PNC Financial Services Group Inc. Sells 6,030 Shares of TE Connectivity Ltd. $TEL

PNC Financial Services Group Inc. lowered its stake in TE Connectivity Ltd. (NYSE:TEL) by 5.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,231 shares of the electronics maker’s stock after selling 6,030 shares during the period. PNC Financial Services Group Inc.’s holdings in TE Connectivity were worth $23,877,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Gulf International Bank UK Ltd boosted its holdings in shares of TE Connectivity by 0.3% in the 4th quarter. Gulf International Bank UK Ltd now owns 14,999 shares of the electronics maker’s stock worth $3,412,000 after purchasing an additional 44 shares during the period. MCF Advisors LLC raised its holdings in TE Connectivity by 14.1% during the 4th quarter. MCF Advisors LLC now owns 364 shares of the electronics maker’s stock valued at $83,000 after buying an additional 45 shares during the period. Webster Bank N. A. lifted its position in TE Connectivity by 19.1% in the fourth quarter. Webster Bank N. A. now owns 287 shares of the electronics maker’s stock worth $65,000 after buying an additional 46 shares during the last quarter. CYBER HORNET ETFs LLC boosted its stake 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 buying an additional 47 shares during the period. Finally, Harbour Investments Inc. boosted its stake 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 buying an additional 48 shares during the period. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TEL has been the topic of several recent analyst reports. Evercore reissued an “in-line” rating and issued a $230.00 target price on shares of TE Connectivity in a research note on Monday, June 22nd. Weiss Ratings raised shares of TE Connectivity from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, April 29th. Robert W. Baird cut their price target on shares of TE Connectivity from $240.00 to $225.00 and set an “outperform” rating on the stock in a report on Thursday. Barclays increased their price objective on shares of TE Connectivity from $297.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, June 15th. Finally, Citigroup dropped their target price on TE Connectivity from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, TE Connectivity has an average rating of “Moderate Buy” and an average price target of $251.15.

TE Connectivity Stock Up 2.1%

Shares of TEL opened at $202.95 on Friday. The firm has a fifty day moving average price of $205.36 and a 200-day moving average price of $215.01. The company has a current ratio of 1.88, a quick ratio of 1.20 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $59.24 billion, a P/E ratio of 19.90, a P/E/G ratio of 1.38 and a beta of 1.17. TE Connectivity Ltd. has a 12-month low of $190.27 and a 12-month high of $252.56.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, July 22nd. The electronics maker reported $2.94 EPS for the quarter, topping the consensus estimate of $2.85 by $0.09. TE Connectivity had a net margin of 15.61% and a return on equity of 24.59%. The company had revenue of $5.16 billion for the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter last year, the firm posted $2.27 EPS. The firm’s revenue was up 13.8% compared to the same quarter last year. TE Connectivity has set its Q4 2026 guidance at 3.050-3.050 EPS. Equities research analysts expect that TE Connectivity Ltd. will post 11.41 earnings per share for the current year.

TE Connectivity Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, August 21st. TE Connectivity’s payout ratio is currently 30.59%.

Insider Activity

In related news, insider Shadrak W. Kroeger sold 9,400 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $215.00, for a total value of $2,021,000.00. Following the transaction, the insider owned 25,976 shares of the company’s stock, valued at $5,584,840. This represents a 26.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company’s stock.

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.