TE Connectivity Ltd. $TEL Holdings Decreased by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon cut its TE Connectivity stake by 17% in the first quarter, selling 747,187 shares and ending with 3.66 million shares worth about $764.3 million.
• TE Connectivity reported better-than-expected quarterly results, with EPS of $2.73 versus $2.70 expected and revenue of $4.74 billion, up 14.4% year over year.
• The company also announced a quarterly dividend of $0.78 per share, while analysts currently rate the stock a consensus Moderate Buy with an average price target of $255.31.

Bank of New York Mellon Corp reduced its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 17.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,656,607 shares of the electronics maker's stock after selling 747,187 shares during the period. Bank of New York Mellon Corp owned about 1.25% of TE Connectivity worth $764,304,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TEL. Gulf International Bank UK Ltd increased its stake in TE Connectivity by 0.3% during the fourth quarter. Gulf International Bank UK Ltd now owns 14,999 shares of the electronics maker's stock valued at $3,412,000 after purchasing an additional 44 shares during the last quarter. MCF Advisors LLC boosted its holdings in shares of TE Connectivity by 14.1% in the 4th quarter. MCF Advisors LLC now owns 364 shares of the electronics maker's stock valued at $83,000 after buying an additional 45 shares during the period. Webster Bank N. A. boosted its holdings in shares of TE Connectivity by 19.1% in the 4th quarter. Webster Bank N. A. now owns 287 shares of the electronics maker's stock valued at $65,000 after buying an additional 46 shares during the period. CYBER HORNET ETFs LLC grew its position in shares of TE Connectivity by 5.6% during the 4th quarter. CYBER HORNET ETFs LLC now owns 887 shares of the electronics maker's stock valued at $202,000 after buying an additional 47 shares during the last quarter. Finally, Harbour Investments Inc. raised its stake in TE Connectivity by 4.2% during the fourth quarter. Harbour Investments Inc. now owns 1,193 shares of the electronics maker's stock worth $271,000 after acquiring an additional 48 shares during the period. 91.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TEL. The Goldman Sachs Group set a $286.00 target price on shares of TE Connectivity in a report on Wednesday, April 22nd. Jefferies Financial Group upgraded TE Connectivity from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 15th. Truist Financial cut their price target on TE Connectivity from $244.00 to $240.00 and set a "hold" rating on the stock in a report on Thursday, April 23rd. Wells Fargo & Company boosted their price objective on TE Connectivity from $226.00 to $230.00 and gave the company an "equal weight" rating in a research report on Thursday, June 25th. Finally, Weiss Ratings upgraded TE Connectivity from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, TE Connectivity currently has a consensus rating of "Moderate Buy" and an average price target of $255.31.

TE Connectivity Stock Performance

Shares of TEL stock opened at $202.77 on Friday. TE Connectivity Ltd. has a 12-month low of $175.28 and a 12-month high of $252.56. The firm has a market capitalization of $59.19 billion, a price-to-earnings ratio of 20.71, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17. The business has a 50 day simple moving average of $205.92 and a 200 day simple moving average of $216.05. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.89 and a quick ratio of 1.20.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The electronics maker reported $2.73 EPS for the quarter, beating the consensus estimate 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 firm's revenue was up 14.4% compared to the same quarter last year. During the same period last year, the firm earned $2.10 EPS. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. On average, equities research analysts anticipate that TE Connectivity Ltd. will post 11.31 EPS for the current year.

TE Connectivity Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, August 21st. TE Connectivity's dividend payout ratio (DPR) is 31.87%.

Insider Buying and Selling at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 9,400 shares of TE Connectivity stock in a transaction dated 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 sale, the insider directly owned 25,976 shares in the company, valued at $5,584,840. The trade was a 26.57% decrease in their ownership of the stock. The sale 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. 0.60% of the stock is currently owned by corporate 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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