Panagora Asset Management Inc. Lowers Stake in TE Connectivity Ltd. $TEL

Panagora Asset Management Inc. reduced its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 15.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 224,224 shares of the electronics maker’s stock after selling 39,804 shares during the quarter. Panagora Asset Management Inc.’s holdings in TE Connectivity were worth $51,013,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Gulf International Bank UK Ltd lifted its stake in TE Connectivity by 0.3% in the fourth quarter. Gulf International Bank UK Ltd now owns 14,999 shares of the electronics maker’s stock worth $3,412,000 after acquiring an additional 44 shares during the period. MCF Advisors LLC raised its holdings in TE Connectivity by 14.1% in the fourth quarter. MCF Advisors LLC now owns 364 shares of the electronics maker’s stock worth $83,000 after purchasing an additional 45 shares in the last quarter. Webster Bank N. A. raised its holdings in TE Connectivity by 19.1% in the fourth quarter. Webster Bank N. A. now owns 287 shares of the electronics maker’s stock worth $65,000 after purchasing an additional 46 shares in the last quarter. CYBER HORNET ETFs LLC raised its holdings in TE Connectivity by 5.6% in the fourth quarter. CYBER HORNET ETFs LLC now owns 887 shares of the electronics maker’s stock worth $202,000 after purchasing an additional 47 shares in the last quarter. Finally, Harbour Investments Inc. increased its holdings in shares of TE Connectivity by 4.2% during the fourth quarter. Harbour Investments Inc. now owns 1,193 shares of the electronics maker’s stock valued at $271,000 after acquiring an additional 48 shares in the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $215.88 on Tuesday. TE Connectivity Ltd. has a twelve month low of $162.17 and a twelve month high of $252.56. The company’s 50 day moving average is $214.64 and its 200 day moving average is $220.59. The company has a current ratio of 1.89, a quick ratio of 1.20 and a debt-to-equity ratio of 0.42. The company has a market cap of $63.02 billion, a PE ratio of 22.05, a price-to-earnings-growth ratio of 1.49 and a beta of 1.16.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, April 22nd. The electronics maker reported $2.73 earnings per share for the quarter, topping the consensus estimate of $2.70 by $0.03. TE Connectivity had a net margin of 15.54% and a return on equity of 23.56%. The company had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.72 billion. During the same quarter in the prior year, the company earned $2.10 EPS. TE Connectivity’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. On average, sell-side analysts forecast that TE Connectivity Ltd. will post 11.28 EPS for the current year.

TE Connectivity announced that its board has approved a stock buyback program on Wednesday, March 11th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to reacquire up to 5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

TE Connectivity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, August 21st. TE Connectivity’s dividend payout ratio is 31.87%.

Insiders Place Their Bets

In related news, insider Shadrak W. Kroeger sold 9,400 shares of the stock in a transaction that occurred on 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 owned 25,976 shares in the company, valued at approximately $5,584,840. This represents a 26.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 28,200 shares of company stock valued at $6,140,644. 0.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on TEL. Zacks Research downgraded shares of TE Connectivity from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. UBS Group cut their price objective on shares of TE Connectivity from $272.00 to $261.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Wells Fargo & Company upped their price objective on shares of TE Connectivity from $214.00 to $226.00 and gave the company an “equal weight” rating in a report on Thursday, April 23rd. Weiss Ratings upgraded shares of TE Connectivity from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, April 29th. Finally, Barclays upped their price objective on shares of TE Connectivity from $297.00 to $300.00 and gave the company an “overweight” rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $256.79.

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.