3,941 Shares in TE Connectivity Ltd. (NYSE:TEL) Purchased by Cascadia Advisory Services LLC

Cascadia Advisory Services LLC purchased a new position in shares of TE Connectivity Ltd. (NYSE:TEL) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 3,941 shares of the electronics maker’s stock, valued at approximately $533,000.

Other large investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its position in TE Connectivity by 122.4% during the first quarter. Victory Capital Management Inc. now owns 48,107 shares of the electronics maker’s stock worth $6,211,000 after acquiring an additional 26,481 shares during the period. Commonwealth Equity Services LLC grew its position in TE Connectivity by 12.7% during the first quarter. Commonwealth Equity Services LLC now owns 18,168 shares of the electronics maker’s stock worth $2,345,000 after buying an additional 2,051 shares in the last quarter. Bank of Nova Scotia grew its position in TE Connectivity by 2.0% during the first quarter. Bank of Nova Scotia now owns 8,879 shares of the electronics maker’s stock worth $1,146,000 after buying an additional 173 shares in the last quarter. Keybank National Association OH grew its position in TE Connectivity by 1.8% during the first quarter. Keybank National Association OH now owns 5,961 shares of the electronics maker’s stock worth $770,000 after buying an additional 103 shares in the last quarter. Finally, The PNC Financial Services Group Inc. grew its stake in TE Connectivity by 0.8% during the first quarter. The PNC Financial Services Group Inc. now owns 130,489 shares of the electronics maker’s stock worth $16,849,000 after buying an additional 1,044 shares in the last quarter. 89.51% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently weighed in on TEL. Morgan Stanley upped their price target on shares of TE Connectivity from $135.00 to $138.00 and gave the stock an “equal weight” rating in a report on Thursday, July 29th. Royal Bank of Canada raised their target price on TE Connectivity from $160.00 to $166.00 and gave the company an “outperform” rating in a report on Thursday, July 29th. Truist upped their price objective on TE Connectivity from $139.00 to $149.00 and gave the stock a “hold” rating in a research report on Thursday, July 29th. Jefferies Financial Group initiated coverage on TE Connectivity in a research report on Thursday, July 29th. They issued a “buy” rating and a $170.00 target price on the stock. Finally, Robert W. Baird increased their price objective on shares of TE Connectivity from $145.00 to $158.00 and gave the company an “outperform” rating in a research note on Thursday, July 29th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $150.08.

Shares of NYSE:TEL opened at $138.24 on Wednesday. TE Connectivity Ltd. has a 1 year low of $90.88 and a 1 year high of $153.54. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.59 and a quick ratio of 1.07. The business’s 50-day moving average is $146.01 and its 200-day moving average is $137.82. The company has a market capitalization of $45.34 billion, a price-to-earnings ratio of 27.21, a P/E/G ratio of 2.15 and a beta of 1.36.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, July 28th. The electronics maker reported $1.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.58 by $0.21. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.73 billion. TE Connectivity had a return on equity of 20.47% and a net margin of 11.81%. Analysts anticipate that TE Connectivity Ltd. will post 6.48 EPS for the current year.

TE Connectivity announced that its board has authorized a stock repurchase plan on Friday, June 11th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the electronics maker to reacquire up to 3.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

In other TE Connectivity news, Director Thomas J. Lynch sold 100,000 shares of the company’s stock in a transaction dated Thursday, August 5th. The shares were sold at an average price of $148.31, for a total transaction of $14,831,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Daniel J. Phelan bought 231 shares of the company’s stock in a transaction on Tuesday, August 10th. The shares were bought at an average price of $150.25 per share, for a total transaction of $34,707.75. Following the transaction, the director now owns 34,151 shares of the company’s stock, valued at $5,131,187.75. The disclosure for this purchase can be found here. 0.79% of the stock is currently owned by corporate insiders.

TE Connectivity Company Profile

TE Connectivity Ltd. engages in the design and manufacture of connectivity and sensors solutions. It operates through the following segments: Transportation, Industrial, and Communications Solutions. The Transportation Solutions segment offers products that are used in the automotive, commercial transportation, and sensors markets.

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Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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