TE Connectivity Ltd. $TEL Shares Sold by Balyasny Asset Management L.P.

Key Points

• Balyasny Asset Management cut its TE Connectivity stake by 58.7% in the fourth quarter, selling 798,074 shares and ending with 561,117 shares valued at about $127.7 million.
• Despite the selling by one fund, TE Connectivity remains heavily owned by institutions, with hedge funds and other institutional investors holding about 91.43% of the stock.
• The company reported better-than-expected quarterly results, with EPS of $2.73 and revenue of $4.74 billion, while analysts currently rate the stock a “Moderate Buy” with an average target price of $256.79.

Balyasny Asset Management L.P. lessened its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 58.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 561,117 shares of the electronics maker's stock after selling 798,074 shares during the quarter. Balyasny Asset Management L.P. owned approximately 0.19% of TE Connectivity worth $127,660,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in TE Connectivity by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 38,421,283 shares of the electronics maker's stock worth $8,741,226,000 after purchasing an additional 168,142 shares during the last quarter. State Street Corp boosted its stake in TE Connectivity by 0.6% during the 4th quarter. State Street Corp now owns 13,105,219 shares of the electronics maker's stock worth $2,981,572,000 after purchasing an additional 76,292 shares during the last quarter. Geode Capital Management LLC boosted its stake in TE Connectivity by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 6,284,933 shares of the electronics maker's stock worth $1,425,669,000 after purchasing an additional 161,967 shares during the last quarter. Bank of America Corp DE boosted its stake in TE Connectivity by 27.5% during the 2nd quarter. Bank of America Corp DE now owns 6,274,917 shares of the electronics maker's stock worth $1,058,390,000 after purchasing an additional 1,352,152 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in TE Connectivity by 3.4% during the 4th quarter. Bank of New York Mellon Corp now owns 4,403,794 shares of the electronics maker's stock worth $1,001,907,000 after purchasing an additional 144,353 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company's stock.

Wall Street Analysts Forecast Growth

TEL has been the topic of several recent research reports. UBS Group lowered their target price on shares of TE Connectivity from $272.00 to $261.00 and set a "buy" rating on the stock in a research note on Thursday, April 23rd. Zacks Research cut shares of TE Connectivity from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 8th. Wells Fargo & Company lifted their target price on shares of TE Connectivity from $214.00 to $226.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 23rd. HSBC cut shares of TE Connectivity from a "buy" rating to a "hold" rating and set a $234.00 price target on the stock. in a research report on Thursday, April 23rd. Finally, Wall Street Zen cut shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $256.79.

Insider Transactions at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 9,400 shares of the business's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $215.00, for a total value of $2,021,000.00. Following the sale, the insider directly owned 25,976 shares in the company, valued at approximately $5,584,840. The trade was a 26.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 28,200 shares of company stock valued at $6,140,644. 0.60% of the stock is currently owned by insiders.

TE Connectivity Trading Down 2.4%

Shares of TEL stock opened at $211.73 on Thursday. The company's 50-day moving average price is $214.83 and its 200-day moving average price is $220.44. The company has a current ratio of 1.89, a quick ratio of 1.20 and a debt-to-equity ratio of 0.42. The stock has a market cap of $61.80 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 1.54 and a beta of 1.16. TE Connectivity Ltd. has a twelve month low of $162.17 and a twelve month high of $252.56.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The electronics maker reported $2.73 earnings per share 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 net margin of 15.54% and a return on equity of 23.56%. The company's revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.10 EPS. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. As a group, equities analysts predict that TE Connectivity Ltd. will post 11.28 earnings per share for the current year.

TE Connectivity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 1.5%. The ex-dividend date is Friday, August 21st. TE Connectivity's payout ratio is 31.87%.

TE Connectivity announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 11th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to purchase up to 5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

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.

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