Varma Mutual Pension Insurance Co Has $18.91 Million Stock Holdings in TE Connectivity Ltd. $TEL

Key Points

• Varma Mutual Pension Insurance trimmed its stake in TE Connectivity by 13.1%, selling 12,510 shares and ending the quarter with 83,135 shares worth about $18.91 million.
• TE Connectivity authorized a $3.0 billion share repurchase (up to ~5% of shares) and raised its quarterly dividend to $0.78 (annualized $3.12, ~1.5% yield), signaling capital returns to shareholders.
• Company insiders sold a combined 42,345 shares over the past three months (about $9.63 million), with two executives each reducing their holdings by roughly 22%; insiders now own ~0.60% of the stock.

Varma Mutual Pension Insurance Co trimmed its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 13.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,135 shares of the electronics maker's stock after selling 12,510 shares during the period. Varma Mutual Pension Insurance Co's holdings in TE Connectivity were worth $18,914,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TEL. Principal Financial Group Inc. raised its holdings in TE Connectivity by 7.0% during the 3rd quarter. Principal Financial Group Inc. now owns 336,394 shares of the electronics maker's stock worth $73,849,000 after buying an additional 21,882 shares during the period. J. Safra Sarasin Holding AG raised its holdings in TE Connectivity by 132.5% during the 3rd quarter. J. Safra Sarasin Holding AG now owns 13,446 shares of the electronics maker's stock worth $2,952,000 after buying an additional 7,664 shares during the period. Nordea Investment Management AB raised its holdings in TE Connectivity by 3.5% during the 3rd quarter. Nordea Investment Management AB now owns 1,662,615 shares of the electronics maker's stock worth $363,215,000 after buying an additional 56,833 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in TE Connectivity by 11.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,231 shares of the electronics maker's stock worth $10,369,000 after buying an additional 4,813 shares during the period. Finally, Caprock Group LLC acquired a new stake in TE Connectivity during the 3rd quarter worth approximately $2,419,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at TE Connectivity

In related news, EVP John S. Jenkins sold 6,155 shares of the firm's stock in a transaction on Monday, February 9th. The shares were sold at an average price of $222.81, for a total value of $1,371,395.55. Following the completion of the transaction, the executive vice president directly owned 21,810 shares of the company's stock, valued at approximately $4,859,486.10. This trade represents a 22.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shadrak W. Kroeger sold 9,400 shares of the firm's stock in a transaction on Friday, February 13th. The shares were sold at an average price of $233.82, for a total transaction of $2,197,908.00. Following the completion of the transaction, the insider directly owned 32,541 shares of the company's stock, valued at $7,608,736.62. This represents a 22.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 42,345 shares of company stock valued at $9,627,260. 0.60% of the stock is owned by corporate insiders.

TE Connectivity Price Performance

Shares of TEL opened at $207.43 on Monday. The stock has a market capitalization of $60.55 billion, a P/E ratio of 21.19, a P/E/G ratio of 1.47 and a beta of 1.18. TE Connectivity Ltd. has a twelve month low of $147.75 and a twelve month high of $252.56. The company has a 50 day moving average of $215.86 and a 200-day moving average of $226.11. The company has a quick ratio of 1.20, a current ratio of 1.89 and a debt-to-equity ratio of 0.42.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The electronics maker reported $2.73 earnings per share for the quarter, topping the consensus estimate of $2.70 by $0.03. TE Connectivity had a net margin of 15.54% and a return on equity of 23.56%. The company had revenue of $4.74 billion during the quarter, compared to analysts' expectations of $4.72 billion. During the same period last year, the business earned $2.10 EPS. The business's quarterly revenue was up 14.4% on a year-over-year basis. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. As a group, equities research analysts forecast that TE Connectivity Ltd. will post 11.28 EPS for the current fiscal year.

TE Connectivity declared that its board has authorized a stock repurchase plan on Wednesday, March 11th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the electronics maker to repurchase up to 5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its shares are undervalued.

TE Connectivity Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 22nd will be paid a $0.78 dividend. This is a boost from TE Connectivity's previous quarterly dividend of $0.71. This represents a $3.12 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, May 22nd. TE Connectivity's dividend payout ratio (DPR) is 29.01%.

Analysts Set New Price Targets

Several brokerages have commented on TEL. UBS Group dropped their target price 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. Zacks Research upgraded shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a report on Monday, April 27th. Truist Financial dropped their target price on shares of TE Connectivity from $244.00 to $240.00 and set a "hold" rating on the stock in a report on Thursday, April 23rd. Weiss Ratings raised shares of TE Connectivity from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday. Finally, Jefferies Financial Group raised shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 15th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $256.57.

TE Connectivity 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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