TE Connectivity Ltd. $TEL Shares Purchased by Wedge Capital Management L L P NC

Key Points

• Wedge Capital Management increased its TE Connectivity stake by 30.9% in the second quarter, adding 82,396 shares to own 349,262 shares valued at approximately $70.4 million. Institutional investors collectively hold 91.43% of the company.
• TE Connectivity reported quarterly earnings of $2.94 per share, beating estimates of $2.85, while revenue rose 13.8% year over year to $5.16 billion. Shares opened at $218.73, up 2.1%.
• The company declared a quarterly dividend of $0.78 per share, equal to a 1.4% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $251.15.

Wedge Capital Management L L P NC grew its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 30.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 349,262 shares of the electronics maker's stock after buying an additional 82,396 shares during the quarter. TE Connectivity comprises 1.2% of Wedge Capital Management L L P NC's holdings, making the stock its 25th biggest position. Wedge Capital Management L L P NC owned about 0.12% of TE Connectivity worth $70,415,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in TEL. Kohmann Bosshard Financial Services LLC bought a new stake in TE Connectivity during the fourth quarter worth approximately $25,000. Geneos Wealth Management Inc. raised its stake in shares of TE Connectivity by 189.6% in the 2nd quarter. Geneos Wealth Management Inc. now owns 194 shares of the electronics maker's stock worth $33,000 after buying an additional 127 shares in the last quarter. Commonwealth Retirement Investments LLC bought a new position in TE Connectivity during the fourth quarter valued at about $40,000. MV Capital Management Inc. bought a new position in shares of TE Connectivity in the fourth quarter valued at $41,000. Finally, Cornerstone Planning Group LLC lifted its stake in TE Connectivity by 118.2% during the fourth quarter. Cornerstone Planning Group LLC now owns 192 shares of the electronics maker's stock valued at $43,000 after buying an additional 104 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Stock Up 2.1%

TEL opened at $218.73 on Wednesday. TE Connectivity Ltd. has a fifty-two week low of $190.27 and a fifty-two week high of $252.56. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.88 and a quick ratio of 1.23. The business has a 50-day moving average of $206.80 and a 200-day moving average of $212.99. The company has a market capitalization of $63.32 billion, a PE ratio of 21.44, a price-to-earnings-growth ratio of 1.43 and a beta of 1.16.

TE Connectivity (NYSE:TEL - Get Free Report) last posted 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. TE Connectivity had a return on equity of 24.59% and a net margin of 15.61%.The company had revenue of $5.16 billion during the quarter, compared to analysts' expectations of $5.01 billion. During the same period in the prior year, the business earned $2.27 earnings per share. TE Connectivity's revenue for the quarter was up 13.8% compared to the same quarter last year. TE Connectivity has set its Q4 2026 guidance at 3.050-3.050 EPS. Equities research analysts forecast that TE Connectivity Ltd. will post 11.48 EPS for the current fiscal year.

TE Connectivity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, August 21st. TE Connectivity's payout ratio is 30.59%.

Insider Transactions at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 9,400 shares of the firm's 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 completion of the transaction, the insider owned 25,976 shares in the company, valued at $5,584,840. This trade represents 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 at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TEL. Jefferies Financial Group upgraded shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 15th. Wells Fargo & Company reduced their price target on shares of TE Connectivity from $230.00 to $209.00 and set an "equal weight" rating for the company in a research report on Thursday, July 23rd. Evercore reaffirmed an "in-line" rating and issued a $230.00 price objective on shares of TE Connectivity in a research note on Monday, June 22nd. Wall Street Zen upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating in a research report on Monday, July 20th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of TE Connectivity in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $251.15.

TE Connectivity Company Profile

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.

Want to see what other hedge funds are holding TEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TE Connectivity Ltd. (NYSE:TEL - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source