Forsta AP Fonden cut its position in TE Connectivity Ltd. (NYSE:TEL – Free Report) by 55.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 61,700 shares of the electronics maker’s stock after selling 77,200 shares during the quarter. Forsta AP Fonden’s holdings in TE Connectivity were worth $14,037,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its stake in TE Connectivity by 11.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,231 shares of the electronics maker’s stock valued at $10,369,000 after buying an additional 4,813 shares during the last quarter. Principal Financial Group Inc. grew its stake in TE Connectivity by 7.0% in the 3rd quarter. Principal Financial Group Inc. now owns 336,394 shares of the electronics maker’s stock valued at $73,849,000 after buying an additional 21,882 shares during the last quarter. Caprock Group LLC acquired a new position in TE Connectivity in the 3rd quarter valued at $2,419,000. State of New Jersey Common Pension Fund D boosted its holdings in TE Connectivity by 7.0% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 103,287 shares of the electronics maker’s stock valued at $22,675,000 after purchasing an additional 6,755 shares during the period. Finally, Darwin Wealth Management LLC bought a new stake in TE Connectivity in the 4th quarter valued at $1,983,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at TE Connectivity
In other news, insider Shadrak W. Kroeger sold 9,400 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $215.00, for a total transaction of $2,021,000.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 28,200 shares of company stock worth $6,211,332. 0.60% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Check Out Our Latest Research Report on TEL
TE Connectivity Price Performance
NYSE:TEL opened at $213.24 on Friday. The company has a 50-day moving average of $212.91 and a 200-day moving average of $222.25. The company has a market capitalization of $62.24 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 1.51 and a beta of 1.18. TE Connectivity Ltd. has a 52 week low of $158.09 and a 52 week high of $252.56. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.20 and a current ratio of 1.89.
TE Connectivity (NYSE:TEL – Get Free Report) last released its quarterly earnings data 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 during 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%. The firm’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period last 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 research analysts anticipate that TE Connectivity Ltd. will post 11.28 earnings per share for the current fiscal year.
TE Connectivity declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the electronics maker to purchase up to 5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.
TE Connectivity Increases Dividend
The firm 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 represents a $3.12 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, May 22nd. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.71. TE Connectivity’s payout ratio is 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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