Allstate Corp Raises Position in TE Connectivity Ltd. $TEL

Key Points

• Allstate Corp increased its stake in TE Connectivity Ltd. by 20.5%, owning 10,337 shares worth approximately $1.46 million as of the latest quarter.
• TE Connectivity reported a quarterly EPS of $2.27, surpassing analyst expectations of $2.08, with revenue of $4.53 billion, a 13.9% increase year-over-year.
• The company announced a quarterly dividend of $0.71 per share, with a dividend yield of 1.4% and a payout ratio of 58.80%.

Allstate Corp raised its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 20.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,337 shares of the electronics maker's stock after buying an additional 1,761 shares during the period. Allstate Corp's holdings in TE Connectivity were worth $1,461,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Martingale Asset Management L P grew its stake in TE Connectivity by 3.6% during the 1st quarter. Martingale Asset Management L P now owns 1,807 shares of the electronics maker's stock valued at $255,000 after acquiring an additional 63 shares in the last quarter. Ballentine Partners LLC grew its stake in TE Connectivity by 1.4% during the 1st quarter. Ballentine Partners LLC now owns 4,975 shares of the electronics maker's stock valued at $703,000 after acquiring an additional 68 shares in the last quarter. Vista Investment Management grew its stake in TE Connectivity by 0.5% during the 4th quarter. Vista Investment Management now owns 13,225 shares of the electronics maker's stock valued at $1,891,000 after acquiring an additional 70 shares in the last quarter. Silvercrest Asset Management Group LLC grew its stake in TE Connectivity by 2.1% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 3,732 shares of the electronics maker's stock valued at $534,000 after acquiring an additional 75 shares in the last quarter. Finally, Wedmont Private Capital grew its stake in TE Connectivity by 4.3% during the 1st quarter. Wedmont Private Capital now owns 1,944 shares of the electronics maker's stock valued at $275,000 after acquiring an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company's stock.

TE Connectivity Trading Up 0.2%

Shares of TEL stock traded up $0.32 during trading hours on Thursday, hitting $207.89. The company had a trading volume of 1,494,365 shares, compared to its average volume of 1,834,600. The company's fifty day moving average is $188.90 and its 200 day moving average is $162.81. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.52 and a quick ratio of 0.96. TE Connectivity Ltd. has a fifty-two week low of $116.30 and a fifty-two week high of $212.76. The stock has a market capitalization of $61.43 billion, a PE ratio of 43.04, a price-to-earnings-growth ratio of 2.46 and a beta of 1.23.

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

TE Connectivity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, August 22nd. TE Connectivity's dividend payout ratio is currently 58.80%.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $159.03, for a total transaction of $3,975,750.00. Following the sale, the insider directly owned 25,976 shares in the company, valued at $4,130,963.28. This represents a 49.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John S. Jenkins sold 45,850 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $209.33, for a total transaction of $9,597,780.50. Following the completion of the transaction, the executive vice president directly owned 24,625 shares of the company's stock, valued at $5,154,751.25. This represents a 65.06% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 138,795 shares of company stock valued at $26,401,597. 0.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Truist Financial upped their price objective on shares of TE Connectivity from $156.00 to $200.00 and gave the company a "hold" rating in a research note on Thursday, July 24th. Evercore ISI upped their price objective on shares of TE Connectivity from $200.00 to $225.00 and gave the company an "outperform" rating in a research note on Tuesday, August 12th. The Goldman Sachs Group reiterated a "buy" rating on shares of TE Connectivity in a report on Friday, July 11th. Wells Fargo & Company boosted their target price on shares of TE Connectivity from $170.00 to $198.00 and gave the company an "equal weight" rating in a report on Thursday, July 24th. Finally, UBS Group boosted their target price on shares of TE Connectivity from $185.00 to $201.00 and gave the company a "buy" rating in a report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, TE Connectivity presently has a consensus rating of "Moderate Buy" and an average price target of $197.55.

TE Connectivity Company Profile

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.