Strs Ohio Reduces Stock Holdings in TE Connectivity Ltd. $TEL

Key Points

• Strs Ohio cut its TE Connectivity stake by 19.7% in the first quarter, selling 39,000 shares and leaving it with 159,000 shares valued at about $33.2 million.
• Wall Street remains constructive on TEL, with analysts issuing a consensus Moderate Buy and an average price target of $254.93. Several firms recently raised or reiterated targets in the $230 to $300 range.
• TE Connectivity posted solid quarterly results and shareholder returns, beating EPS and revenue estimates, announcing a quarterly dividend of $0.78 per share, and maintaining a $3 billion share buyback authorization.

Strs Ohio reduced its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 19.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 159,000 shares of the electronics maker's stock after selling 39,000 shares during the quarter. Strs Ohio owned approximately 0.05% of TE Connectivity worth $33,234,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TEL. Kohmann Bosshard Financial Services LLC bought a new stake in shares of TE Connectivity during the 4th quarter valued at about $25,000. Geneos Wealth Management Inc. lifted its holdings in TE Connectivity by 189.6% in the second quarter. Geneos Wealth Management Inc. now owns 194 shares of the electronics maker's stock worth $33,000 after buying an additional 127 shares during the period. Commonwealth Retirement Investments LLC bought a new stake in TE Connectivity during the 4th quarter valued at approximately $40,000. MV Capital Management Inc. purchased a new position in shares of TE Connectivity during the 4th quarter worth approximately $41,000. Finally, JFS Wealth Advisors LLC raised its position in shares of TE Connectivity by 54.6% in the 4th quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker's stock worth $42,000 after acquiring an additional 65 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TEL. The Goldman Sachs Group set a $286.00 price target on TE Connectivity in a research report on Wednesday, April 22nd. Evercore reissued an "in-line" rating and set a $230.00 price objective on shares of TE Connectivity in a research report on Monday, June 22nd. Barclays boosted their target price on shares of TE Connectivity from $297.00 to $300.00 and gave the company an "overweight" rating in a report on Monday, June 15th. Wall Street Zen lowered shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 2nd. Finally, Wells Fargo & Company lifted their price target on shares of TE Connectivity from $226.00 to $230.00 and gave the company an "equal weight" rating in a research report on Thursday, June 25th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $254.93.

Insider Activity

In related news, insider Shadrak W. Kroeger sold 9,400 shares of TE Connectivity stock in a transaction on 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 completion of the sale, the insider 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 sale 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. In the last quarter, insiders sold 28,200 shares of company stock valued at $6,140,644. Company insiders own 0.60% of the company's stock.

TE Connectivity Stock Performance

Shares of TEL stock opened at $197.63 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.89 and a debt-to-equity ratio of 0.42. The company has a 50 day moving average price of $207.92 and a 200-day moving average price of $218.05. TE Connectivity Ltd. has a 52 week low of $170.58 and a 52 week high of $252.56. The firm has a market capitalization of $57.69 billion, a PE ratio of 20.19, a P/E/G ratio of 1.39 and a beta of 1.17.

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

TE Connectivity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be issued 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 of this dividend is Friday, August 21st. TE Connectivity's dividend payout ratio is presently 31.87%.

TE Connectivity announced that its board has initiated a share buyback 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 stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its stock is undervalued.

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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