TE Connectivity Ltd. $TEL Shares Sold by Forsta AP Fonden

Key Points

• Forsta AP Fonden cut its TE Connectivity stake by 55.6% in the fourth quarter, selling 77,200 shares and ending with 61,700 shares valued at about $14.0 million.
• TE Connectivity reported better-than-expected quarterly results, with EPS of $2.73 versus $2.70 estimated and revenue of $4.74 billion, up 14.4% year over year.
• The company also boosted its dividend to $0.78 per share and authorized a $3.0 billion share buyback, while analysts maintain a consensus rating of Moderate Buy with an average price target of $256.57.

Forsta AP Fonden cut its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 55.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,700 shares of the electronics maker's stock after selling 77,200 shares during the period. Forsta AP Fonden's holdings in TE Connectivity were worth $14,037,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in TEL. Brighton Jones LLC purchased a new stake in shares of TE Connectivity in the 4th quarter valued at approximately $820,000. Sivia Capital Partners LLC lifted its position in shares of TE Connectivity by 66.7% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,517 shares of the electronics maker's stock valued at $425,000 after acquiring an additional 1,007 shares in the last quarter. Walleye Capital LLC lifted its position in shares of TE Connectivity by 14.6% in the 2nd quarter. Walleye Capital LLC now owns 2,688 shares of the electronics maker's stock valued at $453,000 after acquiring an additional 343 shares in the last quarter. Squarepoint Ops LLC lifted its position in shares of TE Connectivity by 1,214.0% in the 2nd quarter. Squarepoint Ops LLC now owns 105,267 shares of the electronics maker's stock valued at $17,755,000 after acquiring an additional 97,256 shares in the last quarter. Finally, Ieq Capital LLC lifted its position in shares of TE Connectivity by 75.0% in the 2nd quarter. Ieq Capital LLC now owns 23,284 shares of the electronics maker's stock valued at $3,927,000 after acquiring an additional 9,980 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company's stock.

Insider Activity at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 9,400 shares of the stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $215.00, for a total transaction of $2,021,000.00. Following the transaction, the insider owned 25,976 shares in the company, valued at $5,584,840. This represents a 26.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 28,200 shares of company stock worth $6,211,332. Corporate insiders own 0.60% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on TEL. Oppenheimer upped their price objective on shares of TE Connectivity from $270.00 to $285.00 and gave the company an "outperform" rating in a research note on Friday, February 13th. The Goldman Sachs Group set a $286.00 price objective on shares of TE Connectivity in a research note on Wednesday, April 22nd. 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. HSBC lowered shares of TE Connectivity from a "buy" rating to a "hold" rating and set a $234.00 price objective on the stock. in a research note on Thursday, April 23rd. Finally, Barclays dropped their price objective on shares of TE Connectivity from $302.00 to $297.00 and set an "overweight" rating on the stock in a research note on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $256.57.

TE Connectivity Stock Performance

Shares of TEL opened at $213.24 on Friday. The company's fifty day moving average is $212.91 and its 200-day moving average is $222.25. TE Connectivity Ltd. has a 12 month low of $158.09 and a 12 month high of $252.56. The firm has a market cap of $62.24 billion, a price-to-earnings ratio of 21.78, a price-to-earnings-growth ratio of 1.51 and a beta of 1.18. The company has a quick ratio of 1.20, a current ratio of 1.89 and a debt-to-equity ratio of 0.42.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The electronics maker reported $2.73 EPS 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 quarter in the prior year, the business posted $2.10 EPS. TE Connectivity's quarterly revenue was up 14.4% on a year-over-year basis. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. Equities analysts expect that TE Connectivity Ltd. will post 11.28 EPS for the current fiscal year.

TE Connectivity declared that its Board of Directors has approved a stock buyback program on Wednesday, March 11th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the electronics maker to reacquire up to 5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

TE Connectivity Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 22nd will be paid a dividend of $0.78 per share. This is a positive change from TE Connectivity's previous quarterly dividend of $0.71. The ex-dividend date is Friday, May 22nd. This represents a $3.12 annualized dividend and a dividend yield of 1.5%. TE Connectivity's dividend payout ratio (DPR) is currently 31.87%.

About TE Connectivity

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.

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.