SVB Wealth LLC Trims Stock Holdings in TE Connectivity Ltd. $TEL

SVB Wealth LLC decreased its position in TE Connectivity Ltd. (NYSE:TEL) by 50.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 6,482 shares of the electronics maker’s stock after selling 6,591 shares during the period. SVB Wealth LLC’s holdings in TE Connectivity were worth $1,475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the stock. J. Safra Sarasin Holding AG raised its holdings in TE Connectivity by 132.5% in the 3rd quarter. J. Safra Sarasin Holding AG now owns 13,446 shares of the electronics maker’s stock worth $2,952,000 after purchasing an additional 7,664 shares during the period. Principal Financial Group Inc. increased its stake in TE Connectivity by 7.0% during the 3rd quarter. Principal Financial Group Inc. now owns 336,394 shares of the electronics maker’s stock worth $73,849,000 after buying an additional 21,882 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in TE Connectivity by 11.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,231 shares of the electronics maker’s stock worth $10,369,000 after buying an additional 4,813 shares in the last quarter. Nordea Investment Management AB increased its stake in TE Connectivity by 3.5% during the 3rd quarter. Nordea Investment Management AB now owns 1,662,615 shares of the electronics maker’s stock worth $363,215,000 after buying an additional 56,833 shares in the last quarter. Finally, Caprock Group LLC purchased a new stake in TE Connectivity during the 3rd quarter worth approximately $2,419,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Trading Down 0.3%

Shares of TE Connectivity stock opened at $205.59 on Tuesday. The stock has a market cap of $60.01 billion, a P/E ratio of 21.00, a P/E/G ratio of 1.46 and a beta of 1.18. The stock’s 50 day simple moving average is $213.04 and its 200-day simple moving average is $225.54. TE Connectivity Ltd. has a 1-year low of $154.86 and a 1-year high of $252.56. 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 released its quarterly earnings data on Wednesday, April 22nd. The electronics maker reported $2.73 EPS for the quarter, beating analysts’ consensus estimates of $2.70 by $0.03. TE Connectivity had a return on equity of 23.56% and a net margin of 15.54%.The firm had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.72 billion. During the same period in the prior year, the firm posted $2.10 earnings per share. The firm’s quarterly revenue was up 14.4% on a year-over-year basis. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. Analysts predict that TE Connectivity Ltd. will post 11.28 EPS for the current fiscal year.

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

TE Connectivity Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 22nd will be paid a dividend of $0.78 per share. 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 currently 29.01%.

Insiders Place Their Bets

In other TE Connectivity news, SVP Reuben M. Shaffer sold 1,425 shares of the company’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $234.23, for a total transaction of $333,777.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Shadrak W. Kroeger sold 9,400 shares of the company’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $233.82, for a total value of $2,197,908.00. Following the transaction, the insider owned 32,541 shares in the company, valued at $7,608,736.62. This trade represents a 22.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 45,590 shares of company stock worth $10,276,864 over the last 90 days. 0.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Wall Street Zen lowered TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 2nd. UBS Group cut their price objective 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. Truist Financial cut their price objective 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. Weiss Ratings upgraded TE Connectivity from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, April 29th. Finally, Zacks Research upgraded TE Connectivity from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $256.57.

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.