previous year, the business earned $2.10 EPS. The firm's revenue was up 14.4% on a year-over-year basis. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. On average, equities research analysts forecast that TE Connectivity Ltd. will post 11.28 earnings per share for the current year.

TE Connectivity Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 22nd will be issued a $0.78 dividend. This is a positive change from TE Connectivity's previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $3.12 annualized dividend and a dividend yield of 1.5%. TE Connectivity's dividend payout ratio (DPR) is presently 29.01%.

TE Connectivity declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 11th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the electronics maker to buy up to 5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its shares are undervalued.

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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