Engineers Gate Manager LP increased its stake in TE Connectivity Ltd. (NYSE:TEL – Free Report) by 12.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,156 shares of the electronics maker’s stock after buying an additional 8,776 shares during the period. Engineers Gate Manager LP’s holdings in TE Connectivity were worth $18,464,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new position in TE Connectivity in the fourth quarter worth about $25,000. Caitlin John LLC bought a new position in TE Connectivity in the third quarter worth about $28,000. Aster Capital Management DIFC Ltd bought a new position in TE Connectivity in the third quarter worth about $29,000. Geneos Wealth Management Inc. raised its stake in TE Connectivity by 189.6% in the second quarter. Geneos Wealth Management Inc. now owns 194 shares of the electronics maker’s stock worth $33,000 after buying an additional 127 shares in the last quarter. Finally, Commonwealth Retirement Investments LLC bought a new position in TE Connectivity in the fourth quarter worth about $40,000. 91.43% of the stock is owned by institutional investors.
Insider Activity at TE Connectivity
In other news, insider Shadrak W. Kroeger sold 9,400 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $215.00, for a total transaction of $2,021,000.00. Following the sale, the insider owned 25,976 shares in the company, valued at $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 available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 28,200 shares of company stock worth $6,140,644 in the last 90 days. Corporate insiders own 0.60% of the company’s stock.
TE Connectivity Price Performance
TE Connectivity (NYSE:TEL – Get Free Report) last announced its earnings results on Wednesday, April 22nd. The electronics maker reported $2.73 earnings per share for the quarter, beating analysts’ consensus estimates of $2.70 by $0.03. TE Connectivity had a net margin of 15.54% and a return on equity of 23.56%. The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.72 billion. During the same quarter last year, the firm 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. Analysts expect that TE Connectivity Ltd. will post 11.28 EPS for the current fiscal year.
TE Connectivity announced that its board has approved a share buyback plan on Wednesday, March 11th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the electronics maker to reacquire up to 5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
TE Connectivity Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.5%. TE Connectivity’s dividend payout ratio (DPR) is currently 31.87%.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on TEL. Jefferies Financial Group raised shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 15th. Weiss Ratings raised shares of TE Connectivity from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, April 29th. Wells Fargo & Company increased their price target on shares of TE Connectivity from $214.00 to $226.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 23rd. Zacks Research downgraded shares of TE Connectivity from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Finally, Truist Financial decreased their target price on shares of TE Connectivity from $244.00 to $240.00 and set a “hold” rating for the company in a research note on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, TE Connectivity presently has an average rating of “Moderate Buy” and a consensus price target of $256.79.
Check Out Our Latest Report on TEL
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.
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