Mutual of America Capital Management LLC Makes New $5.12 Million Investment in TE Connectivity Ltd. (NYSE:TEL)

Mutual of America Capital Management LLC acquired a new stake in TE Connectivity Ltd. (NYSE:TEL) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 35,833 shares of the electronics maker’s stock, valued at approximately $5,123,000.

A number of other hedge funds have also made changes to their positions in TEL. Flputnam Investment Management Co. lifted its position in TE Connectivity by 11.8% in the fourth quarter. Flputnam Investment Management Co. now owns 34,285 shares of the electronics maker’s stock valued at $4,902,000 after acquiring an additional 3,608 shares during the last quarter. QRG Capital Management Inc. increased its position in shares of TE Connectivity by 3.3% during the fourth quarter. QRG Capital Management Inc. now owns 108,161 shares of the electronics maker’s stock worth $15,464,000 after purchasing an additional 3,432 shares in the last quarter. Versor Investments LP lifted its holdings in shares of TE Connectivity by 457.4% in the 4th quarter. Versor Investments LP now owns 14,492 shares of the electronics maker’s stock valued at $2,072,000 after purchasing an additional 11,892 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of TE Connectivity in the 4th quarter valued at about $5,171,000. Finally, Oppenheimer & Co. Inc. grew its stake in TE Connectivity by 16.7% during the 4th quarter. Oppenheimer & Co. Inc. now owns 4,889 shares of the electronics maker’s stock worth $699,000 after buying an additional 698 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Insiders Place Their Bets

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $151.13, for a total value of $587,744.57. Following the completion of the sale, the insider now owns 25,976 shares in the company, valued at $3,925,752.88. This trade represents a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.90% of the company’s stock.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $148.19 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average price of $148.06 and a 200 day moving average price of $148.77. TE Connectivity Ltd. has a 52 week low of $137.61 and a 52 week high of $159.98. The company has a market cap of $44.21 billion, a P/E ratio of 23.67, a PEG ratio of 2.11 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.84 earnings per share. Research analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

Wall Street Analyst Weigh In

TEL has been the subject of a number of research reports. Truist Financial reduced their price objective on TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target for the company in a research note on Thursday, January 23rd. StockNews.com lowered shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Finally, Citigroup raised their price target on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, TE Connectivity presently has a consensus rating of “Hold” and an average price target of $167.00.

TE Connectivity 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.