TE Connectivity Ltd. (NYSE:TEL) Shares Bought by OLD National Bancorp IN

OLD National Bancorp IN lifted its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 23.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,393 shares of the electronics maker’s stock after acquiring an additional 459 shares during the period. OLD National Bancorp IN’s holdings in TE Connectivity were worth $360,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TEL. Price T Rowe Associates Inc. MD lifted its holdings in TE Connectivity by 54.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker’s stock valued at $2,265,218,000 after purchasing an additional 5,526,230 shares in the last quarter. Norges Bank purchased a new position in shares of TE Connectivity during the fourth quarter valued at approximately $693,985,000. First Trust Advisors LP boosted its position in TE Connectivity by 150.9% during the fourth quarter. First Trust Advisors LP now owns 2,143,423 shares of the electronics maker’s stock worth $301,151,000 after acquiring an additional 1,289,230 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in TE Connectivity by 1,000.5% during the first quarter. Assenagon Asset Management S.A. now owns 1,335,477 shares of the electronics maker’s stock worth $193,965,000 after acquiring an additional 1,214,122 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in TE Connectivity by 12.5% in the 4th quarter. Wellington Management Group LLP now owns 3,630,003 shares of the electronics maker’s stock worth $510,015,000 after acquiring an additional 403,750 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Truist Financial lifted their price objective on TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. StockNews.com assumed coverage on TE Connectivity in a report on Sunday, August 4th. They issued a “buy” rating on the stock. Wells Fargo & Company decreased their price objective on shares of TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 25th. Robert W. Baird upped their target price on TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, HSBC downgraded TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 target price on the stock. in a report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $158.45.

Insider Activity

In related news, SVP Robert J. Ott sold 2,913 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total transaction of $450,320.67. Following the completion of the sale, the senior vice president now owns 25,504 shares of the company’s stock, valued at approximately $3,942,663.36. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other TE Connectivity news, insider Shadrak W. Kroeger sold 5,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $149.86, for a total value of $749,300.00. Following the sale, the insider now directly owns 25,976 shares in the company, valued at $3,892,763.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Robert J. Ott sold 2,913 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total transaction of $450,320.67. Following the transaction, the senior vice president now owns 25,504 shares of the company’s stock, valued at approximately $3,942,663.36. The disclosure for this sale can be found here. In the last three months, insiders sold 76,363 shares of company stock valued at $11,791,461. Company insiders own 0.86% of the company’s stock.

TE Connectivity Stock Up 0.4 %

NYSE:TEL traded up $0.53 during mid-day trading on Friday, reaching $143.99. The stock had a trading volume of 1,085,692 shares, compared to its average volume of 1,961,720. The stock’s 50 day simple moving average is $150.66 and its two-hundred day simple moving average is $146.19. TE Connectivity Ltd. has a 1-year low of $115.00 and a 1-year high of $159.98. The company has a market capitalization of $43.76 billion, a price-to-earnings ratio of 13.17, a price-to-earnings-growth ratio of 1.94 and a beta of 1.33. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.51 and a quick ratio of 0.99.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.05. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. The business had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the previous year, the business earned $1.77 EPS. The business’s quarterly revenue was up .1% on a year-over-year basis. Equities analysts anticipate that TE Connectivity Ltd. will post 7.56 EPS for the current year.

About TE Connectivity

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.