Sei Investments Co. Grows Stock Holdings in TE Connectivity Ltd. $TEL

Key Points

• Sei Investments boosted its TE Connectivity stake by 16.9% in the first quarter, buying 35,993 more shares and bringing its total to 248,692 shares worth about $52 million.
• TE Connectivity reported better-than-expected quarterly results, with EPS of $2.94 versus $2.85 expected and revenue of $5.16 billion versus $5.01 billion estimated. Revenue rose 13.8% year over year.
• Wall Street remains constructive but slightly cautious on the stock: analysts currently assign a consensus “Moderate Buy” rating with an average price target of $251.15, while several firms recently trimmed their targets.

Sei Investments Co. increased its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 16.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 248,692 shares of the electronics maker's stock after buying an additional 35,993 shares during the period. Sei Investments Co. owned about 0.09% of TE Connectivity worth $51,984,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Alamar Capital Management LLC purchased a new stake in shares of TE Connectivity during the first quarter worth about $2,553,000. Davis R M Inc. boosted its stake in TE Connectivity by 3.4% in the 1st quarter. Davis R M Inc. now owns 6,922 shares of the electronics maker's stock worth $1,447,000 after purchasing an additional 226 shares during the period. Lido Advisors LLC boosted its stake in TE Connectivity by 7.7% in the 1st quarter. Lido Advisors LLC now owns 8,397 shares of the electronics maker's stock worth $1,755,000 after purchasing an additional 601 shares during the period. First Citizens Bank & Trust Co. grew its holdings in TE Connectivity by 1.2% during the 1st quarter. First Citizens Bank & Trust Co. now owns 6,467 shares of the electronics maker's stock valued at $1,352,000 after buying an additional 78 shares in the last quarter. Finally, ABN Amro Investment Solutions bought a new stake in shares of TE Connectivity during the first quarter valued at approximately $5,937,000. 91.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TEL has been the topic of several research analyst reports. Citigroup lowered their target price on shares of TE Connectivity from $250.00 to $230.00 and set a "buy" rating on the stock in a report on Monday, July 13th. Wells Fargo & Company reduced their price target on shares of TE Connectivity from $230.00 to $209.00 and set an "equal weight" rating on the stock in a report on Thursday. HSBC lowered TE Connectivity from a "buy" rating to a "hold" rating and set a $234.00 price objective for the company. in a research report on Thursday, April 23rd. Evercore reaffirmed an "in-line" rating and issued a $230.00 target price on shares of TE Connectivity in a report on Monday, June 22nd. Finally, The Goldman Sachs Group set a $286.00 price target on TE Connectivity in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $251.15.

Insider Transactions at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 9,400 shares of TE Connectivity stock in a transaction on Monday, June 1st. The shares were sold at an average price of $215.00, for a total transaction of $2,021,000.00. Following the completion of the transaction, the insider directly owned 25,976 shares of the company's stock, valued at $5,584,840. The trade was a 26.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by corporate insiders.

TE Connectivity Trading Up 2.1%

TEL opened at $202.95 on Friday. The firm has a market cap of $59.24 billion, a P/E ratio of 19.90, a P/E/G ratio of 1.41 and a beta of 1.17. TE Connectivity Ltd. has a 12 month low of $190.27 and a 12 month high of $252.56. The company has a current ratio of 1.88, a quick ratio of 1.20 and a debt-to-equity ratio of 0.42. The stock has a 50-day moving average of $205.36 and a 200 day moving average of $215.01.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The electronics maker reported $2.94 earnings per share (EPS) 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 return on equity of 24.59% and a net margin of 15.61%.The company's quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.27 earnings per share. TE Connectivity has set its Q4 2026 guidance at 3.050-3.050 EPS. As a group, research analysts forecast that TE Connectivity Ltd. will post 11.45 EPS for the current year.

TE Connectivity Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be given a $0.78 dividend. The ex-dividend date is Friday, August 21st. This represents a $3.12 dividend on an annualized basis and a yield of 1.5%. TE Connectivity's dividend payout ratio (DPR) 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.

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