Procyon Advisors LLC Sells 10,308 Shares of TE Connectivity Ltd. $TEL

Key Points

• Procyon Advisors LLC significantly reduced its stake in TE Connectivity Ltd. by 58.3%, now holding $1.24 million in shares after selling over 10,000 shares during the second quarter.
• Several institutional investors increased their holdings in TE Connectivity, with Harbor Capital Advisors Inc. boosting their position by 423% during the same period.
• TE Connectivity's recent earnings report showed a 13.9% increase in revenue year-over-year and an EPS of $2.27, surpassing analyst expectations of $2.08.

Procyon Advisors LLC lowered its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 58.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,363 shares of the electronics maker's stock after selling 10,308 shares during the quarter. Procyon Advisors LLC's holdings in TE Connectivity were worth $1,242,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Costello Asset Management INC bought a new stake in TE Connectivity in the first quarter valued at about $28,000. Millstone Evans Group LLC bought a new stake in TE Connectivity during the first quarter worth about $32,000. Kelly Lawrence W & Associates Inc. CA bought a new stake in TE Connectivity during the first quarter worth about $34,000. Ransom Advisory Ltd bought a new stake in TE Connectivity during the first quarter worth about $34,000. Finally, Dagco Inc. bought a new stake in TE Connectivity during the first quarter worth about $35,000. Institutional investors own 91.43% of the company's stock.

TE Connectivity Trading Down 0.5%

NYSE TEL traded down $1.19 during trading hours on Friday, hitting $216.12. The company's stock had a trading volume of 4,017,204 shares, compared to its average volume of 1,487,980. The stock has a fifty day moving average of $202.40 and a 200 day moving average of $169.57. TE Connectivity Ltd. has a twelve month low of $116.30 and a twelve month high of $218.76. The firm has a market capitalization of $63.86 billion, a P/E ratio of 44.75, a PEG ratio of 2.58 and a beta of 1.23. The company has a quick ratio of 0.96, a current ratio of 1.52 and a debt-to-equity ratio of 0.39.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The electronics maker reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.19. TE Connectivity had a net margin of 8.78% and a return on equity of 20.22%. The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period in the prior year, the business posted $1.91 earnings per share. TE Connectivity's revenue was up 13.9% compared to the same quarter last year. TE Connectivity has set its Q4 2025 guidance at 2.270-2.270 EPS. Equities research analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 21st will be issued a $0.71 dividend. The ex-dividend date is Friday, November 21st. This represents a $2.84 annualized dividend and a yield of 1.3%. TE Connectivity's dividend payout ratio (DPR) is 58.80%.

Insider Activity

In other TE Connectivity news, SVP Malavika Sagar sold 1,945 shares of the stock in a transaction 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 sale, the senior vice president directly owned 4,716 shares in the company, valued at approximately $977,155.20. This trade represents a 29.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP John S. Jenkins sold 45,850 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $209.33, for a total transaction of $9,597,780.50. Following the completion of the sale, the executive vice president owned 24,625 shares in the company, valued at approximately $5,154,751.25. This trade represents a 65.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 137,645 shares of company stock valued at $27,267,158. 0.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TEL has been the topic of several research analyst reports. Truist Financial upped their price objective on shares of TE Connectivity from $156.00 to $200.00 and gave the stock a "hold" rating in a research note on Thursday, July 24th. Wells Fargo & Company upped their price objective on shares of TE Connectivity from $170.00 to $198.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 24th. KGI Securities raised shares of TE Connectivity to a "hold" rating in a research note on Thursday, July 24th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of TE Connectivity in a research note on Friday, July 11th. Finally, Wall Street Zen lowered shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $199.55.

About TE Connectivity

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.