HITE Hedge Asset Management LLC Decreases Holdings in TE Connectivity Ltd. $TEL

HITE Hedge Asset Management LLC trimmed its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 67.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,874 shares of the electronics maker’s stock after selling 24,526 shares during the period. HITE Hedge Asset Management LLC’s holdings in TE Connectivity were worth $2,607,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Caitlin John LLC bought a new stake in TE Connectivity in the third quarter worth about $28,000. Aster Capital Management DIFC Ltd bought a new position in shares of TE Connectivity during the 3rd quarter valued at approximately $29,000. Neo Ivy Capital Management bought a new position in shares of TE Connectivity during the 2nd quarter valued at approximately $30,000. Caldwell Trust Co purchased a new stake in shares of TE Connectivity during the 2nd quarter worth approximately $31,000. Finally, Geneos Wealth Management Inc. raised its holdings in shares of TE Connectivity by 189.6% in the 2nd quarter. Geneos Wealth Management Inc. now owns 194 shares of the electronics maker’s stock worth $33,000 after purchasing an additional 127 shares during the period. Institutional investors own 91.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Truist Financial upped their price objective on TE Connectivity from $240.00 to $244.00 and gave the company a “hold” rating in a research note on Thursday, January 22nd. Zacks Research upgraded TE Connectivity from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 28th. Barclays upped their price target on TE Connectivity from $297.00 to $302.00 and gave the company an “overweight” rating in a research report on Friday, January 23rd. TD Cowen reiterated a “buy” rating on shares of TE Connectivity in a research note on Monday, November 17th. Finally, Oppenheimer lifted their price objective on TE Connectivity from $270.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $251.93.

TE Connectivity Stock Down 3.7%

TEL stock opened at $197.63 on Friday. The stock has a 50-day simple moving average of $226.21 and a two-hundred day simple moving average of $225.73. TE Connectivity Ltd. has a twelve month low of $116.30 and a twelve month high of $250.67. The firm has a market capitalization of $57.99 billion, a PE ratio of 28.52, a PEG ratio of 1.56 and a beta of 1.23. The company has a quick ratio of 1.07, a current ratio of 1.65 and a debt-to-equity ratio of 0.37.

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

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 issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, May 22nd. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.71. TE Connectivity’s payout ratio is 40.98%.

TE Connectivity announced that its Board of Directors has initiated a share buyback plan on Wednesday, March 11th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the electronics maker to reacquire up to 5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at TE Connectivity

In related news, EVP John S. Jenkins sold 6,155 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $222.81, for a total value of $1,371,395.55. Following the sale, the executive vice president owned 21,810 shares in the company, valued at approximately $4,859,486.10. This trade represents a 22.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Reuben M. Shaffer sold 1,425 shares of TE Connectivity stock in a transaction on Friday, February 13th. The shares were sold at an average price of $234.23, for a total value of $333,777.75. The SEC filing for this sale provides additional information. Insiders sold a total of 32,945 shares of company stock valued at $7,528,616 in the last three months. Company insiders own 0.60% of the company’s stock.

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.