TE Connectivity Ltd. $TEL Shares Sold by Swiss Life Asset Management Ltd

Key Points

• Swiss Life Asset Management cut its TE Connectivity stake by 20.5% in the fourth quarter, selling 17,247 shares and leaving it with 66,696 shares worth about $15.2 million.
• TE Connectivity reported better-than-expected quarterly results, with EPS of $2.73 versus $2.70 expected and revenue of $4.74 billion, up 14.4% year over year.
• The company raised its quarterly dividend to $0.78 per share from $0.71 and also authorized a $3 billion share buyback program.

Swiss Life Asset Management Ltd decreased its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 20.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 66,696 shares of the electronics maker's stock after selling 17,247 shares during the quarter. Swiss Life Asset Management Ltd's holdings in TE Connectivity were worth $15,174,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased 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 valued at $8,741,226,000 after acquiring an additional 168,142 shares during the last quarter. State Street Corp increased 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 valued at $2,860,244,000 after acquiring an additional 100,194 shares during the last quarter. Bank of America Corp DE increased 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 valued at $1,058,390,000 after acquiring an additional 1,352,152 shares during the last quarter. Bank of New York Mellon Corp increased 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 valued at $935,075,000 after acquiring an additional 122,994 shares during the last quarter. Finally, Invesco Ltd. increased 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 valued at $648,545,000 after acquiring an additional 292,154 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TEL. Barclays dropped their price objective on shares of TE Connectivity from $302.00 to $297.00 and set an "overweight" rating for the company in a research note on Thursday, April 23rd. Zacks Research raised shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 27th. 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. Jefferies Financial Group raised shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 15th. Finally, Truist Financial dropped their price objective on shares of TE Connectivity from $244.00 to $240.00 and set a "hold" rating for the company 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 issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $256.57.

Insider Buying and Selling

In other TE Connectivity news, SVP Reuben M. Shaffer sold 1,425 shares of the company's stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $234.23, for a total value of $333,777.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shadrak W. Kroeger sold 9,400 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the insider owned 25,976 shares of the company's stock, valued at approximately $5,584,840. This represents a 26.57% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 45,590 shares of company stock valued at $10,276,864. Corporate insiders own 0.60% of the company's stock.

TE Connectivity Stock Down 0.3%

TEL opened at $205.59 on Tuesday. The firm has a 50 day moving average price of $213.04 and a 200 day moving average price of $225.54. The company has a market cap of $60.01 billion, a PE ratio of 21.00, a price-to-earnings-growth ratio of 1.46 and a beta of 1.18. TE Connectivity Ltd. has a 1 year low of $154.86 and a 1 year high of $252.56. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.20 and a current ratio of 1.89.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The electronics maker reported $2.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.70 by $0.03. The firm had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.72 billion. TE Connectivity had a net margin of 15.54% and a return on equity of 23.56%. The company's revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.10 EPS. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. Sell-side analysts expect that TE Connectivity Ltd. will post 11.28 earnings per share for the current year.

TE Connectivity Increases Dividend

The firm 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 dividend of $0.78 per share. This is a boost 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 dividend on an annualized basis and a yield of 1.5%. TE Connectivity's dividend payout ratio is currently 29.01%.

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

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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