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 Price Performance

TEL stock traded down $0.14 during midday trading on Friday, hitting $155.06. 1,144,358 shares of the stock were exchanged, compared to its average volume of 1,838,622. The stock's 50-day moving average price is $147.90 and its 200-day moving average price is $148.71. The stock has a market cap of $47.13 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 fifty-two week low of $123.79 and a fifty-two 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.

TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, hitting analysts' consensus estimates of $1.95. The company had revenue of $4.07 billion during the quarter, compared to analysts' expectations of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The business's revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.78 earnings per share. Research analysts predict that TE Connectivity Ltd. will post 8.13 earnings per share for the current year.

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

Institutional Trading of TE Connectivity

Hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc lifted its holdings 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 during the last quarter. Olistico Wealth LLC acquired a new stake in TE Connectivity in the 2nd quarter valued at approximately $30,000. Armstrong Advisory Group Inc. increased its position in TE Connectivity by 208.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker's stock valued at $34,000 after acquiring an additional 150 shares during the period. Bank & Trust Co acquired a new stake in TE Connectivity in the 2nd quarter valued at approximately $35,000. Finally, Wolff Wiese Magana LLC increased its position in TE Connectivity by 2,450.0% in 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. Institutional investors own 91.43% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Vertical Research assumed coverage on TE Connectivity in a research report on Tuesday, July 23rd. They set a "hold" rating and a $155.00 price target for the company. Robert W. Baird boosted their price target on TE Connectivity from $162.00 to $170.00 and gave the company an "outperform" rating in a research report on Thursday, July 25th. Truist Financial increased their target price on TE Connectivity from $151.00 to $156.00 and gave the company a "hold" rating in a research note on Thursday, July 25th. Wolfe Research upgraded TE Connectivity from a "peer perform" rating to an "outperform" rating in a research note on Thursday, September 5th. Finally, HSBC lowered TE Connectivity from a "hold" rating to a "reduce" rating and set a $137.00 price objective for the company. in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $159.55.

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.