Savant Capital LLC Sells 29,746 Shares of TE Connectivity Ltd. $TEL

Key Points

• Savant Capital LLC sharply reduced its TE Connectivity stake by 79.5% in the fourth quarter, selling 29,746 shares and leaving it with 7,690 shares valued at about $1.75 million.
• TE Connectivity reported better-than-expected quarterly results, with EPS of $2.73 versus $2.70 estimated and revenue of $4.74 billion, up 14.4% year over year.
• The company also boosted its quarterly dividend to $0.78 per share and has a $3 billion share buyback authorization in place, while analysts maintain a consensus rating of Moderate Buy with a price target of $256.57.

Savant Capital LLC cut its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 79.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,690 shares of the electronics maker's stock after selling 29,746 shares during the period. Savant Capital LLC's holdings in TE Connectivity were worth $1,750,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Intech Investment Management LLC increased its position in shares of TE Connectivity by 2.9% during the fourth quarter. Intech Investment Management LLC now owns 12,800 shares of the electronics maker's stock valued at $2,912,000 after buying an additional 364 shares during the period. Baker Avenue Asset Management LP increased its position in shares of TE Connectivity by 4.1% during the fourth quarter. Baker Avenue Asset Management LP now owns 2,317 shares of the electronics maker's stock valued at $527,000 after buying an additional 92 shares during the period. IFG Advisory LLC increased its position in shares of TE Connectivity by 2.8% during the fourth quarter. IFG Advisory LLC now owns 5,081 shares of the electronics maker's stock valued at $1,156,000 after buying an additional 137 shares during the period. Huntington National Bank raised its stake in TE Connectivity by 8.5% in the fourth quarter. Huntington National Bank now owns 3,765 shares of the electronics maker's stock valued at $857,000 after purchasing an additional 295 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in TE Connectivity by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 6,284,933 shares of the electronics maker's stock valued at $1,425,669,000 after purchasing an additional 161,967 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors.

Insider Activity at TE Connectivity

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 transaction of $2,021,000.00. Following the sale, the insider owned 25,976 shares in the company, valued at approximately $5,584,840. The trade was a 26.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TEL shares. Wells Fargo & Company raised their target price on shares of TE Connectivity from $214.00 to $226.00 and gave the company an "equal weight" rating in a research note on Thursday, April 23rd. HSBC cut shares of TE Connectivity from a "buy" rating to a "hold" rating and set a $234.00 target price on the stock. in a report on Thursday, April 23rd. Zacks Research upgraded shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a report on Monday, April 27th. Truist Financial cut their target price on shares of TE Connectivity from $244.00 to $240.00 and set a "hold" rating on the stock in a report on Thursday, April 23rd. Finally, UBS Group cut their target price on shares of TE Connectivity from $272.00 to $261.00 and set a "buy" rating on the stock in a report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $256.57.

TE Connectivity Price Performance

TEL stock opened at $213.24 on Monday. TE Connectivity Ltd. has a 1 year low of $158.09 and a 1 year high of $252.56. The company has a market cap of $62.24 billion, a P/E ratio of 21.78, a PEG ratio of 1.51 and a beta of 1.16. The firm has a 50-day moving average of $212.91 and a 200 day moving average of $222.07. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.89 and a quick ratio of 1.20.

TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The electronics maker reported $2.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $4.72 billion. During the same period in the prior year, the firm earned $2.10 earnings per share. TE Connectivity'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, sell-side analysts forecast that TE Connectivity Ltd. will post 11.28 EPS for the current year.

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

TE Connectivity Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 22nd will be issued a dividend of $0.78 per share. This is a boost from TE Connectivity's previous quarterly dividend of $0.71. The ex-dividend date is Friday, May 22nd. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.5%. TE Connectivity's dividend payout ratio (DPR) is presently 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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