Sit Investment Associates Inc. cut its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 7.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 76,985 shares of the electronics maker's stock after selling 6,364 shares during the period. Sit Investment Associates Inc.'s holdings in TE Connectivity were worth $17,515,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in TEL. Norges Bank purchased a new stake in shares of TE Connectivity during the fourth quarter valued at $938,706,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of TE Connectivity by 26,798.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,383,932 shares of the electronics maker's stock valued at $303,815,000 after buying an additional 1,378,787 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of TE Connectivity by 27.5% during 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 during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of TE Connectivity by 183.6% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,530,414 shares of the electronics maker's stock valued at $348,184,000 after buying an additional 990,703 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its holdings in shares of TE Connectivity by 243.2% during the third quarter. Balyasny Asset Management L.P. now owns 1,359,191 shares of the electronics maker's stock valued at $298,383,000 after buying an additional 963,123 shares during the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.
TE Connectivity Stock Performance
NYSE:TEL opened at $207.62 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.20 and a current ratio of 1.89. The stock has a market capitalization of $60.60 billion, a P/E ratio of 21.21, a PEG ratio of 1.43 and a beta of 1.16. The company has a 50 day moving average price of $214.53 and a 200 day moving average price of $220.70. TE Connectivity Ltd. has a fifty-two week low of $162.17 and a fifty-two week high of $252.56.
TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The electronics maker reported $2.73 earnings per share for the quarter, topping analysts' consensus estimates of $2.70 by $0.03. TE Connectivity had a net margin of 15.54% and a return on equity of 23.56%. The firm had revenue of $4.74 billion during the quarter, compared to analysts' expectations of $4.72 billion. During the same quarter last year, the company posted $2.10 EPS. The firm'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 research analysts forecast that TE Connectivity Ltd. will post 11.28 EPS for the current year.
TE Connectivity Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be paid a $0.78 dividend. The ex-dividend date is Friday, August 21st. This represents a $3.12 dividend on an annualized basis and a yield of 1.5%. TE Connectivity's dividend payout ratio (DPR) is currently 31.87%.
TE Connectivity announced that its Board of Directors has approved a stock buyback program on Wednesday, March 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the electronics maker to purchase up to 5% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on the stock. Zacks Research downgraded shares of TE Connectivity from a "strong-buy" rating to a "hold" rating in a research report on Monday. Weiss Ratings upgraded shares of TE Connectivity from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, April 29th. Wells Fargo & Company upped their price target on shares of TE Connectivity from $214.00 to $226.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 23rd. Truist Financial reduced their price target on shares of TE Connectivity from $244.00 to $240.00 and set a "hold" rating for the company in a research report on Thursday, April 23rd. Finally, Jefferies Financial Group upgraded shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $256.57.
Check Out Our Latest Stock Analysis on TEL
Insiders Place Their Bets
In other TE Connectivity news, insider Shadrak W. Kroeger sold 9,400 shares of the firm's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $215.00, for a total value of $2,021,000.00. Following the sale, the insider directly owned 25,976 shares in the company, valued at $5,584,840. This trade represents a 26.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,200 shares of company stock valued at $6,140,644 in the last 90 days. 0.60% of the stock is owned by company insiders.
About TE Connectivity
(
Free Report)
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.
Further Reading
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