State of Alaska Department of Revenue Decreases Holdings in TE Connectivity Ltd. $TEL

Key Points

• The State of Alaska Department of Revenue reduced its holdings in TE Connectivity Ltd. by 4.7%, now owning 33,314 shares valued at approximately $5.62 million.
• TE Connectivity reported earnings of $2.27 per share for the last quarter, surpassing estimates, with revenue up 13.9% year-over-year.
• The company also announced a quarterly dividend of $0.71 per share, which will be paid on December 12th, representing an annual yield of 1.3%.

State of Alaska Department of Revenue trimmed its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 4.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,314 shares of the electronics maker's stock after selling 1,630 shares during the period. State of Alaska Department of Revenue's holdings in TE Connectivity were worth $5,619,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Patron Partners LLC increased its stake in TE Connectivity by 18.5% in the 2nd quarter. Patron Partners LLC now owns 1,882 shares of the electronics maker's stock worth $317,000 after purchasing an additional 294 shares during the period. Perigon Wealth Management LLC purchased a new position in TE Connectivity in the 2nd quarter worth approximately $255,000. Fifth Third Bancorp increased its stake in TE Connectivity by 1.7% in the 2nd quarter. Fifth Third Bancorp now owns 43,942 shares of the electronics maker's stock worth $7,412,000 after purchasing an additional 726 shares during the period. Oliver Luxxe Assets LLC purchased a new position in TE Connectivity in the 2nd quarter worth approximately $4,859,000. Finally, Armstrong Advisory Group Inc. increased its stake in TE Connectivity by 150.5% in the 2nd quarter. Armstrong Advisory Group Inc. now owns 556 shares of the electronics maker's stock worth $94,000 after purchasing an additional 334 shares during the period. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Trading Up 1.3%

NYSE TEL opened at $217.16 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.52 and a debt-to-equity ratio of 0.39. TE Connectivity Ltd. has a twelve month low of $116.30 and a twelve month high of $221.00. The firm has a market capitalization of $64.17 billion, a PE ratio of 44.96, a P/E/G ratio of 2.58 and a beta of 1.23. The stock's 50 day moving average is $206.40 and its 200 day moving average is $172.35.

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

TE Connectivity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 21st will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, November 21st. TE Connectivity's payout ratio is 58.80%.

Insider Buying and Selling

In other TE Connectivity news, SVP Malavika Sagar sold 1,945 shares of the business's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $207.20, for a total value of $403,004.00. Following the sale, the senior vice president directly owned 4,716 shares of the company's stock, valued at approximately $977,155.20. The trade was a 29.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John S. Jenkins sold 45,850 shares of the business's stock in a transaction 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 sale, the executive vice president directly owned 24,625 shares in the company, 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. Over the last ninety days, insiders sold 124,545 shares of company stock valued at $25,040,158. 0.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TEL. JPMorgan Chase & Co. boosted their target price on TE Connectivity from $186.00 to $204.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Robert W. Baird set a $232.00 target price on TE Connectivity in a research note on Wednesday, September 3rd. Wall Street Zen cut TE Connectivity from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 31st. Bank of America boosted their target price on TE Connectivity from $168.00 to $190.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. Finally, Wells Fargo & Company boosted their target price on TE Connectivity from $198.00 to $215.00 and gave the company an "equal weight" rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $202.91.

About TE Connectivity

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.

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