Wellington Management Group LLP Grows Stake in TE Connectivity Ltd. $TEL

Key Points

• Wellington Management Group LLP increased its stake in TE Connectivity Ltd. by 17.2%, acquiring an additional 1,097,035 shares, bringing its total ownership to approximately $1.05 billion.
• TE Connectivity reported a quarterly earnings per share (EPS) of $2.27, surpassing analyst expectations of $2.08, with revenue increasing 13.9% year-over-year.
• The company declared a quarterly dividend of $0.71 per share, resulting in an annualized dividend yield of 1.4%.

Wellington Management Group LLP increased its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 17.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,459,195 shares of the electronics maker's stock after purchasing an additional 1,097,035 shares during the quarter. Wellington Management Group LLP owned 2.52% of TE Connectivity worth $1,054,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of TEL. Costello Asset Management INC purchased a new stake in TE Connectivity during the first quarter valued at $28,000. Millstone Evans Group LLC purchased a new stake in TE Connectivity during the first quarter valued at $32,000. Dagco Inc. purchased a new stake in TE Connectivity during the first quarter valued at $35,000. North Capital Inc. purchased a new stake in TE Connectivity during the first quarter valued at $46,000. Finally, Global X Japan Co. Ltd. purchased a new stake in TE Connectivity during the first quarter valued at $47,000. 91.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $159.03, for a total transaction of $3,975,750.00. Following the completion of the sale, the insider directly owned 25,976 shares of the company's stock, valued at approximately $4,130,963.28. This trade represents a 49.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John S. Jenkins sold 45,850 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $209.33, for a total value of $9,597,780.50. Following the sale, the executive vice president directly owned 24,625 shares of the company's stock, valued at $5,154,751.25. This represents a 65.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 138,795 shares of company stock valued at $26,401,597 over the last quarter. Company insiders own 0.90% of the company's stock.

TE Connectivity Price Performance

TE Connectivity stock traded up $4.5070 during midday trading on Friday, reaching $204.8070. 1,818,901 shares of the stock traded hands, compared to its average volume of 1,781,943. The stock's fifty day moving average is $186.36 and its 200-day moving average is $161.57. TE Connectivity Ltd. has a 12 month low of $116.30 and a 12 month high of $212.76. The stock has a market cap of $60.52 billion, a P/E ratio of 42.40, a PEG ratio of 2.38 and a beta of 1.23. The company has a quick ratio of 0.96, a current ratio of 1.52 and a debt-to-equity ratio of 0.39.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The electronics maker reported $2.27 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.19. The company had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.30 billion. TE Connectivity had a return on equity of 20.22% and a net margin of 8.78%.The firm's revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.91 earnings per share. TE Connectivity has set its Q4 2025 guidance at 2.270-2.270 EPS. As a group, equities research analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity's dividend payout ratio (DPR) is presently 58.80%.

Analysts Set New Price Targets

A number of research firms recently commented on TEL. UBS Group upped their price objective on TE Connectivity from $185.00 to $201.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Vertical Research upgraded TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price target for the company in a research report on Friday, April 25th. Citigroup upped their price target on TE Connectivity from $200.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Wall Street Zen upgraded TE Connectivity from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Finally, Wells Fargo & Company upped their price target on TE Connectivity from $170.00 to $198.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $197.55.

TE Connectivity Profile

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.