HITE Hedge Asset Management LLC Sells 24,526 Shares of TE Connectivity Ltd. $TEL

HITE Hedge Asset Management LLC cut its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 67.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,874 shares of the electronics maker’s stock after selling 24,526 shares during the quarter. HITE Hedge Asset Management LLC’s holdings in TE Connectivity were worth $2,607,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Norges Bank bought a new position in shares of TE Connectivity in the 2nd quarter worth $609,158,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of TE Connectivity by 26,798.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,383,932 shares of the electronics maker’s stock worth $303,815,000 after acquiring an additional 1,378,787 shares during the last quarter. Bank of America Corp DE grew 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 worth $1,058,390,000 after acquiring an additional 1,352,152 shares in the last quarter. Dodge & Cox increased its stake in TE Connectivity by 6.3% in the second quarter. Dodge & Cox now owns 17,039,803 shares of the electronics maker’s stock valued at $2,874,104,000 after acquiring an additional 1,017,323 shares during the last quarter. Finally, Capital International Investors raised its position in TE Connectivity by 44.4% during the third quarter. Capital International Investors now owns 2,626,754 shares of the electronics maker’s stock valued at $576,384,000 after purchasing an additional 807,702 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Down 3.7%

TEL opened at $197.63 on Friday. TE Connectivity Ltd. has a 12 month low of $116.30 and a 12 month high of $250.67. The company has a current ratio of 1.65, a quick ratio of 1.07 and a debt-to-equity ratio of 0.37. The business’s 50-day moving average price is $226.21 and its 200-day moving average price is $225.73. The company has a market cap of $57.99 billion, a P/E ratio of 28.52, a P/E/G ratio of 1.56 and a beta of 1.23.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, January 21st. The electronics maker reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.17. TE Connectivity had a return on equity of 22.72% and a net margin of 11.41%.The company had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.52 billion. During the same period in the prior year, the business posted $1.95 EPS. TE Connectivity’s quarterly revenue was up 21.7% compared to the same quarter last year. TE Connectivity has set its Q2 2026 guidance at 2.650-2.650 EPS. On average, equities analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Stockholders 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 dividend yield of 1.6%. This is a boost from TE Connectivity’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Friday, May 22nd. TE Connectivity’s payout ratio is currently 40.98%.

TE Connectivity declared that its Board of Directors has approved a stock repurchase plan on Wednesday, March 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the electronics maker to purchase up to 5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TEL. UBS Group lifted their price target on TE Connectivity from $280.00 to $283.00 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. Barclays raised their price objective on TE Connectivity from $297.00 to $302.00 and gave the company an “overweight” rating in a report on Friday, January 23rd. The Goldman Sachs Group set a $306.00 target price on TE Connectivity in a research report on Wednesday, January 21st. Oppenheimer increased their price target on shares of TE Connectivity from $270.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. Finally, Zacks Research raised shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $251.93.

Insider Activity

In other news, insider Shadrak W. Kroeger sold 9,400 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $222.52, for a total value of $2,091,688.00. Following the transaction, the insider owned 25,976 shares in the company, valued at approximately $5,780,179.52. This trade represents a 26.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Reuben M. Shaffer sold 1,425 shares of TE Connectivity 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 32,945 shares of company stock valued at $7,528,616. 0.60% of the stock is currently owned by company insiders.

TE Connectivity Company 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.