VIRGINIA RETIREMENT SYSTEMS ET Al Purchases 104,300 Shares of TE Connectivity Ltd. $TEL

Key Points

• Virginia Retirement Systems nearly doubled its stake in TE Connectivity during the fourth quarter, buying an additional 104,300 shares and bringing its total holdings to 209,100 shares worth about $47.6 million.
• TE Connectivity recently posted better-than-expected quarterly results, with EPS of $2.73 beating estimates and revenue rising 14.4% year over year to $4.74 billion.
• The company also announced a higher quarterly dividend of $0.78 per share and maintains a $3 billion share buyback program, while analysts currently rate the stock as a Moderate Buy on average.

VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 99.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 209,100 shares of the electronics maker's stock after buying an additional 104,300 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.07% of TE Connectivity worth $47,572,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TEL. Arrowstreet Capital Limited Partnership lifted its position in shares of TE Connectivity by 26,798.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,383,932 shares of the electronics maker's stock valued at $303,815,000 after buying an additional 1,378,787 shares in the last quarter. Bank of America Corp DE lifted its position in shares of TE Connectivity by 27.5% during the 2nd quarter. Bank of America Corp DE now owns 6,274,917 shares of the electronics maker's stock valued at $1,058,390,000 after buying an additional 1,352,152 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of TE Connectivity by 183.6% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,530,414 shares of the electronics maker's stock valued at $348,184,000 after buying an additional 990,703 shares in the last quarter. Balyasny Asset Management L.P. lifted its position in shares of TE Connectivity by 243.2% during the 3rd quarter. Balyasny Asset Management L.P. now owns 1,359,191 shares of the electronics maker's stock valued at $298,383,000 after buying an additional 963,123 shares in the last quarter. Finally, Capital International Investors lifted its position in shares of TE Connectivity by 44.4% during the 3rd quarter. Capital International Investors now owns 2,626,754 shares of the electronics maker's stock valued at $576,384,000 after buying an additional 807,702 shares in the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on TEL shares. Wall Street Zen cut TE Connectivity from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 2nd. Truist Financial lowered their price objective on TE Connectivity from $244.00 to $240.00 and set a "hold" rating on the stock in a research report on Thursday, April 23rd. Wells Fargo & Company boosted their price target on TE Connectivity from $214.00 to $226.00 and gave the stock an "equal weight" rating in a report on Thursday, April 23rd. Zacks Research raised TE Connectivity from a "hold" rating to a "strong-buy" rating in a report on Monday, April 27th. Finally, HSBC cut TE Connectivity from a "buy" rating to a "hold" rating and set a $234.00 price target on the stock. in a report on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $256.57.

TE Connectivity Stock Up 3.7%

Shares of TEL opened at $213.74 on Wednesday. The stock has a market capitalization of $62.39 billion, a price-to-earnings ratio of 21.83, a price-to-earnings-growth ratio of 1.46 and a beta of 1.18. TE Connectivity Ltd. has a 1 year low of $155.37 and a 1 year high of $252.56. The business's 50 day simple moving average is $212.72 and its 200-day simple moving average is $225.44. 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 (NYSE:TEL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The electronics maker reported $2.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.03. The business had revenue of $4.74 billion for the quarter, compared to analysts' expectations of $4.72 billion. TE Connectivity had a return on equity of 23.56% and a net margin of 15.54%.The company's revenue for the quarter was up 14.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.10 EPS. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. As a group, equities analysts expect that TE Connectivity Ltd. will post 11.28 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 22nd will be issued a dividend of $0.78 per share. This is a positive change from TE Connectivity's previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $3.12 annualized dividend and a dividend yield of 1.5%. TE Connectivity's payout ratio is currently 29.01%.

TE Connectivity declared that its Board of Directors has approved a stock buyback plan on Wednesday, March 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the electronics maker to buy up to 5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Insider Activity at TE Connectivity

In other news, SVP Reuben M. Shaffer sold 1,425 shares of the business's stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $234.23, for a total transaction of $333,777.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Shadrak W. Kroeger sold 9,400 shares of the business's stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $233.82, for a total value of $2,197,908.00. Following the transaction, the insider directly owned 32,541 shares in the company, valued at approximately $7,608,736.62. This represents a 22.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 45,590 shares of company stock worth $10,276,864. Corporate insiders own 0.60% of the company's stock.

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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