TE Connectivity Ltd. $TEL Stake Raised by Paradiem LLC

Key Points

• Paradiem LLC increased its stake in TE Connectivity Ltd. by 3.1%, owning a total of 99,888 shares valued at approximately $16.85 million.
• Several hedge funds acquired new stakes in TE Connectivity, with institutional investors owning 91.43% of the company's stock.
• TE Connectivity announced a quarterly dividend of $0.71 per share, set to be paid on December 12th, 2023, with a yield of 1.3%.

Paradiem LLC increased its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 3.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,888 shares of the electronics maker's stock after buying an additional 3,007 shares during the period. TE Connectivity accounts for about 4.3% of Paradiem LLC's investment portfolio, making the stock its 4th biggest position. Paradiem LLC's holdings in TE Connectivity were worth $16,848,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Costello Asset Management INC purchased a new stake in shares of TE Connectivity in the first quarter worth about $28,000. Millstone Evans Group LLC purchased a new stake in shares of TE Connectivity in the first quarter worth about $32,000. Kelly Lawrence W & Associates Inc. CA purchased a new stake in shares of TE Connectivity in the first quarter worth about $34,000. Ransom Advisory Ltd purchased a new stake in shares of TE Connectivity in the first quarter worth about $34,000. Finally, Dagco Inc. purchased a new stake in shares of TE Connectivity in the first quarter worth about $35,000. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TEL. Wells Fargo & Company upped their price objective on TE Connectivity from $198.00 to $215.00 and gave the company an "equal weight" rating in a research report on Thursday, September 25th. Citigroup upped their price objective on TE Connectivity from $230.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, September 24th. KGI Securities upgraded TE Connectivity to a "hold" rating in a research report on Thursday, July 24th. Bank of America upped their price objective on TE Connectivity from $168.00 to $190.00 and gave the company a "buy" rating in a research report on Thursday, July 10th. Finally, JPMorgan Chase & Co. upped their price objective on TE Connectivity from $186.00 to $204.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $211.36.

Insider Transactions at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 23,850 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $202.99, for a total transaction of $4,841,311.50. Following the transaction, the insider directly owned 25,976 shares in the company, valued at $5,272,868.24. This trade represents a 47.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Malavika Sagar sold 1,945 shares of the firm's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $207.20, for a total value of $403,004.00. Following the transaction, the senior vice president owned 4,716 shares in the company, valued at $977,155.20. The trade was a 29.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 124,545 shares of company stock valued at $25,040,158. Company insiders own 0.90% of the company's stock.

TE Connectivity Trading Up 0.3%

Shares of NYSE TEL opened at $217.76 on Tuesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.96 and a current ratio of 1.52. The business's 50 day moving average price is $207.16 and its 200-day moving average price is $172.86. TE Connectivity Ltd. has a fifty-two week low of $116.30 and a fifty-two week high of $221.00. The company has a market cap of $64.34 billion, a price-to-earnings ratio of 45.09, a PEG ratio of 2.58 and a beta of 1.23.

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

TE Connectivity Announces Dividend

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

TE Connectivity Profile

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.

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