Seascape Capital Management Purchases New Shares in TE Connectivity Ltd. $TEL

Key Points

• Seascape Capital Management opened a new position in TE Connectivity during the first quarter, buying 10,793 shares valued at about $2.26 million.
• TE Connectivity reported better-than-expected quarterly results, with EPS of $2.73 on revenue of $4.74 billion, and revenue rose 14.4% year over year.
• The company also announced a quarterly dividend of $0.78 per share and authorized a $3 billion share repurchase plan, while analysts currently rate the stock a Moderate Buy with a consensus target of $254.93.

Seascape Capital Management acquired a new stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 10,793 shares of the electronics maker's stock, valued at approximately $2,256,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Gulf International Bank UK Ltd grew its stake in shares of TE Connectivity by 0.3% in the fourth quarter. Gulf International Bank UK Ltd now owns 14,999 shares of the electronics maker's stock valued at $3,412,000 after acquiring an additional 44 shares in the last quarter. MCF Advisors LLC raised its stake in TE Connectivity by 14.1% in the 4th quarter. MCF Advisors LLC now owns 364 shares of the electronics maker's stock worth $83,000 after purchasing an additional 45 shares in the last quarter. Webster Bank N. A. boosted its holdings in TE Connectivity by 19.1% in the 4th quarter. Webster Bank N. A. now owns 287 shares of the electronics maker's stock valued at $65,000 after purchasing an additional 46 shares during the period. CYBER HORNET ETFs LLC boosted its holdings in TE Connectivity by 5.6% in the 4th quarter. CYBER HORNET ETFs LLC now owns 887 shares of the electronics maker's stock valued at $202,000 after purchasing an additional 47 shares during the period. Finally, Harbour Investments Inc. grew its position in shares of TE Connectivity by 4.2% during the 4th quarter. Harbour Investments Inc. now owns 1,193 shares of the electronics maker's stock worth $271,000 after purchasing an additional 48 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Barclays lifted their price target on shares of TE Connectivity from $297.00 to $300.00 and gave the company an "overweight" rating in a research report on Monday, June 15th. Wall Street Zen downgraded TE Connectivity from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 2nd. Wells Fargo & Company raised their price objective on TE Connectivity from $226.00 to $230.00 and gave the stock an "equal weight" rating in a research note on Thursday, June 25th. Zacks Research downgraded TE Connectivity from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 8th. Finally, Evercore restated an "in-line" rating and issued a $230.00 price target on shares of TE Connectivity in a research report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $254.93.

TE Connectivity Stock Performance

Shares of NYSE:TEL opened at $197.63 on Monday. TE Connectivity Ltd. has a 1 year low of $170.58 and a 1 year high of $252.56. The stock has a market capitalization of $57.69 billion, a price-to-earnings ratio of 20.19, a price-to-earnings-growth ratio of 1.39 and a beta of 1.17. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.89 and a quick ratio of 1.20. The company's 50 day simple moving average is $207.92 and its 200 day simple moving average is $217.96.

TE Connectivity (NYSE:TEL - Get Free Report) last released its earnings results on Wednesday, April 22nd. The electronics maker reported $2.73 earnings per share for the quarter, topping the consensus estimate of $2.70 by $0.03. The firm had revenue of $4.74 billion during the quarter, compared to analysts' expectations of $4.72 billion. TE Connectivity had a return on equity of 23.56% and a net margin of 15.54%.The company's quarterly revenue was up 14.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.10 earnings per share. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. As a group, research analysts predict that TE Connectivity Ltd. will post 11.33 EPS for the current fiscal year.

TE Connectivity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, August 21st. TE Connectivity's dividend payout ratio is currently 31.87%.

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

Insiders Place Their Bets

In other TE Connectivity news, insider Shadrak W. Kroeger sold 9,400 shares of TE Connectivity stock in a transaction dated 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 owned 25,976 shares in the company, valued at $5,584,840. The trade was a 26.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,200 shares of company stock valued at $6,140,644 over the last quarter. Company insiders own 0.60% of the company's stock.

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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