TE Connectivity Ltd. $TEL Shares Sold by Royal Bank of Canada

Royal Bank of Canada trimmed its holdings in TE Connectivity Ltd. (NYSE:TEL) by 26.0% during the first quarter, Holdings Channel.com reports. The fund owned 633,732 shares of the electronics maker’s stock after selling 222,268 shares during the period. Royal Bank of Canada’s holdings in TE Connectivity were worth $132,463,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in TEL. Vanguard Group Inc. raised its position in TE Connectivity by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 38,421,283 shares of the electronics maker’s stock worth $8,741,226,000 after acquiring an additional 168,142 shares during the last quarter. State Street Corp increased its stake in shares of TE Connectivity by 0.6% during the 4th quarter. State Street Corp now owns 13,105,219 shares of the electronics maker’s stock worth $2,981,572,000 after purchasing an additional 76,292 shares in the last quarter. Geode Capital Management LLC raised its position in shares of TE Connectivity by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 6,284,933 shares of the electronics maker’s stock worth $1,425,669,000 after purchasing an additional 161,967 shares during the last quarter. Bank of America Corp DE raised its position in shares of TE Connectivity by 27.5% during the 2nd quarter. Bank of America Corp DE now owns 6,274,917 shares of the electronics maker’s stock worth $1,058,390,000 after purchasing an additional 1,352,152 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in TE Connectivity by 3.4% in the 4th quarter. Bank of New York Mellon Corp now owns 4,403,794 shares of the electronics maker’s stock valued at $1,001,907,000 after buying an additional 144,353 shares in the last quarter. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. The Goldman Sachs Group set a $286.00 price target on TE Connectivity in a research report on Wednesday, April 22nd. Zacks Research lowered TE Connectivity from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. HSBC cut TE Connectivity from a “buy” rating to a “hold” rating and set a $234.00 price objective for the company. in a research report on Thursday, April 23rd. Evercore reissued an “in-line” rating and issued a $230.00 target price on shares of TE Connectivity in a research note on Monday, June 22nd. Finally, UBS Group reaffirmed a “buy” rating and set a $241.00 price target on shares of TE Connectivity in a research note on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $251.15.

Insiders Place Their Bets

In related news, insider Shadrak W. Kroeger sold 9,400 shares of TE Connectivity stock in a transaction on Monday, June 1st. The stock was 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 trade represents a 26.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company’s stock.

TE Connectivity Price Performance

TEL opened at $206.84 on Friday. TE Connectivity Ltd. has a 1 year low of $190.27 and a 1 year high of $252.56. The company’s 50 day simple moving average is $206.05 and its 200 day simple moving average is $214.29. The stock has a market capitalization of $59.88 billion, a PE ratio of 20.28, a P/E/G ratio of 1.39 and a beta of 1.17. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.23 and a current ratio of 1.88.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, July 22nd. The electronics maker reported $2.94 EPS for the quarter, topping the consensus estimate of $2.85 by $0.09. The firm had revenue of $5.16 billion during the quarter, compared to analyst estimates of $5.01 billion. TE Connectivity had a net margin of 15.61% and a return on equity of 24.59%. TE Connectivity’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.27 earnings per share. TE Connectivity has set its Q4 2026 guidance at 3.050-3.050 EPS. As a group, sell-side analysts expect that TE Connectivity Ltd. will post 11.48 EPS for the current year.

TE Connectivity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, August 21st. TE Connectivity’s dividend payout ratio (DPR) is 30.59%.

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.