State of Michigan Retirement System Has $20.75 Million Position in TE Connectivity Ltd. $TEL

Key Points

• State of Michigan Retirement System trimmed its stake in TE Connectivity to 91,223 shares (a 5.9% reduction), leaving its holding valued at about $20.75 million at quarter-end.
• Company insiders have been net sellers recently—42,345 shares worth roughly $9.63 million were sold over the last three months, including a 9,400-share sale by Shadrak W. Kroeger for about $2.2 million.
• TE Connectivity reported a quarterly EPS beat ($2.73 vs. $2.70) with revenue up 14.4% year-over-year, and the board authorized a $3.00 billion buyback while also raising the quarterly dividend to $0.78 (annualized $3.12, ~1.5% yield).

State of Michigan Retirement System lowered its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,223 shares of the electronics maker's stock after selling 5,700 shares during the quarter. State of Michigan Retirement System's holdings in TE Connectivity were worth $20,754,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Inscription Capital LLC lifted its stake in TE Connectivity by 2.1% in the fourth quarter. Inscription Capital LLC now owns 4,864 shares of the electronics maker's stock valued at $1,107,000 after buying an additional 100 shares in the last quarter. ST Germain D J Co. Inc. lifted its stake in TE Connectivity by 12.2% in the fourth quarter. ST Germain D J Co. Inc. now owns 1,196 shares of the electronics maker's stock valued at $272,000 after buying an additional 130 shares in the last quarter. UBS Group AG lifted its stake in TE Connectivity by 9.1% in the fourth quarter. UBS Group AG now owns 1,178,824 shares of the electronics maker's stock valued at $268,194,000 after buying an additional 98,775 shares in the last quarter. High Point Wealth Management LLC bought a new position in TE Connectivity in the fourth quarter valued at approximately $53,000. Finally, Vanguard Group Inc. lifted its stake in TE Connectivity by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 38,421,283 shares of the electronics maker's stock valued at $8,741,226,000 after buying an additional 168,142 shares in the last quarter. Institutional investors own 91.43% of the company's stock.

Insider Buying and Selling

In related news, insider Shadrak W. Kroeger sold 9,400 shares of the business's stock in a transaction 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 transaction, the insider directly owned 32,541 shares in the company, valued at approximately $7,608,736.62. The trade was a 22.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Reuben M. Shaffer sold 1,425 shares of the business's stock in a transaction on Friday, February 13th. The stock was sold at an average price of $234.23, for a total transaction of $333,777.75. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 42,345 shares of company stock worth $9,627,260. Insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TEL. Wells Fargo & Company lifted their price target 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. Weiss Ratings raised TE Connectivity from a "hold (c+)" rating to a "buy (b)" rating in a research report on Friday, February 6th. Wall Street Zen raised TE Connectivity from a "buy" rating to a "strong-buy" rating in a research report on Sunday, January 11th. HSBC cut 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. Finally, Barclays reduced their price objective on TE Connectivity from $302.00 to $297.00 and set an "overweight" rating for the company in a research report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, TE Connectivity has a consensus rating of "Moderate Buy" and an average target price of $256.57.

TE Connectivity Price Performance

NYSE:TEL opened at $209.43 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.20 and a current ratio of 1.89. The stock's 50-day simple moving average is $217.50 and its 200 day simple moving average is $226.34. The company has a market cap of $61.45 billion, a P/E ratio of 21.39, a P/E/G ratio of 1.52 and a beta of 1.26. TE Connectivity Ltd. has a 52-week low of $142.45 and a 52-week high of $252.56.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.70 by $0.03. The business had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.72 billion. TE Connectivity had a return on equity of 23.56% and a net margin of 15.54%.TE Connectivity's quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.10 earnings per share. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. As a group, sell-side analysts forecast that TE Connectivity Ltd. will post 11.28 EPS for the current fiscal year.

TE Connectivity announced that its Board of Directors has initiated a stock buyback plan on Wednesday, March 11th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the electronics maker to purchase up to 5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

TE Connectivity Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 22nd will be issued a dividend of $0.78 per share. The ex-dividend date is Friday, May 22nd. This is a positive change from TE Connectivity's previous quarterly dividend of $0.71. This represents a $3.12 dividend on an annualized basis and a yield of 1.5%. TE Connectivity's dividend payout ratio is presently 29.01%.

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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