Rep. Josh Gottheimer Purchases Shares of TE Connectivity Ltd. (NYSE:TEL)

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 3rd.

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 TE Connectivity stock opened at $155.20 on Friday. The stock has a market capitalization of $47.17 billion, a P/E ratio of 15.11, a P/E/G ratio of 2.10 and a beta of 1.33. TE Connectivity Ltd. has a 52-week low of $123.79 and a 52-week high of $159.98. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.61. The stock’s 50-day simple moving average is $147.90 and its 200 day simple moving average is $148.71.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, meeting analysts’ consensus estimates of $1.95. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The company had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $4 billion. During the same period in the prior year, the company posted $1.78 EPS. TE Connectivity’s revenue was up .8% compared to the same quarter last year. As a group, research analysts anticipate that TE Connectivity Ltd. will post 8.13 EPS for the current year.

TE Connectivity announced that its Board of Directors has authorized a stock repurchase program on Wednesday, October 30th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the electronics maker to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TEL shares. Hsbc Global Res lowered TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. The Goldman Sachs Group decreased their price target on TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Wolfe Research raised shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. StockNews.com started coverage on shares of TE Connectivity in a research note on Friday. They issued a “buy” rating on the stock. Finally, Wells Fargo & Company reduced their price target on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a research report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $159.55.

Institutional Trading of TE Connectivity

Several hedge funds and other institutional investors have recently bought and sold shares of TEL. Russell Investments Group Ltd. grew its holdings in shares of TE Connectivity by 25.3% during the 1st quarter. Russell Investments Group Ltd. now owns 287,942 shares of the electronics maker’s stock valued at $41,811,000 after purchasing an additional 58,219 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in TE Connectivity by 17.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 361,166 shares of the electronics maker’s stock valued at $52,456,000 after buying an additional 52,824 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its position in TE Connectivity by 72.8% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,687 shares of the electronics maker’s stock worth $46,537,000 after acquiring an additional 135,548 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in TE Connectivity during the 2nd quarter valued at $15,847,000. Finally, Headlands Technologies LLC raised its stake in shares of TE Connectivity by 2,037.3% during the first quarter. Headlands Technologies LLC now owns 3,612 shares of the electronics maker’s stock valued at $525,000 after acquiring an additional 3,443 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

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.