S&CO Inc. Purchases New Holdings in TE Connectivity Ltd. $TEL

Key Points

• S&CO Inc. acquired 22,398 shares of TE Connectivity in the second quarter, valued at approximately $4.5 million. Institutional investors and hedge funds collectively own 91.43% of the company.
• TE Connectivity reported quarterly earnings of $2.94 per share, exceeding estimates of $2.85, while revenue rose 13.8% year over year to $5.16 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $251.15.
• The company declared a quarterly dividend of $0.78 per share, equivalent to $3.12 annually and a 1.4% yield. An insider separately sold 9,400 shares for about $2.02 million under a pre-arranged trading plan.

S&CO Inc. acquired a new position in TE Connectivity Ltd. (NYSE:TEL - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 22,398 shares of the electronics maker's stock, valued at approximately $4,515,000.

Several other large investors also recently added to or reduced their stakes in TEL. Brighton Jones LLC purchased a new position in shares of TE Connectivity during the fourth quarter valued at $820,000. Sivia Capital Partners LLC lifted its stake in TE Connectivity by 66.7% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,517 shares of the electronics maker's stock worth $425,000 after acquiring an additional 1,007 shares in the last quarter. Walleye Capital LLC lifted its stake in TE Connectivity by 14.6% in the 2nd quarter. Walleye Capital LLC now owns 2,688 shares of the electronics maker's stock worth $453,000 after acquiring an additional 343 shares in the last quarter. Squarepoint Ops LLC boosted its position in TE Connectivity by 1,214.0% during the 2nd quarter. Squarepoint Ops LLC now owns 105,267 shares of the electronics maker's stock worth $17,755,000 after acquiring an additional 97,256 shares during the period. Finally, Ieq Capital LLC boosted its position in TE Connectivity by 75.0% during the 2nd quarter. Ieq Capital LLC now owns 23,284 shares of the electronics maker's stock worth $3,927,000 after acquiring an additional 9,980 shares during the period. 91.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 9,400 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $215.00, for a total value of $2,021,000.00. Following the transaction, the insider directly owned 25,976 shares of the company's stock, valued at approximately $5,584,840. This trade represents a 26.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.60% of the company's stock.

Analyst Ratings Changes

TEL has been the subject of several research reports. HSBC cut 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. Evercore reiterated an "in-line" rating and issued a $230.00 target price on shares of TE Connectivity in a research report on Monday, June 22nd. Weiss Ratings reissued a "buy (b)" rating on shares of TE Connectivity in a research note on Friday, July 24th. Robert W. Baird lowered their price target on shares of TE Connectivity from $240.00 to $225.00 and set an "outperform" rating on the stock in a report on Thursday, July 23rd. Finally, Wall Street Zen lowered TE Connectivity from a "buy" rating to a "hold" rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $251.15.

TE Connectivity Price Performance

NYSE TEL opened at $216.43 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.88 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $62.66 billion, a PE ratio of 21.22, a price-to-earnings-growth ratio of 1.45 and a beta of 1.16. TE Connectivity Ltd. has a 12-month low of $190.27 and a 12-month high of $252.56. The company has a 50 day moving average price of $206.67 and a two-hundred day moving average price of $212.83.

TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The electronics maker reported $2.94 earnings per share for the quarter, beating analysts' consensus estimates of $2.85 by $0.09. The business had revenue of $5.16 billion for the quarter, compared to the consensus estimate of $5.01 billion. TE Connectivity had a net margin of 15.61% and a return on equity of 24.59%. TE Connectivity's revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.27 EPS. TE Connectivity has set its Q4 2026 guidance at 3.050-3.050 EPS. As a group, equities analysts predict that TE Connectivity Ltd. will post 11.48 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 11th. Stockholders of record on Friday, August 21st will be issued a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.4%. TE Connectivity's dividend payout ratio is currently 30.59%.

About TE Connectivity

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source