Czech National Bank Boosts Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Czech National Bank grew its stake in TE Connectivity Ltd. (NYSE:TEL) by 7.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,355 shares of the electronics maker’s stock after acquiring an additional 4,022 shares during the quarter. Czech National Bank’s holdings in TE Connectivity were worth $8,778,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Mechanics Bank Trust Department purchased a new stake in shares of TE Connectivity during the second quarter valued at approximately $224,000. QRG Capital Management Inc. raised its stake in shares of TE Connectivity by 7.2% in the second quarter. QRG Capital Management Inc. now owns 84,003 shares of the electronics maker’s stock worth $12,637,000 after purchasing an additional 5,617 shares during the last quarter. OLD National Bancorp IN lifted its holdings in shares of TE Connectivity by 23.7% during the second quarter. OLD National Bancorp IN now owns 2,393 shares of the electronics maker’s stock valued at $360,000 after purchasing an additional 459 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of TE Connectivity during the second quarter valued at $15,847,000. Finally, BDF Gestion bought a new position in TE Connectivity during the 2nd quarter valued at about $1,846,000. 91.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TEL has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their target price on shares of TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Truist Financial upped their price target on shares of 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 shares of TE Connectivity in a research report on Monday. They set a “buy” rating for the company. Vertical Research assumed coverage on shares of TE Connectivity in a research report on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 price target on the stock. Finally, Robert W. Baird raised their target price on TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, TE Connectivity presently has a consensus rating of “Hold” and a consensus target price of $158.45.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 5,000 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $149.86, for a total transaction of $749,300.00. Following the transaction, the insider now 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 available at this hyperlink. In other news, CFO Heath A. Mitts sold 59,700 shares of TE Connectivity 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 directly owns 38,073 shares in the company, valued at $5,889,893.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Shadrak W. Kroeger sold 5,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $149.86, for a total transaction of $749,300.00. Following the completion of the transaction, the insider now owns 25,976 shares in the company, valued at $3,892,763.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 76,363 shares of company stock worth $11,791,461. Company insiders own 0.86% of the company’s stock.

TE Connectivity Price Performance

TE Connectivity stock traded up $1.34 during mid-day trading on Monday, reaching $145.33. 274,286 shares of the company’s stock traded hands, compared to its average volume of 1,950,606. TE Connectivity Ltd. has a 12-month low of $115.00 and a 12-month high of $159.98. The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.23. The stock has a 50 day moving average of $150.66 and a two-hundred day moving average of $146.29. The company has a market cap of $44.50 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 1.94 and a beta of 1.33.

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