TE Connectivity Ltd. $TEL Shares Sold by Sciencast Management LP

Key Points

• Sciencast Management LP reduced its stake in TE Connectivity Ltd. by 16.2% in the 1st quarter, leaving it with a value of approximately $2.24 million from 15,868 shares.
• TE Connectivity reported a quarterly revenue of $4.53 billion, which exceeded consensus estimates, alongside an EPS of $2.27, outperforming expectations by $0.19.
• The company will distribute a quarterly dividend of $0.71 on September 12th, representing an annualized yield of 1.4% and a dividend payout ratio of 58.80%.

Sciencast Management LP lowered its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 16.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,868 shares of the electronics maker's stock after selling 3,062 shares during the quarter. Sciencast Management LP's holdings in TE Connectivity were worth $2,242,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Costello Asset Management INC acquired a new position in shares of TE Connectivity during the first quarter worth about $28,000. Millstone Evans Group LLC acquired a new position in shares of TE Connectivity during the first quarter worth about $32,000. Kelly Lawrence W & Associates Inc. CA acquired a new position in shares of TE Connectivity during the first quarter worth about $34,000. Dagco Inc. acquired a new position in shares of TE Connectivity during the first quarter worth about $35,000. Finally, North Capital Inc. acquired a new position in shares of TE Connectivity during the first quarter worth about $46,000. Institutional investors and hedge funds own 91.43% of the company's stock.

Insider Buying and Selling

In related news, insider Shadrak W. Kroeger sold 23,850 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $202.99, for a total transaction of $4,841,311.50. Following the completion of the transaction, the insider directly owned 25,976 shares in the company, valued at $5,272,868.24. This represents a 47.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John S. Jenkins sold 45,850 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $209.33, for a total value of $9,597,780.50. Following the completion of the transaction, the executive vice president directly owned 24,625 shares of the company's stock, valued at $5,154,751.25. This trade represents a 65.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,645 shares of company stock valued at $27,267,158 in the last 90 days. Corporate insiders own 0.90% of the company's stock.

Analyst Upgrades and Downgrades

TEL has been the topic of a number of recent research reports. Wells Fargo & Company boosted their price objective on TE Connectivity from $170.00 to $198.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 24th. The Goldman Sachs Group reiterated a "buy" rating on shares of TE Connectivity in a research note on Friday, July 11th. Citigroup boosted their price target on TE Connectivity from $200.00 to $230.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Robert W. Baird set a $232.00 price target on TE Connectivity in a research note on Wednesday, September 3rd. Finally, JPMorgan Chase & Co. boosted their price target 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 research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $199.55.

TE Connectivity Stock Performance

Shares of NYSE:TEL traded up $1.84 during trading on Wednesday, hitting $210.49. 1,359,271 shares of the company traded hands, compared to its average volume of 1,470,450. The stock has a market capitalization of $62.20 billion, a price-to-earnings ratio of 43.58, a PEG ratio of 2.48 and a beta of 1.23. TE Connectivity Ltd. has a one year low of $116.30 and a one year high of $212.76. The company has a quick ratio of 0.96, a current ratio of 1.52 and a debt-to-equity ratio of 0.39. The business's fifty day moving average is $196.87 and its 200-day moving average is $166.60.

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

TE Connectivity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 21st will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 1.3%. TE Connectivity's payout ratio is currently 58.80%.

TE Connectivity 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.