TE Connectivity Ltd. $TEL Shares Sold by Legal & General Group Plc

Key Points

• Legal & General Group Plc reduced its TE Connectivity stake by 5.0% in the fourth quarter, selling 137,769 shares and leaving it with about 2.63 million shares valued at roughly $597.6 million.
• TE Connectivity reported better-than-expected quarterly results, posting EPS of $2.73 versus $2.70 expected and revenue of $4.74 billion versus $4.72 billion estimated, with revenue up 14.4% year over year.
• The company also announced a $3 billion share buyback and raised its quarterly dividend to $0.78 per share from $0.71, signaling confidence in its financial position.

Legal & General Group Plc lessened its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 5.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,626,800 shares of the electronics maker's stock after selling 137,769 shares during the quarter. Legal & General Group Plc owned about 0.90% of TE Connectivity worth $597,623,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of TEL. Vanguard Group Inc. lifted its stake in shares of 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 period. State Street Corp lifted its stake in shares of TE Connectivity by 0.8% during the 3rd quarter. State Street Corp now owns 13,028,927 shares of the electronics maker's stock worth $2,860,244,000 after purchasing an additional 100,194 shares during the period. Bank of America Corp DE lifted its stake in shares of 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 period. Bank of New York Mellon Corp lifted its stake in shares of TE Connectivity by 3.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,259,441 shares of the electronics maker's stock worth $935,075,000 after purchasing an additional 122,994 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of TE Connectivity by 11.0% during the 3rd quarter. Invesco Ltd. now owns 2,954,244 shares of the electronics maker's stock worth $648,545,000 after purchasing an additional 292,154 shares during the period. Institutional investors and hedge funds own 91.43% of the company's stock.

TE Connectivity Trading Up 0.0%

Shares of TEL opened at $202.83 on Tuesday. 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 firm has a market capitalization of $59.21 billion, a P/E ratio of 20.72, a price-to-earnings-growth ratio of 1.44 and a beta of 1.18. The stock's fifty day simple moving average is $212.14 and its 200 day simple moving average is $223.05. TE Connectivity Ltd. has a twelve month low of $155.37 and a twelve month high of $252.56.

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. The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.72 billion. TE Connectivity had a return on equity of 23.56% and a net margin of 15.54%.The business's quarterly revenue was up 14.4% on a year-over-year basis. During the same period last year, the company posted $2.10 EPS. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. On average, equities research analysts forecast that TE Connectivity Ltd. will post 11.28 earnings per share for the current year.

TE Connectivity declared that its board has approved 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 repurchase up to 5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

TE Connectivity Increases Dividend

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

Insider Buying and Selling at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 9,400 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $215.00, for a total value of $2,021,000.00. Following the transaction, the insider directly owned 25,976 shares of the company's stock, valued at approximately $5,584,840. This trade represents a 26.57% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 28,200 shares of company stock valued at $6,211,332. Company insiders own 0.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Oppenheimer increased their price target on TE Connectivity from $270.00 to $285.00 and gave the stock an "outperform" rating in a research note on Friday, February 13th. UBS Group reduced their price target on TE Connectivity from $272.00 to $261.00 and set a "buy" rating on the stock in a research note on Thursday, April 23rd. Barclays reduced their price target on TE Connectivity from $302.00 to $297.00 and set an "overweight" rating on the stock in a research note on Thursday, April 23rd. Wells Fargo & Company increased their price target on TE Connectivity from $214.00 to $226.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 23rd. Finally, Truist Financial reduced their price target on TE Connectivity from $244.00 to $240.00 and set a "hold" 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 assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, TE Connectivity presently has an average rating of "Moderate Buy" and an average price target of $256.57.

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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