Allstate Corp Has $5.03 Million Stock Position in TE Connectivity Ltd. $TEL

Allstate Corp boosted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 103.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 22,122 shares of the electronics maker’s stock after buying an additional 11,232 shares during the period. Allstate Corp’s holdings in TE Connectivity were worth $5,033,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Fisher Asset Management LLC raised its position in TE Connectivity by 12.7% during the fourth quarter. Fisher Asset Management LLC now owns 2,405 shares of the electronics maker’s stock valued at $547,000 after buying an additional 271 shares during the period. CYBER HORNET ETFs LLC increased its holdings in shares of TE Connectivity by 5.6% during the 4th quarter. CYBER HORNET ETFs LLC now owns 887 shares of the electronics maker’s stock valued at $202,000 after acquiring an additional 47 shares during the last quarter. Clearstead Advisors LLC raised its stake in shares of TE Connectivity by 62.9% in the 4th quarter. Clearstead Advisors LLC now owns 3,552 shares of the electronics maker’s stock valued at $808,000 after acquiring an additional 1,371 shares in the last quarter. HBK Sorce Advisory LLC raised its stake in shares of TE Connectivity by 12.4% in the 4th quarter. HBK Sorce Advisory LLC now owns 1,021 shares of the electronics maker’s stock valued at $220,000 after acquiring an additional 113 shares in the last quarter. Finally, Swedbank AB raised its stake in shares of TE Connectivity by 8.1% in the 4th quarter. Swedbank AB now owns 84,831 shares of the electronics maker’s stock valued at $19,300,000 after acquiring an additional 6,385 shares in the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 9,400 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $215.00, for a total value of $2,021,000.00. Following the sale, the insider directly owned 25,976 shares in the company, valued at approximately $5,584,840. This represents a 26.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 28,200 shares of company stock valued at $6,211,332. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. HSBC downgraded shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $234.00 price objective for the company. in a report on Thursday, April 23rd. Zacks Research raised TE Connectivity from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. Oppenheimer boosted their price objective on TE Connectivity from $270.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. UBS Group cut their price objective on TE Connectivity from $272.00 to $261.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. Finally, Truist Financial cut their price objective on TE Connectivity from $244.00 to $240.00 and set a “hold” rating for the company in a research report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $256.57.

TE Connectivity Trading Up 3.1%

TE Connectivity stock opened at $209.16 on Wednesday. The business has a 50 day moving average price of $212.34 and a two-hundred day moving average price of $222.77. The company has a quick ratio of 1.20, a current ratio of 1.89 and a debt-to-equity ratio of 0.42. The stock has a market cap of $61.05 billion, a price-to-earnings ratio of 21.36, a price-to-earnings-growth ratio of 1.44 and a beta of 1.18. TE Connectivity Ltd. has a 12 month low of $158.09 and a 12 month high of $252.56.

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

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

TE Connectivity Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 22nd will be paid a $0.78 dividend. The ex-dividend date is Friday, May 22nd. This represents a $3.12 annualized dividend and a dividend yield of 1.5%. This is an increase from TE Connectivity’s previous quarterly dividend of $0.71. TE Connectivity’s dividend payout ratio is currently 31.87%.

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.