Swedbank AB Boosts Holdings in TE Connectivity Ltd. $TEL

Key Points

• Swedbank AB increased its stake in TE Connectivity by 8.1% in the fourth quarter, ending with 84,831 shares valued at about $19.3 million.
• TE Connectivity posted solid quarterly results, with earnings per share of $2.73 and revenue of $4.74 billion, both slightly above analyst expectations and up 14.4% year over year.
• The company raised its dividend and expanded buybacks, boosting the quarterly payout to $0.78 from $0.71 and authorizing a $3 billion share repurchase program.

Swedbank AB boosted its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 8.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,831 shares of the electronics maker's stock after purchasing an additional 6,385 shares during the quarter. Swedbank AB's holdings in TE Connectivity were worth $19,300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in TEL. Arrowstreet Capital Limited Partnership increased its holdings in shares of TE Connectivity by 26,798.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,383,932 shares of the electronics maker's stock worth $303,815,000 after buying an additional 1,378,787 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of TE Connectivity by 27.5% in the 2nd quarter. Bank of America Corp DE now owns 6,274,917 shares of the electronics maker's stock worth $1,058,390,000 after buying an additional 1,352,152 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of TE Connectivity by 183.6% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,530,414 shares of the electronics maker's stock worth $348,184,000 after buying an additional 990,703 shares during the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of TE Connectivity by 243.2% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,359,191 shares of the electronics maker's stock worth $298,383,000 after buying an additional 963,123 shares during the last quarter. Finally, Capital International Investors increased its holdings in shares of TE Connectivity by 44.4% in the 3rd quarter. Capital International Investors now owns 2,626,754 shares of the electronics maker's stock worth $576,384,000 after buying an additional 807,702 shares during the last quarter. Institutional investors own 91.43% of the company's stock.

Insiders Place Their Bets

In other TE Connectivity news, insider Shadrak W. Kroeger sold 9,400 shares of the firm's stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $215.00, for a total value of $2,021,000.00. Following the sale, the insider owned 25,976 shares of the company's stock, valued at $5,584,840. This trade represents a 26.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Reuben M. Shaffer sold 1,425 shares of the firm's stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $234.23, for a total transaction of $333,777.75. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 51,745 shares of company stock valued at $11,648,260 in the last quarter. Insiders own 0.60% of the company's stock.

TE Connectivity Price Performance

Shares of TE Connectivity stock opened at $205.82 on Friday. The firm has a market cap of $60.08 billion, a PE ratio of 21.02, a price-to-earnings-growth ratio of 1.49 and a beta of 1.18. TE Connectivity Ltd. has a 12-month low of $152.27 and a 12-month high of $252.56. 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's fifty day simple moving average is $214.39 and its two-hundred day simple moving average is $225.85.

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

TE Connectivity announced that its board has approved a stock buyback program on Wednesday, March 11th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the electronics maker to purchase up to 5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

TE Connectivity Increases Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Wall Street Zen lowered shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 2nd. Wells Fargo & Company increased their price target on shares of TE Connectivity from $214.00 to $226.00 and gave the stock an "equal weight" rating in a report on Thursday, April 23rd. Oppenheimer increased their price target on shares of TE Connectivity from $270.00 to $285.00 and gave the stock an "outperform" rating in a report on Friday, February 13th. HSBC lowered shares of TE Connectivity from a "buy" rating to a "hold" rating and set a $234.00 price target on the stock. in a report on Thursday, April 23rd. Finally, Weiss Ratings raised shares of TE Connectivity from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, April 29th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $256.57.

TE Connectivity Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.