TE Connectivity (NYSE:TEL) Shares Acquired Rep. Josh Gottheimer

Representative Josh Gottheimer (D-New Jersey) recently bought shares of TE Connectivity Ltd. (NYSE:TEL). In a filing disclosed on November 06th, the Representative disclosed that they had bought between $1,001 and $15,000 in TE Connectivity stock on October 4th. The trade occurred in the Representative’s “MORGAN STANLEY – SELECT UMA ACCOUNT # 1” account.

Representative Josh Gottheimer also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Texas Capital Bancshares (NASDAQ:TCBI) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of ITT (NYSE:ITT) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of Stifel Financial (NYSE:SF) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of ICU Medical (NASDAQ:ICUI) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of AppFolio (NASDAQ:APPF) on 10/31/2024.
• Purchased $1,001 – $15,000 in shares of Gates Industrial (NYSE:GTES) on 10/31/2024.
• Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 10/29/2024.
• Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 10/28/2024.
• Purchased $1,001 – $15,000 in shares of Disco (OTCMKTS:DSCSY) on 10/28/2024.
• Purchased $1,001 – $15,000 in shares of Enerpac Tool Group (NYSE:EPAC) on 10/25/2024.

TE Connectivity Trading Up 0.3 %

Shares of TEL stock opened at $155.20 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. TE Connectivity Ltd. has a fifty-two week low of $123.79 and a fifty-two week high of $159.98. The firm’s 50 day moving average price is $147.90 and its two-hundred day moving average price is $148.71. The stock has a market cap of $47.17 billion, a price-to-earnings ratio of 15.11, a price-to-earnings-growth ratio of 2.04 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, meeting the consensus estimate of $1.95. The business had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The company’s revenue was up .8% on a year-over-year basis. During the same period last year, the business posted $1.78 EPS. On average, analysts anticipate that TE Connectivity Ltd. will post 8.14 EPS for the current year.

TE Connectivity declared that its board has authorized a stock repurchase plan on Wednesday, October 30th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the electronics maker to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On TE Connectivity

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TEL. Simplicity Wealth LLC grew its position in TE Connectivity by 2.7% during the second quarter. Simplicity Wealth LLC now owns 2,509 shares of the electronics maker’s stock valued at $377,000 after purchasing an additional 67 shares in the last quarter. Silvercrest Asset Management Group LLC grew its stake in TE Connectivity by 2.3% in the first quarter. Silvercrest Asset Management Group LLC now owns 2,977 shares of the electronics maker’s stock valued at $432,000 after purchasing an additional 68 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its position in TE Connectivity by 3.9% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,835 shares of the electronics maker’s stock worth $267,000 after purchasing an additional 69 shares during the last quarter. Optas LLC raised its stake in shares of TE Connectivity by 4.2% during the 3rd quarter. Optas LLC now owns 1,778 shares of the electronics maker’s stock worth $268,000 after purchasing an additional 71 shares in the last quarter. Finally, Manchester Capital Management LLC lifted its holdings in shares of TE Connectivity by 5.4% during the 1st quarter. Manchester Capital Management LLC now owns 1,427 shares of the electronics maker’s stock valued at $207,000 after buying an additional 73 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Hsbc Global Res lowered shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. StockNews.com initiated coverage on TE Connectivity in a report on Friday. They issued a “buy” rating for the company. Wells Fargo & Company decreased their price objective on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a report on Friday, September 20th. Robert W. Baird increased their target price on shares of TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, The Goldman Sachs Group decreased their price target on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $159.55.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey’s 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2025. Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey’s 5th Congressional District. He declared candidacy for the 2024 election. Gottheimer was first elected to the House in 2016. Prior to his election, Gottheimer worked for Microsoft, the Federal Communications Commission, and for the administration of President Bill Clinton (D). Click here for more information about Gottheimer’s career. Gottheimer serves on the House Financial Services Committee, where is a member of three subcommittees. For more on Gottheimer’s committee assignments, click here. Gottheimer became a co-chair of the Problem Solvers Caucus in February 2017. Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

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.