Securian Asset Management Inc. Sells 6,242 Shares of TE Connectivity Ltd. $TEL

Key Points

• Securian Asset Management cut its TE Connectivity stake by 43.8% in the fourth quarter, selling 6,242 shares and ending with 7,999 shares worth about $1.82 million.
• TE Connectivity reported better-than-expected quarterly results, with EPS of $2.73 and revenue of $4.74 billion, while revenue rose 14.4% year over year.
• The company boosted its quarterly dividend to $0.78 per share from $0.71 and also authorized a $3 billion share repurchase plan.

Securian Asset Management Inc. reduced its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 43.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,999 shares of the electronics maker's stock after selling 6,242 shares during the period. Securian Asset Management Inc.'s holdings in TE Connectivity were worth $1,820,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. J. Safra Sarasin Holding AG boosted its stake in TE Connectivity by 132.5% in the 3rd quarter. J. Safra Sarasin Holding AG now owns 13,446 shares of the electronics maker's stock worth $2,952,000 after purchasing an additional 7,664 shares in the last quarter. Principal Financial Group Inc. boosted its stake in TE Connectivity by 7.0% in the 3rd quarter. Principal Financial Group Inc. now owns 336,394 shares of the electronics maker's stock worth $73,849,000 after purchasing an additional 21,882 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in TE Connectivity by 11.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,231 shares of the electronics maker's stock worth $10,369,000 after purchasing an additional 4,813 shares in the last quarter. Nordea Investment Management AB boosted its stake in TE Connectivity by 3.5% in the 3rd quarter. Nordea Investment Management AB now owns 1,662,615 shares of the electronics maker's stock worth $363,215,000 after purchasing an additional 56,833 shares in the last quarter. Finally, Caprock Group LLC acquired a new stake in TE Connectivity in the 3rd quarter worth approximately $2,419,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

TE Connectivity Stock Performance

Shares of NYSE TEL opened at $205.59 on Tuesday. The company has a current ratio of 1.89, a quick ratio of 1.20 and a debt-to-equity ratio of 0.42. TE Connectivity Ltd. has a 12 month low of $154.86 and a 12 month high of $252.56. The company has a 50 day simple moving average of $213.04 and a two-hundred day simple moving average of $225.54. The stock has a market cap of $60.01 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 1.46 and a beta of 1.18.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The electronics maker reported $2.73 EPS for the quarter, beating the consensus estimate of $2.70 by $0.03. The business had revenue of $4.74 billion during the quarter, compared to analysts' expectations of $4.72 billion. TE Connectivity had a net margin of 15.54% and a return on equity of 23.56%. The business's quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.10 EPS. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. As a group, analysts predict that TE Connectivity Ltd. will post 11.28 earnings per share for the current year.

TE Connectivity Increases Dividend

The company 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 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 payout ratio is presently 29.01%.

TE Connectivity declared that its board has authorized a stock repurchase plan on Wednesday, March 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the electronics maker to repurchase up to 5% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TEL. Zacks Research upgraded shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 27th. Truist Financial decreased their price objective on shares of TE Connectivity from $244.00 to $240.00 and set a "hold" rating for the company in a research note on Thursday, April 23rd. UBS Group decreased their price objective on shares of TE Connectivity from $272.00 to $261.00 and set a "buy" rating for the company in a research note on Thursday, April 23rd. Wells Fargo & Company lifted their price objective 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. Finally, Barclays decreased their price objective on shares of TE Connectivity from $302.00 to $297.00 and set an "overweight" rating for the company in a research note on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $256.57.

Insider Activity at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 9,400 shares of TE Connectivity stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $233.82, for a total transaction of $2,197,908.00. Following the completion of the transaction, the insider directly owned 32,541 shares of the company's stock, valued at $7,608,736.62. The trade was a 22.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Reuben M. Shaffer sold 1,425 shares of TE Connectivity stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $234.23, for a total transaction of $333,777.75. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 45,590 shares of company stock valued at $10,276,864. Insiders own 0.60% of the company's stock.

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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