TE Connectivity (NYSE:TEL) Stock Bought 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 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 Price Performance

Shares of TE Connectivity stock traded up $1.07 during trading on Friday, hitting $156.27. 275,316 shares of the stock traded hands, compared to its average volume of 1,834,617. The firm’s fifty day moving average is $147.90 and its 200-day moving average is $148.71. The stock has a market cap of $47.49 billion, a price-to-earnings ratio of 15.11, a PEG 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 quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, meeting the consensus estimate 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 analyst estimates of $4 billion. During the same quarter last year, the firm earned $1.78 EPS. The firm’s quarterly revenue was up .8% compared to the same quarter last year. Research analysts expect that TE Connectivity Ltd. will post 8.13 EPS for the current fiscal year.

TE Connectivity declared that its Board of Directors has approved a share buyback program on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

TEL has been the topic of several recent analyst reports. Wells Fargo & Company cut their price target on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a report on Friday, September 20th. HSBC cut TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target on the stock. in a research report on Thursday, October 31st. Vertical Research assumed coverage on TE Connectivity in a research note on Tuesday, July 23rd. They set a “hold” rating and a $155.00 price objective for the company. Bank of America cut their target price on TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Finally, Truist Financial lifted their price target on TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, TE Connectivity currently has a consensus rating of “Hold” and a consensus target price of $159.55.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc increased its stake in shares of TE Connectivity by 209.8% in the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 128 shares in the last quarter. Olistico Wealth LLC purchased a new stake in TE Connectivity in the second quarter worth about $30,000. Armstrong Advisory Group Inc. raised its stake in shares of TE Connectivity by 208.3% in the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after buying an additional 150 shares during the period. Bank & Trust Co purchased a new position in shares of TE Connectivity during the 2nd quarter valued at about $35,000. Finally, Wolff Wiese Magana LLC grew its stake in shares of TE Connectivity by 2,450.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock valued at $39,000 after acquiring an additional 245 shares during the period. 91.43% of the stock is currently owned by institutional investors.

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.