Handelsbanken Fonder AB bought a new position in shares of TE Connectivity Ltd. (NYSE:TEL – Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 193,421 shares of the electronics maker’s stock, valued at approximately $38,996,000.
Several other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of TE Connectivity during the 4th quarter valued at approximately $938,706,000. J. Stern & Co. LLP bought a new stake in TE Connectivity during the fourth quarter valued at $445,402,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of TE Connectivity by 124.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,105,167 shares of the electronics maker’s stock worth $706,457,000 after purchasing an additional 1,721,235 shares during the period. Bank of America Corp DE raised its holdings in shares of TE Connectivity by 27.5% during the second quarter. Bank of America Corp DE now owns 6,274,917 shares of the electronics maker’s stock worth $1,058,390,000 after purchasing an additional 1,352,152 shares during the period. Finally, Balyasny Asset Management L.P. lifted its position in shares of TE Connectivity by 243.2% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,359,191 shares of the electronics maker’s stock worth $298,383,000 after buying an additional 963,123 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on TEL shares. Barclays increased their price objective on shares of TE Connectivity from $297.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, June 15th. UBS Group restated a “buy” rating and issued a $241.00 target price on shares of TE Connectivity in a research note on Thursday, July 23rd. Jefferies Financial Group upgraded TE Connectivity from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 15th. Robert W. Baird cut their price target on TE Connectivity from $240.00 to $225.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. Finally, Wall Street Zen upgraded TE Connectivity from a “hold” rating to a “buy” rating in a research report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $251.15.
TE Connectivity Trading Up 2.1%
Shares of NYSE:TEL opened at $218.73 on Wednesday. The company has a market cap of $63.32 billion, a PE ratio of 21.44, a P/E/G ratio of 1.43 and a beta of 1.16. The company’s 50-day moving average price is $206.80 and its 200 day moving average price is $212.99. TE Connectivity Ltd. has a fifty-two week low of $190.27 and a fifty-two week high of $252.56. The company has a quick ratio of 1.23, a current ratio of 1.88 and a debt-to-equity ratio of 0.42.
TE Connectivity (NYSE:TEL – Get Free Report) last posted its earnings results on Wednesday, July 22nd. The electronics maker reported $2.94 EPS for the quarter, topping the consensus estimate of $2.85 by $0.09. TE Connectivity had a net margin of 15.61% and a return on equity of 24.59%. The firm had revenue of $5.16 billion during the quarter, compared to analysts’ expectations of $5.01 billion. During the same quarter in the prior year, the firm earned $2.27 EPS. TE Connectivity’s quarterly revenue was up 13.8% on a year-over-year basis. TE Connectivity has set its Q4 2026 guidance at 3.050-3.050 EPS. Sell-side analysts anticipate that TE Connectivity Ltd. will post 11.48 earnings per share for the current year.
TE Connectivity Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be given a dividend of $0.78 per share. The ex-dividend date is Friday, August 21st. This represents a $3.12 annualized dividend and a dividend yield of 1.4%. TE Connectivity’s payout ratio is currently 30.59%.
Insider Transactions at TE Connectivity
In related news, insider Shadrak W. Kroeger sold 9,400 shares of the firm’s stock in a transaction that occurred 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 sale, the insider directly owned 25,976 shares in the company, valued at $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 available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by company insiders.
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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