Acadian Asset Management LLC Increases Position in TE Connectivity Ltd. $TEL

Key Points

• Acadian Asset Management LLC increased its stake in TE Connectivity Ltd. by 0.7%, owning 573,597 shares valued at approximately $81 million as of the latest SEC filing.
• Several other institutional investors, including Vanguard Group Inc. and Wellington Management Group LLP, significantly raised their positions in TE Connectivity during the first quarter of 2023.
• TE Connectivity's earnings for the last quarter surpassed analysts' expectations, reporting $2.27 EPS against a forecast of $2.08, and a year-over-year revenue increase of 13.9%.

Acadian Asset Management LLC lifted its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 0.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 573,597 shares of the electronics maker's stock after purchasing an additional 3,840 shares during the quarter. Acadian Asset Management LLC owned 0.19% of TE Connectivity worth $81,044,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of TEL. Cambridge Investment Research Advisors Inc. increased its holdings in TE Connectivity by 1.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 17,540 shares of the electronics maker's stock valued at $2,479,000 after buying an additional 192 shares during the period. Parallax Volatility Advisers L.P. bought a new position in TE Connectivity in the first quarter valued at about $310,000. Assenagon Asset Management S.A. raised its stake in TE Connectivity by 2.1% during the first quarter. Assenagon Asset Management S.A. now owns 24,879 shares of the electronics maker's stock worth $3,516,000 after acquiring an additional 511 shares in the last quarter. Brighton Jones LLC bought a new position in shares of TE Connectivity in the fourth quarter worth about $820,000. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of TE Connectivity by 0.5% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 139,758 shares of the electronics maker's stock valued at $19,751,000 after purchasing an additional 760 shares in the last quarter. Institutional investors own 91.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Bank of America raised their target price on shares of TE Connectivity from $168.00 to $190.00 and gave the company a "buy" rating in a research report on Thursday, July 10th. UBS Group boosted their price objective on TE Connectivity from $185.00 to $201.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Evercore ISI upped their target price on TE Connectivity from $200.00 to $225.00 and gave the stock an "outperform" rating in a report on Tuesday, August 12th. Wells Fargo & Company lifted their price target on TE Connectivity from $170.00 to $198.00 and gave the company an "equal weight" rating in a research note on Thursday, July 24th. Finally, Citigroup upped their price objective on TE Connectivity from $200.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, TE Connectivity presently has an average rating of "Moderate Buy" and a consensus target price of $199.55.

TE Connectivity Stock Up 0.7%

Shares of TEL stock traded up $1.55 on Monday, reaching $211.37. 416,465 shares of the company were exchanged, compared to its average volume of 1,807,954. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.52 and a quick ratio of 0.96. The company has a 50-day moving average of $198.35 and a 200-day moving average of $167.62. The company has a market cap of $62.46 billion, a price-to-earnings ratio of 43.76, a PEG ratio of 2.49 and a beta of 1.23. TE Connectivity Ltd. has a one year low of $116.30 and a one year high of $215.22.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The electronics maker reported $2.27 earnings per share for the quarter, topping analysts' consensus estimates of $2.08 by $0.19. TE Connectivity had a return on equity of 20.22% and a net margin of 8.78%.The business had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same period in the prior year, the business earned $1.91 EPS. The firm's revenue for the quarter was up 13.9% on a year-over-year basis. TE Connectivity has set its Q4 2025 guidance at 2.270-2.270 EPS. Analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 21st will be given a $0.71 dividend. The ex-dividend date of this dividend is Friday, November 21st. This represents a $2.84 annualized dividend and a yield of 1.3%. TE Connectivity's dividend payout ratio (DPR) is presently 58.80%.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Aaron Kyle Stucki sold 52,900 shares of the company's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $192.78, for a total transaction of $10,198,062.00. Following the transaction, the insider owned 23,667 shares in the company, valued at approximately $4,562,524.26. This represents a 69.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Malavika Sagar sold 1,945 shares of TE Connectivity stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $207.20, for a total transaction of $403,004.00. Following the transaction, the senior vice president owned 4,716 shares of the company's stock, valued at $977,155.20. This represents a 29.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 137,645 shares of company stock worth $27,267,158. Company insiders own 0.90% of the company's stock.

About TE Connectivity

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.