Corebridge Financial Inc. Has $9.59 Million Stock Position in TE Connectivity Ltd. $TEL

Key Points

• Corebridge Financial Inc. reduced its stake in TE Connectivity by 3.3%, holding approximately 67,874 shares worth $9.59 million after selling 2,316 shares.
• TE Connectivity recently reported $2.27 EPS for the quarter, exceeding expectations and showing a 13.9% year-over-year revenue increase to $4.53 billion.
• The company declared a quarterly dividend of $0.71 per share, which reflects an annual yield of 1.4% with a payout ratio of 58.80%.

Corebridge Financial Inc. cut its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 67,874 shares of the electronics maker's stock after selling 2,316 shares during the quarter. Corebridge Financial Inc.'s holdings in TE Connectivity were worth $9,592,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of TEL. Martingale Asset Management L P raised its position in shares of 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 worth $255,000 after buying an additional 63 shares in the last quarter. Ballentine Partners LLC raised its position in shares of TE Connectivity by 1.4% during the 1st quarter. Ballentine Partners LLC now owns 4,975 shares of the electronics maker's stock worth $703,000 after buying an additional 68 shares in the last quarter. Vista Investment Management raised its position in shares of TE Connectivity by 0.5% during the 4th quarter. Vista Investment Management now owns 13,225 shares of the electronics maker's stock worth $1,891,000 after buying an additional 70 shares in the last quarter. Silvercrest Asset Management Group LLC raised its position in shares of 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 worth $534,000 after buying an additional 75 shares in the last quarter. Finally, Wedmont Private Capital raised its holdings in shares of TE Connectivity by 4.3% in the 1st quarter. Wedmont Private Capital now owns 1,944 shares of the electronics maker's stock worth $275,000 after purchasing an additional 80 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Stock Down 0.8%

TEL traded down $1.72 on Monday, reaching $206.33. 1,331,430 shares of the company traded hands, compared to its average volume of 1,604,158. The stock's 50 day moving average price is $190.65 and its 200-day moving average price is $163.80. TE Connectivity Ltd. has a 52-week low of $116.30 and a 52-week high of $212.76. The company has a market cap of $60.96 billion, a price-to-earnings ratio of 42.72, a PEG ratio of 2.45 and a beta of 1.23. 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 (NYSE:TEL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The electronics maker reported $2.27 EPS for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $4.30 billion. During the same period in the previous year, the firm posted $1.91 earnings per share. The firm's revenue was up 13.9% on a year-over-year basis. TE Connectivity has set its Q4 2025 guidance at 2.270-2.270 EPS. On average, sell-side analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Dividend Announcement

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

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, SVP Malavika Sagar sold 1,945 shares of TE Connectivity stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $207.20, for a total value of $403,004.00. Following the completion of the sale, the senior vice president directly owned 4,716 shares in the company, valued at $977,155.20. The trade was a 29.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Aaron Kyle Stucki sold 52,900 shares of TE Connectivity stock in a transaction that occurred 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 completion of the sale, the insider owned 23,667 shares of the company's stock, valued at $4,562,524.26. This trade represents a 69.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,795 shares of company stock worth $22,425,847 over the last ninety days. 0.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently commented on TEL shares. The Goldman Sachs Group reiterated a "buy" rating on shares of TE Connectivity in a report on Friday, July 11th. Wall Street Zen downgraded shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a report on Sunday. Citigroup boosted their target price on shares of TE Connectivity from $200.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Bank of America boosted their target price on shares of TE Connectivity from $168.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. Finally, UBS Group boosted their target price on shares of TE Connectivity from $185.00 to $201.00 and gave the stock a "buy" rating in a report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price 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.