Sit Investment Associates Inc. lowered its stake in shares of TE Connectivity Ltd. (NYSE:TEL – Free Report) by 7.6% during 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 76,985 shares of the electronics maker’s stock after selling 6,364 shares during the quarter. Sit Investment Associates Inc.’s holdings in TE Connectivity were worth $17,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also added to or reduced their stakes in the company. Gulf International Bank UK Ltd boosted its holdings in shares of TE Connectivity by 0.3% in the 4th quarter. Gulf International Bank UK Ltd now owns 14,999 shares of the electronics maker’s stock valued at $3,412,000 after buying an additional 44 shares in the last quarter. MCF Advisors LLC raised its stake in shares of TE Connectivity by 14.1% during the 4th quarter. MCF Advisors LLC now owns 364 shares of the electronics maker’s stock worth $83,000 after acquiring an additional 45 shares in the last quarter. Webster Bank N. A. raised its stake in shares of TE Connectivity by 19.1% during the 4th quarter. Webster Bank N. A. now owns 287 shares of the electronics maker’s stock worth $65,000 after acquiring an additional 46 shares in the last quarter. CYBER HORNET ETFs LLC lifted its position in 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. lifted its position in 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 currently owned by institutional investors.
Insider Buying and Selling
In other TE Connectivity news, insider Shadrak W. Kroeger sold 9,400 shares of the company’s 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 28,200 shares of company stock valued at $6,140,644 over the last 90 days. 0.60% of the stock is currently owned by corporate insiders.
TE Connectivity Stock Performance
TE Connectivity (NYSE:TEL – Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The electronics maker reported $2.73 EPS for the quarter, beating the consensus estimate of $2.70 by $0.03. The business had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.72 billion. TE Connectivity had a net margin of 15.54% and a return on equity of 23.56%. The business’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.10 EPS. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. On average, analysts anticipate that TE Connectivity Ltd. will post 11.28 EPS for the current year.
TE Connectivity announced that its Board of Directors has approved a share repurchase 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 buy up to 5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.
TE Connectivity Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors 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 dividend on an annualized basis and a yield of 1.4%. TE Connectivity’s payout ratio is currently 31.87%.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on the stock. Barclays lifted their price target on shares of TE Connectivity from $297.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday. Zacks Research lowered TE Connectivity from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. HSBC cut TE Connectivity from a “buy” rating to a “hold” rating and set a $234.00 price objective for the company. in a research report on Thursday, April 23rd. Wells Fargo & Company upped their target price on TE Connectivity from $214.00 to $226.00 and gave the company an “equal weight” rating in a research report on Thursday, April 23rd. Finally, 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 note on Thursday, April 23rd. One 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $256.79.
Check Out Our Latest Stock Report on TE Connectivity
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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