Legal & General Group Plc Cuts Stake in TE Connectivity Ltd. $TEL

Legal & General Group Plc cut its stake in TE Connectivity Ltd. (NYSE:TEL) by 5.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,626,800 shares of the electronics maker’s stock after selling 137,769 shares during the quarter. Legal & General Group Plc’s holdings in TE Connectivity were worth $597,623,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in TE Connectivity by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 38,421,283 shares of the electronics maker’s stock valued at $8,741,226,000 after purchasing an additional 168,142 shares during the period. State Street Corp raised its position in TE Connectivity by 0.8% in the third quarter. State Street Corp now owns 13,028,927 shares of the electronics maker’s stock valued at $2,860,244,000 after purchasing an additional 100,194 shares during the period. Bank of America Corp DE raised its position in TE Connectivity by 27.5% in 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 period. Bank of New York Mellon Corp raised its position in TE Connectivity by 3.0% in the third quarter. Bank of New York Mellon Corp now owns 4,259,441 shares of the electronics maker’s stock valued at $935,075,000 after purchasing an additional 122,994 shares during the period. Finally, Invesco Ltd. raised its position in TE Connectivity by 11.0% in the third quarter. Invesco Ltd. now owns 2,954,244 shares of the electronics maker’s stock valued at $648,545,000 after purchasing an additional 292,154 shares during the period. 91.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TEL has been the subject of several recent analyst reports. The Goldman Sachs Group set a $286.00 target price on TE Connectivity in a research note on Wednesday, April 22nd. Barclays lowered their target price on TE Connectivity from $302.00 to $297.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. Wells Fargo & Company raised their target price on TE Connectivity from $214.00 to $226.00 and gave the company an “equal weight” rating in a research note on Thursday, April 23rd. UBS Group lowered their target price on TE Connectivity from $272.00 to $261.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Finally, HSBC downgraded TE Connectivity from a “buy” rating to a “hold” rating and set a $234.00 target price for the company. in a research note on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $256.57.

Insider Buying and Selling

In related news, insider Shadrak W. Kroeger sold 9,400 shares of TE Connectivity stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $215.00, for a total value of $2,021,000.00. Following the completion of the transaction, the insider directly owned 25,976 shares in the company, valued at approximately $5,584,840. This trade 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 is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,200 shares of company stock valued at $6,211,332 in the last three months. 0.60% of the stock is currently owned by company insiders.

TE Connectivity Stock Up 0.0%

Shares of TE Connectivity stock opened at $202.83 on Tuesday. The company has a market capitalization of $59.21 billion, a PE ratio of 20.72, a P/E/G ratio of 1.44 and a beta of 1.18. TE Connectivity Ltd. has a 1-year low of $155.37 and a 1-year high of $252.56. The business has a 50-day moving average of $212.14 and a 200-day moving average of $223.05. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.89 and a quick ratio of 1.20.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, April 22nd. The electronics maker reported $2.73 EPS for the quarter, topping analysts’ consensus estimates of $2.70 by $0.03. The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.72 billion. TE Connectivity had a return on equity of 23.56% and a net margin of 15.54%.The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period last year, the firm earned $2.10 earnings per share. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. As a group, equities analysts forecast that TE Connectivity Ltd. will post 11.28 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 22nd will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 1.5%. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.71. The ex-dividend date is Friday, May 22nd. TE Connectivity’s payout ratio is 29.01%.

TE Connectivity declared that its board has approved a share buyback program on Wednesday, March 11th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the electronics maker to repurchase up to 5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

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.