Principal Financial Group Inc. Buys 5,593 Shares of TE Connectivity Ltd. $TEL

Principal Financial Group Inc. boosted its stake in TE Connectivity Ltd. (NYSE:TEL) by 1.7% in the first quarter, HoldingsChannel reports. The firm owned 342,596 shares of the electronics maker’s stock after acquiring an additional 5,593 shares during the period. Principal Financial Group Inc.’s holdings in TE Connectivity were worth $71,609,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Brighton Jones LLC purchased a new position in shares of TE Connectivity in the 4th quarter worth $820,000. Sivia Capital Partners LLC increased its position in shares of TE Connectivity by 66.7% during the 2nd 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 increased its holdings in TE Connectivity by 14.6% during the second quarter. Walleye Capital LLC now owns 2,688 shares of the electronics maker’s stock valued at $453,000 after buying an additional 343 shares during the last quarter. Squarepoint Ops LLC raised its holdings in TE Connectivity by 1,214.0% in the 2nd quarter. Squarepoint Ops LLC now owns 105,267 shares of the electronics maker’s stock worth $17,755,000 after purchasing an additional 97,256 shares during the period. Finally, Ieq Capital LLC raised its stake in shares of TE Connectivity by 75.0% in the second 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 period. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

TE Connectivity Trading Up 0.7%

TEL opened at $202.77 on Friday. The stock has a 50-day moving average of $205.92 and a 200 day moving average of $216.05. The company has a current ratio of 1.89, a quick ratio of 1.20 and a debt-to-equity ratio of 0.42. TE Connectivity Ltd. has a 12 month low of $175.28 and a 12 month high of $252.56. The firm has a market cap of $59.19 billion, a P/E ratio of 20.71, a P/E/G ratio of 1.41 and a beta of 1.17.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, April 22nd. The electronics maker reported $2.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.70 by $0.03. The business had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.72 billion. TE Connectivity had a return on equity of 23.56% and a net margin of 15.54%.The company’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.10 earnings per share. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. As a group, research analysts forecast that TE Connectivity Ltd. will post 11.31 EPS for the current year.

TE Connectivity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be paid 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 1.5%. TE Connectivity’s dividend payout ratio (DPR) is presently 31.87%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Barclays boosted their price target on TE Connectivity from $297.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, June 15th. Weiss Ratings raised shares of TE Connectivity from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, April 29th. Citigroup reduced their price objective on shares of TE Connectivity from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Monday. Zacks Research lowered shares of TE Connectivity from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Finally, Truist Financial cut their target price on shares of TE Connectivity from $244.00 to $240.00 and set a “hold” rating for the company in a research note on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, TE Connectivity currently has a consensus rating of “Moderate Buy” and an average target price of $255.31.

Insider Activity

In related news, insider Shadrak W. Kroeger sold 9,400 shares of the business’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 transaction, the insider owned 25,976 shares in the company, valued at $5,584,840. The trade was a 26.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.60% of the company’s stock.

TE Connectivity 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.