The Manufacturers Life Insurance Company Cuts Position in TE Connectivity Ltd. $TEL

The Manufacturers Life Insurance Company decreased its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 4.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 233,816 shares of the electronics maker’s stock after selling 10,350 shares during the period. The Manufacturers Life Insurance Company’s holdings in TE Connectivity were worth $47,140,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in TEL. Sequoia Financial Advisors LLC grew its stake in shares of TE Connectivity by 3.9% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 11,772 shares of the electronics maker’s stock worth $2,373,000 after buying an additional 446 shares during the last quarter. Tidal Investments LLC raised its stake in TE Connectivity by 13.9% during the second quarter. Tidal Investments LLC now owns 47,226 shares of the electronics maker’s stock valued at $9,521,000 after buying an additional 5,753 shares during the last quarter. National Pension Service boosted its holdings in TE Connectivity by 2.5% in the second quarter. National Pension Service now owns 1,102,295 shares of the electronics maker’s stock worth $222,234,000 after acquiring an additional 27,088 shares in the last quarter. Cidel Asset Management Inc. purchased a new stake in shares of TE Connectivity in the second quarter worth $20,259,000. Finally, Integrated Wealth Concepts LLC grew its stake in shares of TE Connectivity by 19.4% in the second quarter. Integrated Wealth Concepts LLC now owns 5,707 shares of the electronics maker’s stock worth $1,151,000 after acquiring an additional 926 shares during the last quarter. 91.43% of the stock is owned by institutional investors.

TE Connectivity Stock Up 3.7%

TEL opened at $212.18 on Friday. The stock has a market capitalization of $61.43 billion, a price-to-earnings ratio of 20.80, a PEG ratio of 1.37 and a beta of 1.16. The firm has a 50 day moving average price of $206.37 and a 200-day moving average price of $209.86. TE Connectivity Ltd. has a twelve month low of $190.27 and a twelve month 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) last issued its earnings results on Wednesday, July 22nd. The electronics maker reported $2.94 earnings per share (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 company had revenue of $5.16 billion for the quarter, compared to analysts’ expectations of $5.01 billion. During the same quarter last year, the company posted $2.27 earnings per share. 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. Equities research analysts forecast that TE Connectivity Ltd. will post 11.48 earnings per share for the current year.

Wall Street Analyst Weigh In

TEL has been the subject of several recent analyst reports. Robert W. Baird lowered their price target on TE Connectivity from $240.00 to $225.00 and set an “outperform” rating for the company in a research report on Thursday, July 23rd. Wells Fargo & Company raised their price objective on shares of TE Connectivity from $209.00 to $220.00 and gave the company a “cautious” rating in a research note on Friday. Evercore reiterated an “in-line” rating and issued a $230.00 target price on shares of TE Connectivity in a research note on Monday, June 22nd. Barclays increased their price target on shares of TE Connectivity from $297.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, June 15th. Finally, Wall Street Zen lowered shares of TE Connectivity from a “buy” rating to a “hold” rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, TE Connectivity has a consensus rating of “Moderate Buy” and a consensus price target of $252.00.

TE Connectivity Profile

TE Connectivity Ltd. (NYSE: TEL) designs and manufactures connectivity and sensor products used in transportation, industrial equipment, communications systems, data centers, aerospace and defense, medical technology, energy infrastructure, and consumer applications. Its products help transmit power, data and signals between components and systems.

The company’s product portfolio includes connectors, terminals, relays, sensors, antennas, cable assemblies, circuit-protection devices, heat-shrink products and other components for electronic and electrical systems.