NewEdge Advisors LLC lessened its holdings in TE Connectivity Ltd. (NYSE:TEL – Free Report) by 15.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 25,697 shares of the electronics maker’s stock after selling 4,800 shares during the quarter. NewEdge Advisors LLC’s holdings in TE Connectivity were worth $5,371,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of TEL. Keel Point LLC increased its position in shares of TE Connectivity by 12.1% in the first quarter. Keel Point LLC now owns 1,715 shares of the electronics maker’s stock valued at $358,000 after buying an additional 185 shares in the last quarter. Summitry LLC acquired a new stake in TE Connectivity in the 1st quarter valued at $24,284,000. Essential Partners LLC grew its stake in TE Connectivity by 63.7% in the 1st quarter. Essential Partners LLC now owns 334 shares of the electronics maker’s stock valued at $70,000 after acquiring an additional 130 shares during the period. BankChampaign National Association purchased a new stake in TE Connectivity in the 1st quarter worth $301,000. Finally, E20 Capital Ltd acquired a new position in TE Connectivity during the first quarter worth $25,645,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.
Insider Buying and Selling
In other TE Connectivity news, insider Shadrak W. Kroeger sold 9,400 shares of the business’s stock in a transaction dated 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 transaction, the insider directly owned 25,976 shares in the company, valued at $5,584,840. The trade was a 26.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 Stock Performance
TE Connectivity (NYSE:TEL – Get Free Report) last issued its earnings results on Wednesday, July 22nd. The electronics maker reported $2.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.09. TE Connectivity had a return on equity of 24.59% and a net margin of 15.61%.The company had revenue of $5.16 billion during the quarter, compared to analysts’ expectations of $5.01 billion. During the same period in the prior year, the business earned $2.27 EPS. The firm’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. On average, research analysts predict that TE Connectivity Ltd. will post 11.48 EPS for the current year.
TE Connectivity Announces Dividend
The company 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 yield of 1.4%. TE Connectivity’s payout ratio is 30.59%.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on the stock. Zacks Research lowered shares of TE Connectivity from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Wells Fargo & Company decreased their price target on shares of TE Connectivity from $230.00 to $209.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 23rd. Robert W. Baird lowered their price objective on TE Connectivity from $240.00 to $225.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. UBS Group reiterated a “buy” rating and set a $241.00 price objective on shares of TE Connectivity in a research note on Thursday, July 23rd. Finally, Barclays increased their target price on TE Connectivity from $297.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, TE Connectivity currently has a consensus rating of “Moderate Buy” and a consensus price target of $251.15.
Check Out Our Latest Stock Report on TE Connectivity
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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