Commerzbank Aktiengesellschaft FI Acquires 493 Shares of TE Connectivity Ltd. (NYSE:TEL)

Commerzbank Aktiengesellschaft FI raised its holdings in TE Connectivity Ltd. (NYSE:TEL) by 21.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,790 shares of the electronics maker’s stock after acquiring an additional 493 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in TE Connectivity were worth $422,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Private Advisor Group LLC boosted its stake in TE Connectivity by 3.3% in the third quarter. Private Advisor Group LLC now owns 16,062 shares of the electronics maker’s stock valued at $2,425,000 after acquiring an additional 513 shares during the last quarter. Eastern Bank acquired a new stake in TE Connectivity in the third quarter worth $268,000. Signaturefd LLC raised its holdings in TE Connectivity by 3.3% in the third quarter. Signaturefd LLC now owns 7,150 shares of the electronics maker’s stock worth $1,080,000 after purchasing an additional 228 shares during the period. Foundations Investment Advisors LLC acquired a new stake in TE Connectivity in the third quarter worth $202,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in TE Connectivity by 49.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 67,351 shares of the electronics maker’s stock worth $10,169,000 after purchasing an additional 22,164 shares during the period. 91.43% of the stock is owned by institutional investors.

TE Connectivity Stock Performance

Shares of TEL stock opened at $145.47 on Thursday. The company has a market capitalization of $44.21 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 1.92 and a beta of 1.33. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.51. The company has a 50-day simple moving average of $148.07 and a 200 day simple moving average of $148.23. TE Connectivity Ltd. has a 52 week low of $115.00 and a 52 week high of $159.98.

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

Insider Activity

In other TE Connectivity news, SVP Robert J. Ott sold 2,913 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total transaction of $450,320.67. Following the sale, the senior vice president now directly owns 25,504 shares of the company’s stock, valued at $3,942,663.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, SVP Robert J. Ott sold 2,913 shares of the stock in a transaction on 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 directly owns 25,504 shares in the company, valued at $3,942,663.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Heath A. Mitts sold 59,700 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $154.70, for a total transaction of $9,235,590.00. Following the completion of the sale, the chief financial officer now owns 38,073 shares of the company’s stock, valued at $5,889,893.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TEL. The Goldman Sachs Group cut their target price on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Bank of America cut their target price on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Truist Financial increased their target price on shares of TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Vertical Research began coverage on shares of TE Connectivity in a report on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 target price on the stock. Finally, Hsbc Global Res upgraded shares of TE Connectivity to a “hold” rating in a report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $161.82.

TE Connectivity Company Profile

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.