USS Investment Management Ltd Lowers Holdings in TE Connectivity Ltd. $TEL

Key Points

• USS Investment Management Ltd cut its stake in TE Connectivity by 16.7% in the first quarter, selling 11,480 shares and leaving it with 57,116 shares worth about $11.9 million.
• TE Connectivity reported better-than-expected quarterly results, posting EPS of $2.73 versus estimates of $2.70 and revenue of $4.74 billion versus $4.72 billion, with revenue up 14.4% year over year.
• The company also announced a $3 billion share repurchase program and declared a quarterly dividend of $0.78 per share, yielding about 1.5% annually.

USS Investment Management Ltd reduced its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 16.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,116 shares of the electronics maker's stock after selling 11,480 shares during the quarter. USS Investment Management Ltd's holdings in TE Connectivity were worth $11,936,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of TE Connectivity during the 4th quarter worth approximately $25,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of TE Connectivity during the 3rd quarter worth about $29,000. Commonwealth Retirement Investments LLC acquired a new stake in shares of TE Connectivity during the 4th quarter valued at about $40,000. MV Capital Management Inc. purchased a new position in shares of TE Connectivity in the 4th quarter valued at about $41,000. Finally, JFS Wealth Advisors LLC raised its holdings in TE Connectivity by 54.6% in the 4th quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker's stock worth $42,000 after purchasing an additional 65 shares during the period. 91.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Shadrak W. Kroeger sold 9,400 shares of the firm's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $215.00, for a total transaction of $2,021,000.00. Following the completion of the sale, the insider directly owned 25,976 shares of the company's stock, valued at approximately $5,584,840. This trade represents a 26.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,200 shares of company stock valued at $6,140,644 in the last 90 days. Corporate insiders own 0.60% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on TEL. Evercore reaffirmed an "in-line" rating and set a $230.00 target price on shares of TE Connectivity in a research note on Monday, June 22nd. Truist Financial dropped their price target on shares of TE Connectivity from $244.00 to $240.00 and set a "hold" rating on the stock in a research note on Thursday, April 23rd. Wall Street Zen lowered shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 2nd. UBS Group decreased their price objective on shares of TE Connectivity from $272.00 to $261.00 and set a "buy" rating on the stock in a report on Thursday, April 23rd. Finally, Weiss Ratings upgraded shares of TE Connectivity from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, TE Connectivity currently has a consensus rating of "Moderate Buy" and a consensus target price of $254.93.

TE Connectivity Price Performance

NYSE:TEL opened at $201.58 on Thursday. TE Connectivity Ltd. has a one year low of $169.50 and a one year high of $252.56. The stock has a market cap of $58.84 billion, a PE ratio of 20.59, a P/E/G ratio of 1.42 and a beta of 1.16. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.20 and a current ratio of 1.89. The stock has a 50 day moving average price of $209.30 and a 200 day moving average price of $218.42.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The electronics maker reported $2.73 EPS for the quarter, topping analysts' consensus estimates of $2.70 by $0.03. The company had revenue of $4.74 billion for 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%. TE Connectivity's quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.10 earnings per share. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. Equities research analysts expect that TE Connectivity Ltd. will post 11.31 EPS for the current fiscal year.

TE Connectivity announced that its Board of Directors has authorized a share repurchase plan on Wednesday, March 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the electronics maker to repurchase up to 5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.

TE Connectivity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, August 21st. TE Connectivity's payout ratio is presently 31.87%.

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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