TE Connectivity Ltd. $TEL Stake Lessened by Cumberland Partners Ltd

Key Points

• Cumberland Partners Ltd cut its TE Connectivity stake by 46.3% in the first quarter, leaving it with 10,375 shares valued at about $2.17 million.
• TE Connectivity reported strong quarterly results, posting EPS of $2.94 versus estimates of $2.85 and revenue of $5.16 billion, helped by 13.8% year-over-year revenue growth.
• The company also announced a quarterly dividend of $0.78 per share, and analysts currently rate the stock Moderate Buy with a consensus price target of $251.15.

Cumberland Partners Ltd decreased its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 46.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,375 shares of the electronics maker's stock after selling 8,950 shares during the quarter. Cumberland Partners Ltd's holdings in TE Connectivity were worth $2,169,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Kohmann Bosshard Financial Services LLC purchased a new position in TE Connectivity during the 4th quarter valued at about $25,000. Geneos Wealth Management Inc. lifted its position in shares of TE Connectivity by 189.6% in the second quarter. Geneos Wealth Management Inc. now owns 194 shares of the electronics maker's stock worth $33,000 after purchasing an additional 127 shares in the last quarter. Commonwealth Retirement Investments LLC acquired a new stake in shares of TE Connectivity during the fourth quarter worth approximately $40,000. MV Capital Management Inc. purchased a new position in TE Connectivity during the fourth quarter valued at approximately $41,000. Finally, JFS Wealth Advisors LLC grew its position in TE Connectivity by 54.6% during the fourth quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker's stock valued at $42,000 after purchasing an additional 65 shares in the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other 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 transaction, the insider owned 25,976 shares of the company's stock, valued at $5,584,840. This trade represents a 26.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by company insiders.

TE Connectivity Trading Up 2.1%

TE Connectivity stock opened at $202.95 on Friday. TE Connectivity Ltd. has a one year low of $190.27 and a one year high of $252.56. The company's fifty day moving average price is $205.36 and its two-hundred day moving average price is $215.01. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.88 and a quick ratio of 1.20. The company has a market capitalization of $59.24 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 1.38 and a beta of 1.17.

TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The electronics maker reported $2.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.09. The company had revenue of $5.16 billion during the quarter, compared to the consensus estimate of $5.01 billion. TE Connectivity had a return on equity of 24.59% and a net margin of 15.61%.The firm's revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.27 EPS. TE Connectivity has set its Q4 2026 guidance at 3.050-3.050 EPS. On average, analysts forecast that TE Connectivity Ltd. will post 11.41 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be given a dividend of $0.78 per share. The ex-dividend date of this dividend 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 is presently 30.59%.

Analyst Ratings Changes

TEL has been the subject of a number of research analyst reports. Barclays increased their target price on shares of TE Connectivity from $297.00 to $300.00 and gave the stock an "overweight" rating in a research report on Monday, June 15th. Wall Street Zen upgraded TE Connectivity from a "hold" rating to a "buy" rating in a report on Monday, July 20th. Evercore reissued an "in-line" rating and set a $230.00 price objective on shares of TE Connectivity in a research report on Monday, June 22nd. HSBC lowered TE Connectivity from a "buy" rating to a "hold" rating and set a $234.00 target price on the stock. in a research report on Thursday, April 23rd. Finally, Weiss Ratings raised TE Connectivity from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $251.15.

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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