Commerzbank buys $6.42M stake in TE Connectivity as institutions circle
What's the deal? Commerzbank Aktiengesellschaft FIDealroom has a profile for this one. Try Dealroom → acquired a new stake in TE ConnectivityDealroom has a profile for this one. Try Dealroom → worth about $6,418,000 during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The German lender picked up 31,833 shares of the electronics maker.
Who else is buying? Squarepoint Ops raised its holdings by 1,214% in the second quarter to 105,267 shares worth $17,755,000. Ieq CapitalDealroom has a profile for this one. Try Dealroom → lifted its stake 75% to 23,284 shares, while Sivia Capital Partners and Walleye CapitalDealroom has a profile for this one. Try Dealroom → also added to positions. Institutional investors now own 91.43% of the stock.
Why now? The moves come as analysts stay broadly positive. TE Connectivity carries a "Moderate Buy" consensus rating and an average price target of $251.15, per MarketBeat.comDealroom has a profile for this one. Try Dealroom →.
The numbers: BarclaysDealroom has a profile for this one. Try Dealroom → lifted its target to $300 with an "overweight" rating, while Truist FinancialDealroom has a profile for this one. Try Dealroom → cut its target to $240 and set a "hold." One analyst rates the stock "Strong Buy," eight rate it "Buy," and six rate it "Hold."
What could go wrong? Insider selling adds a note of caution. Shadrak W. Kroeger sold 9,400 shares on June 1 at an average $215.00, a total of $2,021,000 — cutting the insider's holding by 26.57% under a pre-arranged Rule 10b5-1 plan.
Stock check: Shares opened at $217.84 on Tuesday, against a 12-month range of $190.27 to $252.56. The company holds a market cap of $63.07 billion, a price-to-earnings ratio of 21.36, and a debt-to-equity ratio of 0.42.
The signal: Heavy institutional accumulation alongside a split analyst view and insider sales points to a stock still finding consensus. With nearly all shares held by institutions, TE Connectivity's direction increasingly rests on where big money moves next.
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