GAMMA Investing LLC Makes New $156,000 Investment in TE Connectivity Ltd. (NYSE:TEL)

GAMMA Investing LLC purchased a new position in TE Connectivity Ltd. (NYSE:TEL) in the fourth quarter, Holdings Channel.com reports. The firm purchased 1,095 shares of the electronics maker’s stock, valued at approximately $156,000.

A number of other institutional investors have also bought and sold shares of the business. Invesco Ltd. increased its stake in TE Connectivity by 3.5% in the 3rd quarter. Invesco Ltd. now owns 4,572,117 shares of the electronics maker’s stock worth $564,794,000 after buying an additional 154,496 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of TE Connectivity by 3.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,521,469 shares of the electronics maker’s stock valued at $558,537,000 after purchasing an additional 145,605 shares in the last quarter. Impax Asset Management Group plc grew its position in shares of TE Connectivity by 1.4% during the fourth quarter. Impax Asset Management Group plc now owns 3,774,896 shares of the electronics maker’s stock valued at $529,798,000 after purchasing an additional 51,866 shares in the last quarter. Morgan Stanley grew its position in shares of TE Connectivity by 11.7% during the third quarter. Morgan Stanley now owns 3,738,943 shares of the electronics maker’s stock valued at $461,872,000 after purchasing an additional 390,723 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of TE Connectivity by 3.8% during the third quarter. Bank of New York Mellon Corp now owns 3,006,425 shares of the electronics maker’s stock valued at $371,384,000 after purchasing an additional 110,510 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. StockNews.com assumed coverage on TE Connectivity in a research report on Monday, April 22nd. They set a “buy” rating for the company. The Goldman Sachs Group restated a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. Truist Financial increased their price target on shares of TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a report on Thursday, January 25th. Stifel Nicolaus increased their price target on shares of TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a report on Thursday, January 25th. Finally, Citigroup initiated coverage on shares of TE Connectivity in a report on Friday, January 5th. They issued a “neutral” rating and a $146.00 price target for the company. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, TE Connectivity presently has a consensus rating of “Moderate Buy” and an average target price of $153.50.

Insider Transactions at TE Connectivity

In other news, insider Steven T. Merkt sold 99,777 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $144.00, for a total transaction of $14,367,888.00. Following the transaction, the insider now directly owns 30,459 shares of the company’s stock, valued at $4,386,096. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.86% of the company’s stock.

TE Connectivity Stock Down 0.2 %

Shares of NYSE TEL opened at $140.21 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 1.16. The company has a market cap of $43.58 billion, a P/E ratio of 12.83, a PEG ratio of 2.06 and a beta of 1.39. TE Connectivity Ltd. has a 1 year low of $115.00 and a 1 year high of $147.98. The firm has a 50-day simple moving average of $142.55 and a two-hundred day simple moving average of $136.17.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.03. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.96 billion. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.65 earnings per share. Research analysts anticipate that TE Connectivity Ltd. will post 7.56 earnings per share for the current year.

TE Connectivity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s payout ratio is currently 21.59%.

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.