CIBC Asset Management Inc Increases Stake in TE Connectivity Ltd. $TEL

CIBC Asset Management Inc boosted its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 27.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 86,721 shares of the electronics maker’s stock after purchasing an additional 18,720 shares during the period. CIBC Asset Management Inc’s holdings in TE Connectivity were worth $19,730,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of TE Connectivity by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 38,421,283 shares of the electronics maker’s stock valued at $8,741,226,000 after acquiring an additional 168,142 shares during the period. State Street Corp lifted its position in TE Connectivity by 0.8% during the 3rd quarter. State Street Corp now owns 13,028,927 shares of the electronics maker’s stock worth $2,860,244,000 after acquiring an additional 100,194 shares during the period. Geode Capital Management LLC grew its stake in TE Connectivity by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 6,284,933 shares of the electronics maker’s stock valued at $1,425,669,000 after purchasing an additional 161,967 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of TE Connectivity by 27.5% in the second quarter. Bank of America Corp DE now owns 6,274,917 shares of the electronics maker’s stock valued at $1,058,390,000 after purchasing an additional 1,352,152 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of TE Connectivity by 3.4% in the fourth quarter. Bank of New York Mellon Corp now owns 4,403,794 shares of the electronics maker’s stock worth $1,001,907,000 after purchasing an additional 144,353 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

Insider Transactions at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 9,400 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $215.00, for a total transaction of $2,021,000.00. Following the sale, the insider owned 25,976 shares in the company, valued at approximately $5,584,840. This trade represents a 26.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 28,200 shares of company stock worth $6,140,644 over the last quarter. Corporate insiders own 0.60% of the company’s stock.

TE Connectivity Stock Up 1.2%

Shares of TEL stock opened at $220.91 on Friday. TE Connectivity Ltd. has a twelve month low of $161.50 and a twelve month high of $252.56. The stock has a market cap of $64.48 billion, a P/E ratio of 22.57, a P/E/G ratio of 1.55 and a beta of 1.16. The stock has a 50 day moving average of $214.21 and a 200 day moving average of $221.35. 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 (NYSE:TEL) last released its quarterly earnings data on Wednesday, April 22nd. The electronics maker reported $2.73 EPS for the quarter, topping the consensus estimate of $2.70 by $0.03. The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.72 billion. TE Connectivity had a return on equity of 23.56% and a net margin of 15.54%.The business’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.10 EPS. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. As a group, sell-side analysts expect that TE Connectivity Ltd. will post 11.28 EPS for the current year.

TE Connectivity announced that its board has initiated a stock repurchase program on Wednesday, March 11th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the electronics maker to purchase up to 5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

TE Connectivity Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 22nd will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 1.4%. 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. TE Connectivity’s payout ratio is currently 31.87%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Barclays decreased their target price on TE Connectivity from $302.00 to $297.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. UBS Group reduced their price target on shares of TE Connectivity from $272.00 to $261.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. Zacks Research upgraded shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. Wall Street Zen downgraded shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Wells Fargo & Company raised their target price on shares of TE Connectivity from $214.00 to $226.00 and gave the stock an “equal weight” rating in a report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, ten have issued 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 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.