Verition Fund Management LLC Has $21.77 Million Stock Holdings in TE Connectivity Ltd. $TEL

Key Points

• Verition Fund Management boosted its TE Connectivity stake by 67.9% in the fourth quarter, ending with 95,688 shares valued at about $21.77 million.
• TE Connectivity reported better-than-expected quarterly earnings, with EPS of $2.73 versus estimates of $2.70 and revenue of $4.74 billion, up 14.4% year over year.
• The company continues to return cash to shareholders through a $0.78 quarterly dividend and a $3 billion share repurchase program, while analysts currently rate the stock a Moderate Buy with a consensus target price of $256.79.

Verition Fund Management LLC lifted its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 67.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 95,688 shares of the electronics maker's stock after purchasing an additional 38,690 shares during the period. Verition Fund Management LLC's holdings in TE Connectivity were worth $21,770,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TEL. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of TE Connectivity during the fourth quarter worth $25,000. Caitlin John LLC acquired a new stake in shares of TE Connectivity during the third quarter worth $28,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of TE Connectivity during the third quarter worth $29,000. Geneos Wealth Management Inc. raised its position in shares of TE Connectivity by 189.6% during the second quarter. Geneos Wealth Management Inc. now owns 194 shares of the electronics maker's stock worth $33,000 after purchasing an additional 127 shares during the period. Finally, Commonwealth Retirement Investments LLC acquired a new stake in shares of TE Connectivity during the fourth quarter worth $40,000. 91.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TEL has been the topic of a number of recent analyst reports. The Goldman Sachs Group set a $286.00 target price on TE Connectivity in a research report on Wednesday, April 22nd. Jefferies Financial Group raised TE Connectivity from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 15th. HSBC lowered TE Connectivity from a "buy" rating to a "hold" rating and set a $234.00 price target on the stock. in a research report on Thursday, April 23rd. Barclays upped their price target on TE Connectivity from $297.00 to $300.00 and gave the company an "overweight" rating in a research report on Monday. Finally, Wall Street Zen lowered TE Connectivity from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $256.79.

TE Connectivity Stock Performance

Shares of NYSE TEL opened at $215.88 on Tuesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.89 and a quick ratio of 1.20. TE Connectivity Ltd. has a one year low of $162.17 and a one year high of $252.56. The business's 50-day moving average price is $214.64 and its two-hundred day moving average price is $220.59. The company has a market capitalization of $63.02 billion, a P/E ratio of 22.05, a price-to-earnings-growth ratio of 1.49 and a beta of 1.16.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its 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 return on equity of 23.56% and a net margin of 15.54%.The company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.72 billion. During the same period in the prior year, the firm posted $2.10 EPS. The business's revenue was up 14.4% compared to the same quarter last year. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. Analysts anticipate that TE Connectivity Ltd. will post 11.28 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be issued a $0.78 dividend. The ex-dividend date is Friday, August 21st. This represents a $3.12 dividend on an annualized basis and a yield of 1.4%. TE Connectivity's dividend payout ratio is currently 31.87%.

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

Insider Buying and Selling

In related news, insider Shadrak W. Kroeger sold 9,400 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $215.00, for a total value of $2,021,000.00. Following the transaction, the insider owned 25,976 shares in the company, valued at approximately $5,584,840. This represents a 26.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 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.

TE Connectivity Company 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.

Want to see what other hedge funds are holding TEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TE Connectivity Ltd. (NYSE:TEL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.