OLD National Bancorp IN Has $374,000 Stock Position in TE Connectivity Ltd. (NYSE:TEL)

OLD National Bancorp IN boosted its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 3.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,478 shares of the electronics maker’s stock after buying an additional 85 shares during the quarter. OLD National Bancorp IN’s holdings in TE Connectivity were worth $374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. grew its position in TE Connectivity by 147.7% during the third quarter. Blue Trust Inc. now owns 1,734 shares of the electronics maker’s stock worth $261,000 after buying an additional 1,034 shares in the last quarter. Net Worth Advisory Group bought a new stake in shares of TE Connectivity in the 3rd quarter worth approximately $305,000. Aaron Wealth Advisors LLC grew its holdings in shares of TE Connectivity by 21.0% during the 3rd quarter. Aaron Wealth Advisors LLC now owns 3,256 shares of the electronics maker’s stock worth $492,000 after purchasing an additional 566 shares in the last quarter. V Square Quantitative Management LLC increased its position in shares of TE Connectivity by 14.4% during the third quarter. V Square Quantitative Management LLC now owns 8,793 shares of the electronics maker’s stock valued at $1,328,000 after purchasing an additional 1,109 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of TE Connectivity by 0.7% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,705 shares of the electronics maker’s stock valued at $4,787,000 after purchasing an additional 232 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

TE Connectivity Trading Down 0.6 %

TEL opened at $146.80 on Wednesday. TE Connectivity Ltd. has a 1-year low of $115.00 and a 1-year high of $159.98. The stock has a market capitalization of $44.62 billion, a PE ratio of 13.20, a PEG ratio of 1.92 and a beta of 1.33. 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 firm has a 50-day moving average price of $148.06 and a two-hundred day moving average price of $148.25.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.05. The firm 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%. TE Connectivity’s revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.77 EPS. As a group, equities analysts anticipate that TE Connectivity Ltd. will post 7.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TEL shares. Wolfe Research raised shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. The Goldman Sachs Group dropped their price target on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. HSBC downgraded TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price objective on the stock. in a report on Wednesday, July 24th. Truist Financial increased their target price on TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, Vertical Research began coverage on TE Connectivity in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 price target on the stock. Eight 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, TE Connectivity presently has an average rating of “Hold” and an average price target of $161.82.

Insider Activity

In related news, CFO Heath A. Mitts sold 59,700 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $154.70, for a total value of $9,235,590.00. Following the transaction, the chief financial officer now owns 38,073 shares in the company, valued at $5,889,893.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Heath A. Mitts sold 59,700 shares of the 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 transaction, the chief financial officer now directly owns 38,073 shares in the company, valued at $5,889,893.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Robert J. Ott sold 2,913 shares of the company’s 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 sale, the senior vice president now 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 disclosure for this sale can be found here. Insiders own 0.86% of the company’s stock.

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.