Wedge Capital Management L L P NC Purchases 82,396 Shares of TE Connectivity Ltd. $TEL

Wedge Capital Management L L P NC increased its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 30.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 349,262 shares of the electronics maker’s stock after acquiring an additional 82,396 shares during the period. TE Connectivity comprises approximately 1.2% of Wedge Capital Management L L P NC’s holdings, making the stock its 25th largest holding. Wedge Capital Management L L P NC’s holdings in TE Connectivity were worth $70,415,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Hsbc Holdings PLC grew its holdings in TE Connectivity by 11.1% during the 4th quarter. Hsbc Holdings PLC now owns 230,034 shares of the electronics maker’s stock worth $52,506,000 after acquiring an additional 23,074 shares during the last quarter. Man Group plc raised its stake in shares of TE Connectivity by 259.9% in the fourth quarter. Man Group plc now owns 1,252,434 shares of the electronics maker’s stock worth $284,941,000 after acquiring an additional 904,468 shares during the last quarter. Jefferies Financial Group Inc. lifted its position in shares of TE Connectivity by 575.9% during the fourth quarter. Jefferies Financial Group Inc. now owns 36,496 shares of the electronics maker’s stock worth $8,303,000 after purchasing an additional 31,096 shares in the last quarter. Swedbank AB grew its stake in shares of TE Connectivity by 8.1% during the fourth quarter. Swedbank AB now owns 84,831 shares of the electronics maker’s stock valued at $19,300,000 after purchasing an additional 6,385 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of TE Connectivity by 2,766.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 277,270 shares of the electronics maker’s stock valued at $63,082,000 after purchasing an additional 267,598 shares during the last quarter. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Performance

TEL stock opened at $218.73 on Wednesday. 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. The company has a market cap of $63.32 billion, a P/E ratio of 21.44, a price-to-earnings-growth ratio of 1.43 and a beta of 1.16. The business’s fifty day moving average is $206.80 and its 200-day moving average is $212.99.

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 analysts’ consensus estimates of $2.85 by $0.09. TE Connectivity had a return on equity of 24.59% and a net margin of 15.61%.The firm had revenue of $5.16 billion for the quarter, compared to analysts’ expectations of $5.01 billion. During the same quarter last year, the business earned $2.27 earnings per share. The company’s revenue was up 13.8% compared to the same quarter last year. 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 EPS for the current year.

TE Connectivity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, August 21st. TE Connectivity’s payout ratio is 30.59%.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 9,400 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $215.00, for a total transaction of $2,021,000.00. Following the completion of the transaction, the insider directly owned 25,976 shares of the company’s stock, valued at $5,584,840. This represents a 26.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on TEL shares. Wells Fargo & Company dropped their price objective on shares of TE Connectivity from $230.00 to $209.00 and set an “equal weight” rating for the company in a research report on Thursday, July 23rd. Zacks Research cut TE Connectivity from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Citigroup dropped their target price on TE Connectivity from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Monday, July 13th. HSBC lowered TE Connectivity from a “buy” rating to a “hold” rating and set a $234.00 price target on the stock. in a research note on Thursday, April 23rd. Finally, Truist Financial lowered their price objective on TE Connectivity from $244.00 to $240.00 and set a “hold” rating for the company in a research report on Thursday, April 23rd. 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.com, TE Connectivity currently has a consensus rating of “Moderate Buy” and a consensus price target of $251.15.

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.