The Manufacturers Life Insurance Company Sells 10,350 Shares of TE Connectivity Ltd. $TEL

Key Points

• The Manufacturers Life Insurance Company reduced its TE Connectivity stake by 4.2%, selling 10,350 shares and retaining 233,816 shares valued at approximately $47.1 million. Institutional investors collectively own 91.43% of the company.
• Analysts maintain a generally positive outlook, with TE Connectivity receiving a “Moderate Buy” consensus rating and an average price target of $252.
• TE Connectivity exceeded quarterly expectations, reporting $2.94 in EPS versus the $2.85 estimate and $5.16 billion in revenue, up 13.8% year over year.

The Manufacturers Life Insurance Company trimmed its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 4.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 233,816 shares of the electronics maker's stock after selling 10,350 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.08% of TE Connectivity worth $47,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Sequoia Financial Advisors LLC grew its holdings in shares of TE Connectivity by 3.9% in the second quarter. Sequoia Financial Advisors LLC now owns 11,772 shares of the electronics maker's stock worth $2,373,000 after purchasing an additional 446 shares during the last quarter. Tidal Investments LLC raised its holdings in TE Connectivity by 13.9% during the 2nd quarter. Tidal Investments LLC now owns 47,226 shares of the electronics maker's stock valued at $9,521,000 after buying an additional 5,753 shares during the last quarter. National Pension Service boosted its position in TE Connectivity by 2.5% during the 2nd quarter. National Pension Service now owns 1,102,295 shares of the electronics maker's stock valued at $222,234,000 after buying an additional 27,088 shares during the period. Cidel Asset Management Inc. purchased a new stake in TE Connectivity during the 2nd quarter valued at $20,259,000. Finally, Integrated Wealth Concepts LLC grew its holdings in TE Connectivity by 19.4% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 5,707 shares of the electronics maker's stock worth $1,151,000 after acquiring an additional 926 shares during the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Evercore reaffirmed an "in-line" rating and set a $230.00 price objective on shares of TE Connectivity in a research note on Monday, June 22nd. Weiss Ratings restated a "buy (b)" rating on shares of TE Connectivity in a report on Friday, July 24th. Robert W. Baird lowered their price target on TE Connectivity from $240.00 to $225.00 and set an "outperform" rating for the company in a research report on Thursday, July 23rd. Citigroup dropped their price objective on TE Connectivity from $250.00 to $230.00 and set a "buy" rating for the company in a report on Monday, July 13th. Finally, UBS Group reiterated a "buy" rating and issued a $241.00 price objective on shares of TE Connectivity in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, TE Connectivity currently has an average rating of "Moderate Buy" and an average price target of $252.00.

TE Connectivity Stock Performance

TE Connectivity stock opened at $212.18 on Friday. TE Connectivity Ltd. has a fifty-two week low of $190.27 and a fifty-two week high of $252.56. The stock's 50 day simple moving average is $206.37 and its two-hundred day simple moving average is $209.86. 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 market cap of $61.43 billion, a price-to-earnings ratio of 20.80, a PEG ratio of 1.37 and a beta of 1.16.

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

TE Connectivity Company Profile

TE Connectivity Ltd. NYSE: TEL designs and manufactures connectivity and sensor products used in transportation, industrial equipment, communications systems, data centers, aerospace and defense, medical technology, energy infrastructure, and consumer applications. Its products help transmit power, data and signals between components and systems.

The company's product portfolio includes connectors, terminals, relays, sensors, antennas, cable assemblies, circuit-protection devices, heat-shrink products and other components for electronic and electrical systems.

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