Norges Bank Acquires New Position in TE Connectivity Ltd. $TEL

Norges Bank acquired a new stake in shares of TE Connectivity Ltd. (NYSE:TEL) during the 4th quarter, Holdings Channel reports. The fund acquired 4,126,000 shares of the electronics maker’s stock, valued at approximately $938,706,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Webster Bank N. A. lifted its stake in shares of TE Connectivity by 19.1% during the fourth quarter. Webster Bank N. A. now owns 287 shares of the electronics maker’s stock valued at $65,000 after buying an additional 46 shares during the period. CYBER HORNET ETFs LLC increased its position in TE Connectivity by 5.6% during the fourth quarter. CYBER HORNET ETFs LLC now owns 887 shares of the electronics maker’s stock worth $202,000 after purchasing an additional 47 shares during the last quarter. Great Lakes Advisors LLC increased its position in TE Connectivity by 3.4% during the third quarter. Great Lakes Advisors LLC now owns 1,457 shares of the electronics maker’s stock worth $320,000 after purchasing an additional 48 shares during the last quarter. Harbour Investments Inc. increased its position in TE Connectivity by 4.2% during the fourth quarter. Harbour Investments Inc. now owns 1,193 shares of the electronics maker’s stock worth $271,000 after purchasing an additional 48 shares during the last quarter. Finally, Contravisory Investment Management Inc. increased its position in TE Connectivity by 1.6% during the fourth quarter. Contravisory Investment Management Inc. now owns 3,074 shares of the electronics maker’s stock worth $699,000 after purchasing an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TEL shares. Oppenheimer upped their price target on shares of TE Connectivity from $270.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. Truist Financial dropped their price target on shares of TE Connectivity from $244.00 to $240.00 and set a “hold” rating for the company in a research report on Thursday, April 23rd. Wall Street Zen lowered shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. The Goldman Sachs Group set a $286.00 price target on shares of TE Connectivity in a research report on Wednesday, April 22nd. Finally, Wells Fargo & Company upped their price target on shares of TE Connectivity from $214.00 to $226.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $256.57.

Insiders Place Their Bets

In related news, insider Shadrak W. Kroeger sold 9,400 shares of the firm’s stock in a transaction on Wednesday, May 6th. The shares were 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 of the company’s stock, valued at approximately $5,584,840. This trade represents a 26.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 28,200 shares of company stock worth $6,211,332. 0.60% of the stock is currently owned by company insiders.

TE Connectivity Price Performance

TE Connectivity stock opened at $213.24 on Friday. TE Connectivity Ltd. has a 52-week low of $158.09 and a 52-week high of $252.56. The firm has a fifty day moving average of $212.91 and a 200-day moving average of $222.25. The firm has a market capitalization of $62.24 billion, a P/E ratio of 21.78, a PEG ratio of 1.51 and a beta of 1.18. The company has a quick ratio of 1.20, a current ratio of 1.89 and a debt-to-equity ratio of 0.42.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, April 22nd. The electronics maker reported $2.73 earnings per share (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 during the quarter, compared to analyst estimates of $4.72 billion. During the same quarter in the prior year, the business earned $2.10 earnings per share. The business’s quarterly revenue was up 14.4% compared to the same quarter last year. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. As a group, analysts predict that TE Connectivity Ltd. will post 11.28 EPS for the current year.

TE Connectivity Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 22nd will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 1.5%. 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 dividend payout ratio (DPR) is 31.87%.

TE Connectivity announced that its board has authorized a share buyback plan on Wednesday, March 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the electronics maker to repurchase up to 5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

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.