TE Connectivity Ltd. (NYSE:TEL) Shares Purchased by Toronto Dominion Bank

Toronto Dominion Bank boosted its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 141.3% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 468,294 shares of the electronics maker’s stock after acquiring an additional 274,206 shares during the period. Toronto Dominion Bank owned about 0.15% of TE Connectivity worth $70,445,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Point72 Asset Management L.P. lifted its stake in TE Connectivity by 238.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 719,354 shares of the electronics maker’s stock valued at $108,212,000 after buying an additional 506,754 shares in the last quarter. Insigneo Advisory Services LLC lifted its position in shares of TE Connectivity by 64.9% in the second quarter. Insigneo Advisory Services LLC now owns 4,422 shares of the electronics maker’s stock valued at $634,000 after acquiring an additional 1,741 shares in the last quarter. Mill Creek Capital Advisors LLC boosted its stake in shares of TE Connectivity by 12.8% in the second quarter. Mill Creek Capital Advisors LLC now owns 5,944 shares of the electronics maker’s stock worth $894,000 after acquiring an additional 673 shares during the last quarter. Bank of Montreal Can increased its position in shares of TE Connectivity by 43.0% during the second quarter. Bank of Montreal Can now owns 1,155,426 shares of the electronics maker’s stock worth $174,955,000 after purchasing an additional 347,315 shares in the last quarter. Finally, Evergreen Capital Management LLC raised its stake in TE Connectivity by 2.4% in the 2nd quarter. Evergreen Capital Management LLC now owns 5,800 shares of the electronics maker’s stock valued at $873,000 after purchasing an additional 137 shares during the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Hsbc Global Res raised shares of TE Connectivity to a “hold” rating in a research note on Wednesday, July 24th. Truist Financial upped their price objective on shares of TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Bank of America raised their target price on shares of TE Connectivity from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Wells Fargo & Company dropped their price target on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a research report on Friday, September 20th. Finally, Vertical Research initiated coverage on TE Connectivity in a research report on Tuesday, July 23rd. They set a “hold” rating and a $155.00 price objective on the stock. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $158.73.

Insider Buying and Selling at TE Connectivity

In other news, insider Aaron Kyle Stucki sold 8,750 shares of TE Connectivity stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $155.00, for a total value of $1,356,250.00. Following the completion of the sale, the insider now directly owns 20,556 shares of the company’s stock, valued at $3,186,180. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Heath A. Mitts sold 59,700 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $154.70, for a total value of $9,235,590.00. Following the completion of the transaction, the chief financial officer now owns 38,073 shares of the company’s stock, valued at $5,889,893.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Aaron Kyle Stucki sold 8,750 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $155.00, for a total transaction of $1,356,250.00. Following the sale, the insider now directly owns 20,556 shares in the company, valued at $3,186,180. The disclosure for this sale can be found here. Insiders have sold a total of 71,363 shares of company stock valued at $11,042,161 over the last quarter. 0.86% of the stock is owned by company insiders.

TE Connectivity Stock Performance

NYSE TEL opened at $148.78 on Wednesday. The stock has a fifty day simple moving average of $149.22 and a 200-day simple moving average of $147.59. The company has a current ratio of 1.51, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23. The stock has a market cap of $45.22 billion, a PE ratio of 13.61, a P/E/G ratio of 2.02 and a beta of 1.33. TE Connectivity Ltd. has a twelve month low of $115.00 and a twelve month high of $159.98.

TE Connectivity (NYSE:TEL) last announced 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 net margin of 21.94% and a return on equity of 18.53%. The business had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same period last year, the business earned $1.77 earnings per share. The business’s revenue for the quarter was up .1% on a year-over-year basis. Equities analysts anticipate that TE Connectivity Ltd. will post 7.57 earnings per share for the current year.

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.