Magnetar Financial LLC increased its stake in shares of TE Connectivity Ltd. (NYSE:TEL – Free Report) by 383.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 22,754 shares of the electronics maker’s stock after purchasing an additional 18,044 shares during the period. Magnetar Financial LLC’s holdings in TE Connectivity were worth $5,177,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Norges Bank bought a new position in TE Connectivity during the fourth quarter valued at $938,706,000. Arrowstreet Capital Limited Partnership lifted its position in 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 valued at $706,457,000 after purchasing an additional 1,721,235 shares during the last quarter. Bank of America Corp DE lifted its position in 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 valued at $1,058,390,000 after purchasing an additional 1,352,152 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in TE Connectivity by 183.6% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,530,414 shares of the electronics maker’s stock valued at $348,184,000 after purchasing an additional 990,703 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its position in TE Connectivity by 243.2% during the third quarter. Balyasny Asset Management L.P. now owns 1,359,191 shares of the electronics maker’s stock valued at $298,383,000 after purchasing an additional 963,123 shares during the last quarter. Institutional investors own 91.43% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have commented on TEL shares. Jefferies Financial Group upgraded shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 15th. UBS Group lowered their price objective on shares of TE Connectivity from $272.00 to $261.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. Zacks Research lowered shares of TE Connectivity from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Truist Financial lowered their price objective on shares of TE Connectivity from $244.00 to $240.00 and set a “hold” rating for the company in a research report on Thursday, April 23rd. Finally, Wells Fargo & Company increased their price objective on shares of TE Connectivity from $214.00 to $226.00 and gave the company an “equal weight” rating in a research report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $256.79.
Insider Buying and Selling at TE Connectivity
In other news, insider Shadrak W. Kroeger sold 9,400 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $215.00, for a total value of $2,021,000.00. Following the sale, the insider owned 25,976 shares of the company’s stock, valued at approximately $5,584,840. This represents a 26.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 valued at $6,140,644 over the last quarter. Corporate insiders own 0.60% of the company’s stock.
TE Connectivity Trading Up 0.5%
Shares of TEL opened at $217.19 on Wednesday. TE Connectivity Ltd. has a twelve month low of $162.17 and a twelve month high of $252.56. The company has a market cap of $63.40 billion, a P/E ratio of 22.18, a P/E/G ratio of 1.53 and a beta of 1.16. The company has a current ratio of 1.89, a quick ratio of 1.20 and a debt-to-equity ratio of 0.42. The company’s fifty day simple moving average is $214.80 and its 200-day simple moving average is $220.53.
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 the consensus estimate 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 for the quarter, compared to the consensus estimate of $4.72 billion. During the same quarter in the prior year, the firm posted $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, analysts expect that TE Connectivity Ltd. will post 11.28 EPS for the current year.
TE Connectivity Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be paid a $0.78 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $3.12 annualized dividend and a dividend yield of 1.4%. TE Connectivity’s dividend payout ratio is currently 31.87%.
TE Connectivity declared that its board has approved a stock buyback program on Wednesday, March 11th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to reacquire up to 5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
TE Connectivity 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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