Bank of New York Mellon Corp Grows Stock Position in TE Connectivity Ltd. $TEL

Bank of New York Mellon Corp lifted its holdings in TE Connectivity Ltd. (NYSE:TEL) by 3.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,403,794 shares of the electronics maker’s stock after buying an additional 144,353 shares during the period. Bank of New York Mellon Corp’s holdings in TE Connectivity were worth $1,001,907,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in TEL. Kohmann Bosshard Financial Services LLC purchased a new position in shares of TE Connectivity during the 4th quarter worth $25,000. Caitlin John LLC purchased a new stake in shares of TE Connectivity in the 3rd quarter worth $28,000. Aster Capital Management DIFC Ltd bought a new position in TE Connectivity in the 3rd quarter worth $29,000. Geneos Wealth Management Inc. lifted its position in TE Connectivity by 189.6% during the second quarter. Geneos Wealth Management Inc. now owns 194 shares of the electronics maker’s stock valued at $33,000 after purchasing an additional 127 shares in the last quarter. Finally, JFS Wealth Advisors LLC lifted its position in TE Connectivity by 54.6% during the fourth quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock valued at $42,000 after purchasing an additional 65 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Stock Up 1.6%

Shares of TEL opened at $214.57 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.89 and a quick ratio of 1.20. The stock has a market capitalization of $62.63 billion, a price-to-earnings ratio of 21.92, a price-to-earnings-growth ratio of 1.49 and a beta of 1.16. TE Connectivity Ltd. has a 1 year low of $159.41 and a 1 year high of $252.56. The business’s 50 day simple moving average is $213.18 and its 200-day simple moving average is $221.82.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, April 22nd. The electronics maker reported $2.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.03. The firm had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.72 billion. TE Connectivity had a net margin of 15.54% and a return on equity of 23.56%. The business’s revenue was up 14.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.10 EPS. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. As a group, equities analysts expect that TE Connectivity Ltd. will post 11.28 earnings per share for the current fiscal year.

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

TE Connectivity Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 22nd will be given a $0.78 dividend. 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. This represents a $3.12 annualized dividend and a yield of 1.5%. TE Connectivity’s dividend 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 dated Monday, June 1st. 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 directly owned 25,976 shares in the company, valued at approximately $5,584,840. This represents a 26.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 28,200 shares of company stock valued at $6,140,644 in the last 90 days. Company insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on TEL. The Goldman Sachs Group set a $286.00 price target on TE Connectivity in a research report on Wednesday, April 22nd. Weiss Ratings upgraded TE Connectivity from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, April 29th. 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 lowered their price target on shares of TE Connectivity from $244.00 to $240.00 and set a “hold” rating on the stock in a report on Thursday, April 23rd. Finally, Wells Fargo & Company increased their price objective on shares of TE Connectivity from $214.00 to $226.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, TE Connectivity presently has an average rating of “Moderate Buy” and a consensus price target of $256.57.

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.