TE Connectivity Ltd. (NYSE:TEL) Position Reduced by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC decreased its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 2.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,817 shares of the electronics maker’s stock after selling 77 shares during the period. Gateway Investment Advisers LLC’s holdings in TE Connectivity were worth $425,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its position in TE Connectivity by 25.3% during the 1st quarter. Russell Investments Group Ltd. now owns 287,942 shares of the electronics maker’s stock worth $41,811,000 after purchasing an additional 58,219 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of 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 valued at $52,456,000 after purchasing an additional 52,824 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of 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 valued at $46,537,000 after purchasing an additional 135,548 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in TE Connectivity during the 2nd quarter worth $15,847,000. Finally, Nomura Holdings Inc. acquired a new position in TE Connectivity during the 4th quarter worth $879,000. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Performance

Shares of TEL opened at $147.51 on Monday. The firm has a 50-day moving average of $147.59 and a 200-day moving average of $148.12. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.51 and a quick ratio of 0.99. The company has a market cap of $44.83 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 1.89 and a beta of 1.33. TE Connectivity Ltd. has a one year low of $115.00 and a one year high of $159.98.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 EPS for the quarter, beating the consensus estimate of $1.86 by $0.05. The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $4.01 billion. TE Connectivity had a net margin of 21.94% and a return on equity of 18.53%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same period last year, the firm earned $1.77 EPS. As a group, equities analysts forecast that TE Connectivity Ltd. will post 7.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. HSBC lowered shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price objective for the company. in a research report on Wednesday, July 24th. Wells Fargo & Company lowered their target price on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a research note on Friday, September 20th. Truist Financial upped their target price on shares of TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. The Goldman Sachs Group lowered their target price on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Finally, Wolfe Research raised shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $161.82.

Insiders Place Their Bets

In other news, CFO Heath A. Mitts sold 59,700 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $154.70, for a total value of $9,235,590.00. Following the transaction, the chief financial officer now owns 38,073 shares in the company, valued at approximately $5,889,893.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other TE Connectivity news, SVP Robert J. Ott sold 2,913 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total value of $450,320.67. Following the transaction, the senior vice president now directly owns 25,504 shares in the company, valued at $3,942,663.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Heath A. Mitts sold 59,700 shares of TE Connectivity stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $154.70, for a total value of $9,235,590.00. Following the completion of the sale, the chief financial officer now directly owns 38,073 shares of the company’s stock, valued at approximately $5,889,893.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.86% of the company’s stock.

About TE Connectivity

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.