TE Connectivity Ltd. $TEL Stock Sold by Ninety One North America Inc.

Key Points

• Ninety One North America reduced its TE Connectivity stake by 22.4% in the third quarter, selling 17,105 shares and retaining 59,169 shares valued at approximately $12.5 million. Institutional investors collectively own 91.43% of the company.
• Analyst sentiment remains positive overall, with an average rating of “Moderate Buy” and a consensus price target of $258.07, despite several firms lowering or maintaining their targets.
• TE Connectivity’s shares recently traded near $209.20, while its latest quarterly results exceeded expectations: earnings were $2.94 per share on $5.16 billion in revenue, up 13.8% year over year. The company also declared a $0.78 quarterly dividend, yielding about 1.5% annually.

Ninety One North America Inc. decreased its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 22.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,169 shares of the electronics maker's stock after selling 17,105 shares during the period. Ninety One North America Inc.'s holdings in TE Connectivity were worth $12,489,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in TE Connectivity by 5.7% during the 2nd quarter. State Street Corp now owns 13,639,381 shares of the electronics maker's stock valued at $2,750,079,000 after acquiring an additional 730,084 shares during the period. Wellington Management Group LLP boosted its stake in shares of TE Connectivity by 48.2% during the second quarter. Wellington Management Group LLP now owns 7,709,235 shares of the electronics maker's stock valued at $1,554,259,000 after purchasing an additional 2,507,569 shares during the period. Baird Financial Group Inc. grew its holdings in shares of TE Connectivity by 3.5% in the second quarter. Baird Financial Group Inc. now owns 3,237,914 shares of the electronics maker's stock worth $652,796,000 after purchasing an additional 109,020 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of TE Connectivity by 4.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,958,535 shares of the electronics maker's stock worth $618,121,000 after purchasing an additional 118,284 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of TE Connectivity by 7.0% in the fourth quarter. Janus Henderson Group PLC now owns 2,861,466 shares of the electronics maker's stock worth $651,247,000 after buying an additional 186,487 shares during the period. Institutional investors own 91.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TEL. Robert W. Baird raised their price target on shares of TE Connectivity from $225.00 to $250.00 and gave the stock an "outperform" rating in a report on Tuesday, October 6th. JPMorgan Chase & Co. decreased their price objective on shares of TE Connectivity from $260.00 to $235.00 and set a "neutral" rating on the stock in a research report on Thursday, July 16th. Wells Fargo & Company upped their price objective on shares of TE Connectivity from $209.00 to $220.00 and gave the company a "cautious" rating in a research note on Friday, September 11th. Wall Street Zen lowered shares of TE Connectivity from a "buy" rating to a "hold" rating in a report on Saturday, October 10th. Finally, HSBC dropped their target price on shares of TE Connectivity from $234.00 to $216.00 and set a "hold" rating for the company in a report on Thursday, July 23rd. Eleven analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $258.07.

TE Connectivity Stock Down 0.5%

Shares of NYSE TEL traded down $1.05 during mid-day trading on Thursday, hitting $209.20. 1,082,436 shares of the stock traded hands, compared to its average volume of 2,339,136. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.23 and a current ratio of 1.88. The stock has a fifty day moving average price of $210.41 and a 200-day moving average price of $210.24. The company has a market cap of $60.57 billion, a price-to-earnings ratio of 20.51, a PEG ratio of 1.27 and a beta of 1.14. TE Connectivity Ltd. has a 52 week low of $190.27 and a 52 week high of $252.56.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The electronics maker reported $2.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.85 by $0.09. TE Connectivity had a net margin of 15.61% and a return on equity of 24.59%. The company had revenue of $5.16 billion during the quarter, compared to analysts' expectations of $5.01 billion. During the same period last year, the company posted $2.27 EPS. TE Connectivity's revenue was up 13.8% on a year-over-year basis. TE Connectivity has set its Q4 2026 guidance at 3.050-3.050 EPS. Research analysts anticipate that TE Connectivity Ltd. will post 11.48 EPS for the current year.

TE Connectivity Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 20th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, November 20th. TE Connectivity's payout ratio is currently 30.59%.

TE Connectivity Profile

TE Connectivity Ltd. NYSE: TEL is a global technology and manufacturing company that designs and produces connectivity and sensor solutions. Its products include connectors, terminals, relays, sensors, switches, circuit-protection devices, antennas and related components used to transmit power, data and signals reliably in demanding environments.

The company serves customers across the automotive, commercial transportation, industrial, aerospace and defense, medical, energy, data communications and consumer-device markets.

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