TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC lowered its stake in TE Connectivity Ltd. (NYSE:TEL) by 3.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 147,900 shares of the electronics maker’s stock after selling 4,800 shares during the quarter. Gabelli Funds LLC’s holdings in TE Connectivity were worth $21,481,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in TE Connectivity in the 4th quarter worth about $10,759,000. Tower Research Capital LLC TRC lifted its holdings in TE Connectivity by 184.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 43,867 shares of the electronics maker’s stock worth $6,163,000 after purchasing an additional 28,449 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in TE Connectivity by 17.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 361,166 shares of the electronics maker’s stock worth $52,456,000 after purchasing an additional 52,824 shares during the last quarter. Russell Investments Group Ltd. increased its position in TE Connectivity by 25.3% in the 1st quarter. Russell Investments Group Ltd. now owns 287,942 shares of the electronics maker’s stock worth $41,811,000 after buying an additional 58,219 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in TE Connectivity by 72.8% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,687 shares of the electronics maker’s stock worth $46,537,000 after buying an additional 135,548 shares during the period. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Insider Activity

In other news, Director Mark Trudeau sold 7,044 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $141.49, for a total transaction of $996,655.56. Following the transaction, the director now owns 5,917 shares of the company’s stock, valued at $837,196.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other TE Connectivity news, insider Aaron Kyle Stucki sold 8,750 shares of the stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $155.00, for a total value of $1,356,250.00. Following the transaction, the insider now owns 20,556 shares of the company’s stock, valued at $3,186,180. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark Trudeau sold 7,044 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $141.49, for a total value of $996,655.56. Following the completion of the transaction, the director now directly owns 5,917 shares in the company, valued at approximately $837,196.33. The disclosure for this sale can be found here. Insiders have sold 20,794 shares of company stock valued at $3,102,206 over the last 90 days. 0.86% of the stock is owned by company insiders.

TE Connectivity Trading Up 1.2 %

Shares of TEL traded up $1.84 during trading hours on Friday, hitting $156.38. 1,185,249 shares of the stock traded hands, compared to its average volume of 1,861,097. The company has a current ratio of 1.51, a quick ratio of 0.92 and a debt-to-equity ratio of 0.23. TE Connectivity Ltd. has a 1-year low of $115.00 and a 1-year high of $159.98. The firm has a market capitalization of $47.89 billion, a PE ratio of 14.31, a price-to-earnings-growth ratio of 2.11 and a beta of 1.33. The business has a fifty day moving average of $151.23 and a 200-day moving average of $145.11.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.05. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the prior year, the firm posted $1.77 earnings per share. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. Analysts expect that TE Connectivity Ltd. will post 7.54 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the company. Robert W. Baird lifted their price target on TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday. Truist Financial boosted their price objective on TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a research report on Thursday. Jefferies Financial Group started coverage on TE Connectivity in a research report on Tuesday, April 9th. They set a “buy” rating and a $180.00 price objective on the stock. HSBC cut TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price objective on the stock. in a research report on Wednesday. Finally, The Goldman Sachs Group restated a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, TE Connectivity presently has an average rating of “Hold” and a consensus target price of $158.45.

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.