TE Connectivity Ltd. $TEL Shares Sold by Hilltop Holdings Inc.

Key Points

• Hilltop Holdings cut its TE Connectivity stake by 76.2% in the first quarter, selling 4,987 shares and retaining 1,559 shares valued at approximately $326,000. Institutional investors and hedge funds collectively own 91.43% of the stock.
• TE Connectivity reported quarterly results above expectations, with EPS of $2.94 versus the $2.85 consensus and revenue of $5.16 billion, up 13.8% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $251.15.
• The company declared a quarterly dividend of $0.78 per share, equivalent to $3.12 annually and a 1.5% yield. Shares opened at $214.27, while an insider separately sold 9,400 shares for about $2.02 million under a Rule 10b5-1 plan.

Hilltop Holdings Inc. trimmed its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 76.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,559 shares of the electronics maker's stock after selling 4,987 shares during the period. Hilltop Holdings Inc.'s holdings in TE Connectivity were worth $326,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in TE Connectivity by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 38,421,283 shares of the electronics maker's stock valued at $8,741,226,000 after purchasing an additional 168,142 shares during the period. State Street Corp boosted its position in shares of TE Connectivity by 0.6% during the fourth quarter. State Street Corp now owns 13,105,219 shares of the electronics maker's stock worth $2,981,572,000 after buying an additional 76,292 shares during the period. Geode Capital Management LLC grew its stake in shares of TE Connectivity by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 6,284,933 shares of the electronics maker's stock valued at $1,425,669,000 after buying an additional 161,967 shares in the last quarter. Bank of America Corp DE grew its stake in shares of TE Connectivity by 27.5% in the second quarter. Bank of America Corp DE now owns 6,274,917 shares of the electronics maker's stock valued at $1,058,390,000 after buying an additional 1,352,152 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of TE Connectivity by 3.4% in the 4th quarter. Bank of New York Mellon Corp now owns 4,403,794 shares of the electronics maker's stock valued at $1,001,907,000 after buying an additional 144,353 shares during the period. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TEL. Truist Financial lowered their target price on TE Connectivity from $244.00 to $240.00 and set a "hold" rating for the company in a report on Thursday, April 23rd. The Goldman Sachs Group set a $286.00 price target on shares of TE Connectivity in a research note on Wednesday, April 22nd. Wells Fargo & Company reduced their price target on shares of TE Connectivity from $230.00 to $209.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 23rd. Wall Street Zen raised shares of TE Connectivity from a "hold" rating to a "buy" rating in a research note on Monday, July 20th. Finally, Barclays lifted their price objective on shares of TE Connectivity from $297.00 to $300.00 and gave the company an "overweight" rating in a report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $251.15.

Insider Transactions at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 9,400 shares of TE Connectivity stock in a transaction that occurred on 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 completion of the transaction, the insider owned 25,976 shares in the company, valued at $5,584,840. The trade was a 26.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by corporate insiders.

TE Connectivity Trading Up 3.2%

TEL opened at $214.27 on Wednesday. The business has a fifty day moving average price of $205.86 and a 200 day moving average price of $214.62. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.88 and a quick ratio of 1.23. TE Connectivity Ltd. has a 12 month low of $190.27 and a 12 month high of $252.56. The stock has a market capitalization of $62.03 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 1.39 and a beta of 1.17.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The electronics maker reported $2.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $5.01 billion. During the same quarter last year, the company earned $2.27 EPS. 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. Sell-side analysts expect that TE Connectivity Ltd. will post 11.48 earnings per share for the current fiscal year.

TE Connectivity Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Friday, August 21st. This represents a $3.12 annualized dividend and a yield of 1.5%. TE Connectivity's dividend payout ratio (DPR) is 30.59%.

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.

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