GAM Holding AG Buys Shares of 60,719 TE Connectivity Ltd. (NYSE:TEL)

GAM Holding AG bought a new position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 60,719 shares of the electronics maker's stock, valued at approximately $8,681,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nordea Investment Management AB purchased a new stake in shares of TE Connectivity in the 4th quarter valued at $149,211,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of TE Connectivity by 2,330.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 753,572 shares of the electronics maker's stock valued at $107,738,000 after purchasing an additional 722,565 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of TE Connectivity by 31.1% in the 3rd quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker's stock valued at $445,603,000 after purchasing an additional 712,228 shares in the last quarter. EdgePoint Investment Group Inc. boosted its stake in shares of TE Connectivity by 26.0% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker's stock valued at $508,481,000 after purchasing an additional 694,917 shares in the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in shares of TE Connectivity in the 4th quarter valued at $46,675,000. Institutional investors own 91.43% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Hsbc Global Res raised shares of TE Connectivity from a "moderate sell" rating to a "hold" rating in a research report on Thursday, January 23rd. Truist Financial dropped their price target on shares of TE Connectivity from $165.00 to $163.00 and set a "hold" rating for the company in a research report on Thursday, January 23rd. Robert W. Baird increased their price target on shares of TE Connectivity from $162.00 to $168.00 and gave the company an "outperform" rating in a research report on Thursday, January 23rd. Bank of America increased their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. Finally, Wells Fargo & Company increased their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the company an "equal weight" rating in a research report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $167.00.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the business's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $151.13, for a total transaction of $587,744.57. Following the completion of the sale, the insider now directly owns 25,976 shares of the company's stock, valued at approximately $3,925,752.88. The trade was a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.90% of the company's stock.

TE Connectivity Price Performance

TEL traded down $1.23 during trading hours on Friday, hitting $154.55. The company's stock had a trading volume of 1,577,354 shares, compared to its average volume of 1,636,413. The business's 50-day moving average price is $147.20 and its 200-day moving average price is $148.40. TE Connectivity Ltd. has a 12 month low of $137.61 and a 12 month high of $159.98. The stock has a market cap of $46.11 billion, a price-to-earnings ratio of 24.69, a P/E/G ratio of 2.12 and a beta of 1.32. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company had revenue of $3.84 billion for the quarter, compared to analysts' expectations of $3.92 billion. During the same quarter in the previous year, the business posted $1.84 earnings per share. TE Connectivity's quarterly revenue was up .1% on a year-over-year basis. Sell-side analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity announced that its Board of Directors has initiated a share buyback plan on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the electronics maker to purchase up to 5.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

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.