SVB Wealth LLC Sells 6,591 Shares of TE Connectivity Ltd. $TEL

Key Points

• SVB Wealth LLC cut its TE Connectivity stake by 50.4% in the fourth quarter, selling 6,591 shares and leaving it with 6,482 shares valued at about $1.48 million.
• TE Connectivity reported better-than-expected quarterly results, with EPS of $2.73 versus $2.70 expected and revenue of $4.74 billion versus $4.72 billion expected, 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 buyback program, signaling confidence in the stock’s valuation.

SVB Wealth LLC reduced its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 50.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,482 shares of the electronics maker's stock after selling 6,591 shares during the quarter. SVB Wealth LLC's holdings in TE Connectivity were worth $1,475,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. EWA LLC purchased a new position in shares of TE Connectivity in the 4th quarter valued at approximately $222,000. NewEdge Wealth LLC lifted its stake in shares of TE Connectivity by 20.4% in the 4th quarter. NewEdge Wealth LLC now owns 41,715 shares of the electronics maker's stock valued at $9,491,000 after purchasing an additional 7,057 shares during the period. Crossmark Global Holdings Inc. lifted its stake in shares of TE Connectivity by 1.5% in the 4th quarter. Crossmark Global Holdings Inc. now owns 83,964 shares of the electronics maker's stock valued at $19,103,000 after purchasing an additional 1,273 shares during the period. Ethic Inc. lifted its stake in shares of TE Connectivity by 3.1% in the 4th quarter. Ethic Inc. now owns 34,551 shares of the electronics maker's stock valued at $7,861,000 after purchasing an additional 1,040 shares during the period. Finally, Ballentine Partners LLC lifted its stake in shares of TE Connectivity by 1.5% in the 4th quarter. Ballentine Partners LLC now owns 4,357 shares of the electronics maker's stock valued at $991,000 after purchasing an additional 66 shares during the period. Hedge funds and other institutional investors own 91.43% of the company's stock.

TE Connectivity Trading Down 0.3%

TE Connectivity stock 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. The business's fifty day simple moving average is $213.04 and its two-hundred day simple moving average is $225.54. TE Connectivity Ltd. has a 12 month low of $154.86 and a 12 month high of $252.56. The company has a market capitalization of $60.01 billion, a price-to-earnings ratio of 21.00, a price-to-earnings-growth ratio of 1.46 and a beta of 1.18.

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

TE Connectivity Increases Dividend

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

TE Connectivity announced that its board has authorized a share buyback program on Wednesday, March 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the electronics maker to buy up to 5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

TEL has been the subject of a number of research analyst reports. The Goldman Sachs Group set a $286.00 target price on TE Connectivity in a research note on Wednesday, April 22nd. Zacks Research upgraded TE Connectivity from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 27th. HSBC cut TE Connectivity from a "buy" rating to a "hold" rating and set a $234.00 target price for the company. in a research note on Thursday, April 23rd. Wells Fargo & Company raised their target price on 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, Oppenheimer raised their target price on TE Connectivity from $270.00 to $285.00 and gave the company an "outperform" rating in a research note on Friday, February 13th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $256.57.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, SVP Reuben M. Shaffer sold 1,425 shares of the firm'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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Shadrak W. Kroeger sold 9,400 shares of the stock in a transaction on Friday, February 13th. The shares were sold at an average price of $233.82, for a total value of $2,197,908.00. Following the sale, the insider directly owned 32,541 shares in the company, valued at $7,608,736.62. This trade represents a 22.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 45,590 shares of company stock worth $10,276,864 over the last 90 days. 0.60% of the stock is currently owned by company insiders.

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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