Meyer Handelman Co. Sells 3,000 Shares of TE Connectivity Ltd. $TEL

Meyer Handelman Co. trimmed its holdings in TE Connectivity Ltd. (NYSE:TEL) by 3.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 95,950 shares of the electronics maker’s stock after selling 3,000 shares during the period. Meyer Handelman Co.’s holdings in TE Connectivity were worth $20,055,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC acquired a new stake in TE Connectivity during the 4th quarter valued at $820,000. Sivia Capital Partners LLC increased its holdings in shares of TE Connectivity by 66.7% in the second quarter. Sivia Capital Partners LLC now owns 2,517 shares of the electronics maker’s stock valued at $425,000 after purchasing an additional 1,007 shares during the last quarter. Walleye Capital LLC raised its position in shares of TE Connectivity by 14.6% in the second quarter. Walleye Capital LLC now owns 2,688 shares of the electronics maker’s stock valued at $453,000 after purchasing an additional 343 shares during the period. Squarepoint Ops LLC lifted its stake in shares of TE Connectivity by 1,214.0% during the 2nd quarter. Squarepoint Ops LLC now owns 105,267 shares of the electronics maker’s stock worth $17,755,000 after buying an additional 97,256 shares during the last quarter. Finally, Ieq Capital LLC lifted its stake in shares of TE Connectivity by 75.0% during the 2nd quarter. Ieq Capital LLC now owns 23,284 shares of the electronics maker’s stock worth $3,927,000 after buying an additional 9,980 shares during the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Stock Performance

NYSE TEL opened at $200.01 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.89 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $58.38 billion, a P/E ratio of 20.43, a P/E/G ratio of 1.40 and a beta of 1.16. TE Connectivity Ltd. has a 12-month low of $166.58 and a 12-month high of $252.56. The firm has a 50-day moving average price of $212.59 and a two-hundred day moving average price of $219.53.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, April 22nd. The electronics maker reported $2.73 EPS 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 analysts’ expectations of $4.72 billion. During the same period last year, the firm earned $2.10 earnings per share. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. Analysts anticipate that TE Connectivity Ltd. will post 11.31 earnings per share for the current year.

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

TE Connectivity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be issued a $0.78 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $3.12 annualized dividend and a yield of 1.6%. TE Connectivity’s payout ratio is currently 31.87%.

Insiders Place Their Bets

In other news, insider Shadrak W. Kroeger sold 9,400 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $215.00, for a total transaction of $2,021,000.00. Following the completion of the sale, the insider directly owned 25,976 shares in the company, valued at approximately $5,584,840. This represents a 26.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 28,200 shares of company stock valued at $6,140,644. 0.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have weighed in on TEL. Jefferies Financial Group raised shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 15th. Truist Financial decreased their target price on TE Connectivity from $244.00 to $240.00 and set a “hold” rating on the stock in a research report on Thursday, April 23rd. Weiss Ratings upgraded TE Connectivity from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, April 29th. Evercore reissued an “in-line” rating and set a $230.00 price target on shares of TE Connectivity in a report on Monday. Finally, Zacks Research downgraded TE Connectivity from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, TE Connectivity currently has an average rating of “Moderate Buy” and an average price target of $254.93.

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.