Pzena Investment Management LLC Sells 1,077,685 Shares of TE Connectivity Ltd. $TEL

Pzena Investment Management LLC reduced its stake in TE Connectivity Ltd. (NYSE:TEL) by 57.0% during the 4th quarter, HoldingsChannel reports. The fund owned 811,891 shares of the electronics maker’s stock after selling 1,077,685 shares during the quarter. Pzena Investment Management LLC’s holdings in TE Connectivity were worth $184,713,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Meiji Yasuda Asset Management Co Ltd. lifted its position in TE Connectivity by 27.9% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,634 shares of the electronics maker’s stock valued at $599,000 after acquiring an additional 575 shares in the last quarter. Global Retirement Partners LLC lifted its position in TE Connectivity by 13.8% in the 4th quarter. Global Retirement Partners LLC now owns 4,402 shares of the electronics maker’s stock valued at $1,001,000 after acquiring an additional 534 shares in the last quarter. Pinkerton Wealth LLC bought a new stake in TE Connectivity in the 4th quarter valued at $2,558,000. Midwestern Financial LLC IA lifted its position in TE Connectivity by 3.2% in the 4th quarter. Midwestern Financial LLC IA now owns 2,193 shares of the electronics maker’s stock valued at $499,000 after acquiring an additional 69 shares in the last quarter. Finally, Banque Cantonale Vaudoise lifted its position in TE Connectivity by 484.7% in the 4th quarter. Banque Cantonale Vaudoise now owns 9,530 shares of the electronics maker’s stock valued at $2,169,000 after acquiring an additional 7,900 shares in the last quarter. 91.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Shadrak W. Kroeger sold 9,400 shares of the company’s stock in a transaction dated Wednesday, May 6th. 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 is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 28,200 shares of company stock valued at $6,211,332. 0.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TEL has been the topic of several research reports. Oppenheimer boosted their price objective 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. Barclays cut their price target on shares of TE Connectivity from $302.00 to $297.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. The Goldman Sachs Group set a $286.00 price target on shares of TE Connectivity in a research report on Wednesday, April 22nd. UBS Group cut their price target on shares of TE Connectivity from $272.00 to $261.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. Finally, Truist Financial cut their price target on shares of TE Connectivity from $244.00 to $240.00 and set a “hold” rating on the stock in a research report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $256.57.

TE Connectivity Stock Up 0.5%

Shares of TEL opened at $202.47 on Friday. TE Connectivity Ltd. has a 52 week low of $155.37 and a 52 week high of $252.56. The firm has a market cap of $59.10 billion, a P/E ratio of 20.68, a price-to-earnings-growth ratio of 1.43 and a beta of 1.18. The firm’s 50-day simple moving average is $212.09 and its 200 day simple moving average is $223.65. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.20 and a current ratio of 1.89.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results 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 net margin of 15.54% and a return on equity of 23.56%. The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.72 billion. During the same quarter in the prior year, the business 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, analysts forecast that TE Connectivity Ltd. will post 11.28 earnings per share for the current year.

TE Connectivity declared that its Board of Directors has initiated a share buyback program on Wednesday, March 11th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the electronics maker to buy up to 5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

TE Connectivity Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 22nd will be paid a $0.78 dividend. This is an increase from TE Connectivity’s previous quarterly dividend of $0.71. The ex-dividend date is Friday, May 22nd. This represents a $3.12 dividend on an annualized basis and a yield of 1.5%. TE Connectivity’s dividend payout ratio (DPR) is currently 29.01%.

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.