Clearbridge Investments LLC cut its stake in TE Connectivity Ltd. (NYSE:TEL – Free Report) by 12.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 4,566,738 shares of the electronics maker’s stock after selling 665,523 shares during the quarter. TE Connectivity comprises 0.8% of Clearbridge Investments LLC’s investment portfolio, making the stock its 20th largest position. Clearbridge Investments LLC’s holdings in TE Connectivity were worth $1,038,921,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of TEL. Gulf International Bank UK Ltd increased its position in shares of TE Connectivity by 0.3% during the fourth quarter. Gulf International Bank UK Ltd now owns 14,999 shares of the electronics maker’s stock valued at $3,412,000 after acquiring an additional 44 shares during the last quarter. MCF Advisors LLC increased its position in shares of TE Connectivity by 14.1% during the fourth quarter. MCF Advisors LLC now owns 364 shares of the electronics maker’s stock valued at $83,000 after acquiring an additional 45 shares during the last quarter. Webster Bank N. A. increased its position in shares of TE Connectivity by 19.1% during the fourth quarter. Webster Bank N. A. now owns 287 shares of the electronics maker’s stock valued at $65,000 after acquiring an additional 46 shares during the last quarter. CYBER HORNET ETFs LLC increased its position in shares of TE Connectivity by 5.6% during the fourth quarter. CYBER HORNET ETFs LLC now owns 887 shares of the electronics maker’s stock valued at $202,000 after acquiring an additional 47 shares during the last quarter. Finally, Harbour Investments Inc. increased its position in shares of TE Connectivity by 4.2% during the fourth quarter. Harbour Investments Inc. now owns 1,193 shares of the electronics maker’s stock valued at $271,000 after acquiring an additional 48 shares during the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
TEL has been the subject of a number of research analyst reports. Weiss Ratings raised TE Connectivity from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. HSBC downgraded TE Connectivity from a “buy” rating to a “hold” rating and set a $234.00 price target for the company. in a research report on Thursday, April 23rd. Truist Financial decreased their price target on TE Connectivity from $244.00 to $240.00 and set a “hold” rating for the company in a research report on Thursday, April 23rd. Wall Street Zen downgraded TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Zacks Research raised TE Connectivity from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $256.57.
Insider Activity at TE Connectivity
In other news, insider Shadrak W. Kroeger sold 9,400 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider directly owned 25,976 shares of the company’s stock, valued at $5,584,840. This trade represents a 26.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,200 shares of company stock valued at $6,140,644 over the last three months. 0.60% of the stock is owned by company insiders.
TE Connectivity Price Performance
TE Connectivity stock opened at $212.70 on Friday. TE Connectivity Ltd. has a one year low of $162.17 and a one year high of $252.56. The business has a fifty day moving average price of $214.26 and a 200-day moving average price of $221.29. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.89 and a quick ratio of 1.20. The firm has a market capitalization of $62.09 billion, a P/E ratio of 21.73, a PEG ratio of 1.51 and a beta of 1.16.
TE Connectivity (NYSE:TEL – Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The electronics maker reported $2.73 EPS for the quarter, topping analysts’ consensus estimates of $2.70 by $0.03. TE Connectivity had a return on equity of 23.56% and a net margin of 15.54%.The firm had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.72 billion. During the same period last year, the company earned $2.10 earnings per share. The business’s revenue for the quarter 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 year.
TE Connectivity Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 22nd will be issued a $0.78 dividend. The ex-dividend date of this dividend is Friday, May 22nd. This is an increase from TE Connectivity’s previous quarterly dividend of $0.71. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.5%. TE Connectivity’s dividend payout ratio is 31.87%.
TE Connectivity announced that its board has initiated a stock buyback plan on Wednesday, March 11th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the electronics maker to buy up to 5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
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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