TE Connectivity Ltd. $TEL Shares Purchased by State Street Corp

Key Points

• State Street increased its TE Connectivity stake by 5.7% in the second quarter, acquiring 730,084 shares and bringing its holdings to 13.64 million shares valued at approximately $2.75 billion. Institutional investors collectively own 91.43% of the company.
• Analysts maintain a generally positive view, with TE Connectivity carrying a “Moderate Buy” consensus rating and an average price target of $252, despite some analysts lowering or taking a cautious stance on their targets.
• TE Connectivity exceeded quarterly expectations with adjusted earnings of $2.94 per share and revenue of $5.16 billion, while reporting 13.8% year-over-year revenue growth. The company also declared a quarterly dividend of $0.78 per share, representing a 1.5% annualized yield.

State Street Corp lifted its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 5.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 13,639,381 shares of the electronics maker's stock after acquiring an additional 730,084 shares during the period. State Street Corp owned 4.71% of TE Connectivity worth $2,750,079,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Security National Bank of Sioux City Iowa IA raised its stake in TE Connectivity by 26.6% during the 2nd quarter. Security National Bank of Sioux City Iowa IA now owns 17,918 shares of the electronics maker's stock valued at $3,612,000 after acquiring an additional 3,765 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in TE Connectivity by 3.9% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 11,772 shares of the electronics maker's stock valued at $2,373,000 after buying an additional 446 shares during the period. Tidal Investments LLC raised its holdings in TE Connectivity by 13.9% during the second quarter. Tidal Investments LLC now owns 47,226 shares of the electronics maker's stock worth $9,521,000 after purchasing an additional 5,753 shares in the last quarter. National Pension Service lifted its position in TE Connectivity by 2.5% in the second quarter. National Pension Service now owns 1,102,295 shares of the electronics maker's stock worth $222,234,000 after purchasing an additional 27,088 shares during the period. Finally, Cidel Asset Management Inc. bought a new position in TE Connectivity during the 2nd quarter valued at $20,259,000. Institutional investors own 91.43% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Evercore reaffirmed an "in-line" rating and set a $230.00 target price on shares of TE Connectivity in a research note on Monday, June 22nd. Citigroup cut their price objective on TE Connectivity from $250.00 to $230.00 and set a "buy" rating for the company in a research report on Monday, July 13th. Weiss Ratings restated a "buy (b)" rating on shares of TE Connectivity in a report on Friday, July 24th. Wells Fargo & Company lifted their price target on TE Connectivity from $209.00 to $220.00 and gave the stock a "cautious" rating in a research note on Friday, September 11th. Finally, Barclays upped their price target on shares of TE Connectivity from $297.00 to $300.00 and gave the company an "overweight" rating in a research report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, TE Connectivity has an average rating of "Moderate Buy" and an average price target of $252.00.

TE Connectivity Stock Up 1.8%

Shares of TE Connectivity stock opened at $213.72 on Wednesday. The stock has a 50-day simple moving average of $207.38 and a 200-day simple moving average of $208.78. TE Connectivity Ltd. has a 52-week low of $190.27 and a 52-week high of $252.56. The firm has a market cap of $61.87 billion, a price-to-earnings ratio of 20.95, a P/E/G ratio of 1.41 and a beta of 1.16. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.88 and a quick ratio of 1.23.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The electronics maker reported $2.94 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.09. The firm had revenue of $5.16 billion for the quarter, compared to analyst estimates of $5.01 billion. TE Connectivity had a net margin of 15.61% and a return on equity of 24.59%. The company's revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.27 earnings per share. TE Connectivity has set its Q4 2026 guidance at 3.050-3.050 EPS. On average, equities research analysts expect that TE Connectivity Ltd. will post 11.48 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, December 11th. Stockholders of record on Friday, November 20th will be issued a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, November 20th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.5%. TE Connectivity's dividend payout ratio is currently 30.59%.

TE Connectivity Company Profile

TE Connectivity Ltd. NYSE: TEL designs and manufactures connectivity and sensor products used in transportation, industrial equipment, communications systems, data centers, aerospace and defense, medical technology, energy infrastructure, and consumer applications. Its products help transmit power, data and signals between components and systems.

The company's product portfolio includes connectors, terminals, relays, sensors, antennas, cable assemblies, circuit-protection devices, heat-shrink products and other components for electronic and electrical systems.

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.