California State Teachers Retirement System Purchases 92,012,142 Shares of TE Connectivity Ltd. $TEL

by · The Markets Daily

California State Teachers Retirement System raised its holdings in shares of TE Connectivity Ltd. (NYSE:TEL – Free Report) by 19,772.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 92,477,499 shares of the electronics maker’s stock after purchasing an additional 92,012,142 shares during the quarter. California State Teachers Retirement System owned 0.32% of TE Connectivity worth $18,644,389,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of TEL. State Street Corp lifted its stake in shares of TE Connectivity by 0.6% during the 4th quarter. State Street Corp now owns 13,105,219 shares of the electronics maker’s stock worth $2,981,572,000 after acquiring an additional 76,292 shares during the last quarter. Wellington Management Group LLP increased its stake in TE Connectivity by 48.2% in the second quarter. Wellington Management Group LLP now owns 7,709,235 shares of the electronics maker’s stock worth $1,554,259,000 after purchasing an additional 2,507,569 shares during the period. Geode Capital Management LLC lifted its position in shares of TE Connectivity by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 6,284,933 shares of the electronics maker’s stock worth $1,425,669,000 after purchasing an additional 161,967 shares during the last quarter. Bank of America Corp DE lifted its position in shares of TE Connectivity by 27.5% during the second quarter. Bank of America Corp DE now owns 6,274,917 shares of the electronics maker’s stock worth $1,058,390,000 after purchasing an additional 1,352,152 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of TE Connectivity by 3.4% during the fourth quarter. Bank of New York Mellon Corp now owns 4,403,794 shares of the electronics maker’s stock valued at $1,001,907,000 after purchasing an additional 144,353 shares during the period. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Robert W. Baird decreased their price objective on shares of TE Connectivity from $240.00 to $225.00 and set an “outperform” rating for the company in a report on Thursday, July 23rd. UBS Group reaffirmed a “buy” rating and set a $241.00 target price on shares of TE Connectivity in a research report on Thursday, July 23rd. Citigroup decreased their price target on shares of TE Connectivity from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Monday, July 13th. Zacks Research cut TE Connectivity from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Finally, Wells Fargo & Company reduced their price objective on TE Connectivity from $230.00 to $209.00 and set an “equal weight” rating on the stock in a report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $251.15.

Read Our Latest Research Report on TEL

TE Connectivity Stock Performance

Shares of TEL opened at $208.67 on Tuesday. The company has a current ratio of 1.88, a quick ratio of 1.23 and a debt-to-equity ratio of 0.42. The firm has a market cap of $60.41 billion, a PE ratio of 20.46, a P/E/G ratio of 1.40 and a beta of 1.16. TE Connectivity Ltd. has a 12 month low of $190.27 and a 12 month high of $252.56. The stock has a fifty day moving average price of $205.82 and a 200-day moving average price of $210.46.

TE Connectivity (NYSE:TEL – Get Free Report) last announced its earnings results on Wednesday, July 22nd. The electronics maker reported $2.94 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.09. TE Connectivity had a return on equity of 24.59% and a net margin of 15.61%.The firm had revenue of $5.16 billion for the quarter, compared to the consensus estimate of $5.01 billion. During the same period in the previous year, the business earned $2.27 EPS. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. TE Connectivity has set its Q4 2026 guidance at 3.050-3.050 EPS. Equities research analysts predict that TE Connectivity Ltd. will post 11.48 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

The firm 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. The ex-dividend date is Friday, August 21st. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.5%. TE Connectivity’s payout ratio is presently 30.59%.

About TE Connectivity

(Free Report)

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.

Read More

Want to see what other hedge funds are holding TEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TE Connectivity Ltd. (NYSE:TEL – Free Report).