TE Connectivity Ltd. $TEL Shares Sold by First Eagle Investment Management LLC

Key Points

• First Eagle Investment Management cut its TE Connectivity stake by 6.4% in the fourth quarter, selling 7,580 shares and leaving it with 111,336 shares valued at about $25.3 million.
• Analysts have turned more bullish on the stock, with recent upgrades from Jefferies and Zacks and a consensus rating of Moderate Buy; the average target price is $256.57.
• TE Connectivity reported better-than-expected quarterly earnings, raised its dividend to $0.78 per share, and authorized a $3 billion share repurchase plan.

First Eagle Investment Management LLC decreased its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 6.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 111,336 shares of the electronics maker's stock after selling 7,580 shares during the period. First Eagle Investment Management LLC's holdings in TE Connectivity were worth $25,330,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC acquired a new position in shares of TE Connectivity during the fourth quarter worth $25,000. Caitlin John LLC acquired a new position in shares of TE Connectivity during the third quarter worth $28,000. Aster Capital Management DIFC Ltd acquired a new position in shares of TE Connectivity during the third quarter worth $29,000. JFS Wealth Advisors LLC grew its stake in shares of TE Connectivity by 54.6% during the fourth quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker's stock worth $42,000 after purchasing an additional 65 shares in the last quarter. Finally, Westfuller Advisors LLC grew its stake in shares of TE Connectivity by 120.2% during the fourth quarter. Westfuller Advisors LLC now owns 185 shares of the electronics maker's stock worth $42,000 after purchasing an additional 101 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Jefferies Financial Group upgraded shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 15th. Zacks Research upgraded shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 27th. Weiss Ratings upgraded shares of TE Connectivity from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, April 29th. Oppenheimer boosted their target price on shares of TE Connectivity from $270.00 to $285.00 and gave the stock an "outperform" rating in a research note on Friday, February 13th. Finally, Barclays reduced their price target on shares of TE Connectivity from $302.00 to $297.00 and set an "overweight" rating for the company in a research report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, TE Connectivity currently has a consensus rating of "Moderate Buy" and an average target price of $256.57.

Insider Activity

In other news, insider Shadrak W. Kroeger sold 9,400 shares of the stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $233.82, for a total value of $2,197,908.00. Following the sale, the insider directly owned 32,541 shares in the company, valued at $7,608,736.62. This represents a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Reuben M. Shaffer sold 1,425 shares of the stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $234.23, for a total transaction of $333,777.75. The disclosure for this sale is available in the SEC filing. Insiders have sold 45,590 shares of company stock worth $10,276,864 over the last 90 days. 0.60% of the stock is currently owned by company insiders.

TE Connectivity Trading Down 0.3%

NYSE TEL opened at $205.59 on Tuesday. The company has a quick ratio of 1.20, a current ratio of 1.89 and a debt-to-equity ratio of 0.42. The firm has a 50-day moving average price of $213.04 and a 200 day moving average price of $225.54. TE Connectivity Ltd. has a 52-week low of $154.86 and a 52-week high of $252.56. The stock has a market capitalization of $60.01 billion, a P/E ratio of 21.00, a P/E/G ratio of 1.46 and a beta of 1.18.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The electronics maker reported $2.73 earnings per share for the quarter, topping the consensus estimate of $2.70 by $0.03. TE Connectivity had a net margin of 15.54% and a return on equity of 23.56%. The company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.72 billion. During the same period in the prior year, the business posted $2.10 earnings per share. The firm's revenue for the quarter was up 14.4% compared to the same quarter last year. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. Equities research analysts expect that TE Connectivity Ltd. will post 11.28 EPS for the current year.

TE Connectivity Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 22nd will be given a dividend of $0.78 per share. The ex-dividend date is Friday, May 22nd. This is an increase from TE Connectivity's previous quarterly dividend of $0.71. This represents a $3.12 annualized dividend and a yield of 1.5%. TE Connectivity's dividend payout ratio (DPR) is currently 29.01%.

TE Connectivity announced that its board has approved a stock repurchase plan on Wednesday, March 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the electronics maker to purchase up to 5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors 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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