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Allstate Corp Acquires New Position in TE Connectivity Ltd. (NYSE:TEL)

Published April 1, 2025

Allstate Corp has recently made a strategic investment by acquiring a new position in TE Connectivity Ltd. (NYSE:TEL - Free Report) during the fourth quarter, as revealed in a disclosure with the Securities and Exchange Commission. The fund purchased 8,576 shares of the electronics maker's stock, valued at approximately $1,226,000.

Other institutional investors have also recently engaged in buying and selling shares of TE Connectivity. For instance, Nomura Asset Management Co. Ltd. increased its holdings in TE Connectivity by 4.1% during the third quarter. After acquiring an additional 9,670 shares, it now holds a total of 243,274 shares, amounting to a value of $36,732,000. Additionally, Central Pacific Bank Trust Division acquired a new stake worth about $2,920,000 in the same quarter. Meyer Handelman Co. expanded its investments in TE Connectivity by 9.9% during the fourth quarter, now owning 101,640 shares valued at $14,531,000 after purchasing an extra 9,175 shares. Furthermore, abrdn plc has also made a new position in TE Connectivity valued at around $15,739,000. Finally, Truist Financial Corp enhanced its position by 32.8% in the fourth quarter, holding 129,461 shares worth $18,509,000 after an acquisition of 31,991 additional shares. Currently, 91.43% of TE Connectivity's stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equity analysts have shared their insights regarding TE Connectivity's stock performance. Wells Fargo & Company raised their price target from $151.00 to $155.00 while maintaining an "equal weight" rating on January 23rd. On the same day, Bank of America increased their target price from $167.00 to $170.00, giving the company a "buy" rating. HSBC Global Research upgraded TE Connectivity from a "moderate sell" to a "hold" rating, reflecting a positive outlook. Citigroup also raised its price target to $165.00 and maintained a "neutral" rating in their report. Meanwhile, Truist Financial decreased their target price from $165.00 to $163.00, categorizing it as a "hold". In total, seven analysts assigned a hold rating while six analysts recommended buying the stock, leading to a consensus rating of "Hold" and a price target of $167.00 according to MarketBeat.com.

Read Our Latest Analysis on TE Connectivity

TE Connectivity Stock Down 3.4%

As of Monday, shares of NYSE:TEL opened at $142.04. TE Connectivity boasts a market capitalization of $42.38 billion, a price-to-earnings ratio of 22.69, a price-to-earnings-growth ratio of 2.11, and a beta of 1.32. The company has recorded a 50-day moving average of $149.32 and a two-hundred-day moving average of $148.44. In the past year, the stock has seen a low of $137.61 and a high of $159.98. The firm's quick ratio stands at 1.10, the current ratio at 1.68, and its debt-to-equity ratio at 0.26.

TE Connectivity last announced its quarterly earnings results on January 22nd, reporting earnings of $1.95 per share for the quarter, exceeding analysts' estimates of $1.89 by $0.06. The company's revenue for the quarter reached $3.84 billion, slightly falling short of the anticipated $3.92 billion. TE Connectivity achieved a net margin of 12.10% and a return on equity of 18.82%, reflecting modest growth as the revenue was up 0.1% year-over-year. Analysts are predicting that TE Connectivity Ltd. will report earnings of 8.05 per share for the current fiscal year.

TE Connectivity Increases Dividend

Recently, the company declared a quarterly dividend of $0.71, which will be paid on June 10th to investors recorded on May 21st. The ex-dividend date is also set for May 21st. This marks an annualized dividend of $2.84 with a yield of 2.00%, an increase from the previous quarterly dividend of $0.65. Currently, TE Connectivity's dividend payout ratio is 45.37%.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares on January 27th at an average price of $151.13, totaling approximately $587,744.57. After this transaction, he retains 25,976 shares valued around $3,925,752.88, representing a 13.02% reduction in his position. This transaction was disclosed in a filing available through the SEC, reflecting that insiders currently hold 0.90% of TE Connectivity's stock.

TE Connectivity Profile

TE Connectivity Ltd., along with its subsidiaries, specializes in manufacturing and selling connectivity and sensor solutions across Europe, the Middle East, Africa, Asia-Pacific, and the Americas. The company operates through three main segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

Should You Invest $1,000 in TE Connectivity Right Now?

Before investing in TE Connectivity, it is vital to consider current market advice. Analysts keep track of the best-performing research to advise their clients daily. Though TE Connectivity currently holds a "Hold" rating, some top analysts believe other stocks may offer better investment opportunities.

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