TD Asset Management Inc Acquires 44,930 Shares of TE Connectivity Ltd. $TEL

Key Points

• TD Asset Management Inc. increased its TE Connectivity stake by 14.1% in the fourth quarter, buying 44,930 additional shares and bringing its total holding to 363,538 shares worth about $82.7 million.
• TE Connectivity reported solid quarterly results, with EPS of $2.73 and revenue of $4.74 billion, both slightly ahead of analyst expectations; revenue also rose 14.4% year over year.
• The company boosted its quarterly dividend to $0.78 per share from $0.71 and continues a $3 billion share repurchase authorization, while analysts currently rate the stock a “Moderate Buy” with an average price target of $256.57.

TD Asset Management Inc lifted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 14.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 363,538 shares of the electronics maker's stock after acquiring an additional 44,930 shares during the quarter. TD Asset Management Inc owned approximately 0.12% of TE Connectivity worth $82,709,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Caprock Group LLC purchased a new stake in shares of TE Connectivity during the third quarter valued at about $2,419,000. State of New Jersey Common Pension Fund D lifted its position in shares of TE Connectivity by 7.0% during the third quarter. State of New Jersey Common Pension Fund D now owns 103,287 shares of the electronics maker's stock valued at $22,675,000 after buying an additional 6,755 shares during the last quarter. Power Wealth Management LLC lifted its position in shares of TE Connectivity by 226.5% during the third quarter. Power Wealth Management LLC now owns 8,979 shares of the electronics maker's stock valued at $1,971,000 after buying an additional 6,229 shares during the last quarter. Darwin Wealth Management LLC purchased a new stake in shares of TE Connectivity during the fourth quarter valued at about $1,983,000. Finally, Bowen Hanes & Co. Inc. purchased a new stake in shares of TE Connectivity during the third quarter valued at about $42,808,000. Institutional investors own 91.43% of the company's stock.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 9,400 shares of TE Connectivity stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $215.00, for a total transaction of $2,021,000.00. Following the completion of the transaction, the insider directly owned 25,976 shares of the company's stock, valued at $5,584,840. The trade was a 26.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 28,200 shares of company stock worth $6,140,644. 0.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on TEL. The Goldman Sachs Group set a $286.00 price target on shares of TE Connectivity in a research report on Wednesday, April 22nd. Wells Fargo & Company increased 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 report on Thursday, April 23rd. Jefferies Financial Group raised shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 15th. UBS Group lowered their target price on shares of TE Connectivity from $272.00 to $261.00 and set a "buy" rating for the company in a research note on Thursday, April 23rd. Finally, Weiss Ratings upgraded shares of TE Connectivity from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, April 29th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, TE Connectivity currently has an average rating of "Moderate Buy" and an average price target of $256.57.

TE Connectivity Stock Performance

TEL opened at $212.70 on Friday. 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 firm has a market capitalization of $62.09 billion, a PE ratio of 21.73, a P/E/G ratio of 1.56 and a beta of 1.16. The firm has a 50 day moving average of $214.26 and a two-hundred day moving average of $221.29. TE Connectivity Ltd. has a 12-month low of $162.17 and a 12-month high of $252.56.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The electronics maker reported $2.73 earnings per share for the quarter, beating the consensus estimate of $2.70 by $0.03. The firm had revenue of $4.74 billion during 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 business's quarterly revenue was up 14.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.10 EPS. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. On average, analysts anticipate that TE Connectivity Ltd. will post 11.28 EPS for the current year.

TE Connectivity declared that its board has authorized a stock repurchase 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 shares through open market purchases. Shares buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

TE Connectivity Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 22nd will be issued a dividend of $0.78 per share. This is a positive change 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 annualized dividend and a dividend yield of 1.5%. TE Connectivity's payout ratio is presently 31.87%.

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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