Gabelli Funds LLC Has $21.92 Million Stake in TE Connectivity Ltd. (NYSE:TEL)

Gabelli Funds LLC lowered its holdings in TE Connectivity Ltd. (NYSE:TEL) by 1.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 145,700 shares of the electronics maker’s stock after selling 2,200 shares during the period. Gabelli Funds LLC’s holdings in TE Connectivity were worth $21,918,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TEL. Price T Rowe Associates Inc. MD increased its stake in shares of TE Connectivity by 54.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker’s stock worth $2,265,218,000 after acquiring an additional 5,526,230 shares during the last quarter. First Trust Advisors LP increased its position in TE Connectivity by 150.9% in the 4th quarter. First Trust Advisors LP now owns 2,143,423 shares of the electronics maker’s stock worth $301,151,000 after purchasing an additional 1,289,230 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of TE Connectivity by 12.5% during the 4th quarter. Wellington Management Group LLP now owns 3,630,003 shares of the electronics maker’s stock worth $510,015,000 after purchasing an additional 403,750 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of TE Connectivity by 698.8% during the 1st quarter. Los Angeles Capital Management LLC now owns 305,610 shares of the electronics maker’s stock valued at $44,387,000 after buying an additional 267,350 shares during the last quarter. Finally, Axiom Investors LLC DE increased its holdings in TE Connectivity by 37.0% in the fourth quarter. Axiom Investors LLC DE now owns 898,598 shares of the electronics maker’s stock worth $126,253,000 after buying an additional 242,492 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

Insider Activity at TE Connectivity

In other TE Connectivity news, SVP Robert J. Ott sold 2,913 shares of TE Connectivity stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total transaction of $450,320.67. Following the sale, the senior vice president now owns 25,504 shares in the company, valued at $3,942,663.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other TE Connectivity news, SVP Robert J. Ott sold 2,913 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total transaction of $450,320.67. Following the completion of the transaction, the senior vice president now owns 25,504 shares in the company, valued at $3,942,663.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Heath A. Mitts sold 59,700 shares of the company’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 completion of the sale, the chief financial officer now owns 38,073 shares in the company, valued at $5,889,893.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,363 shares of company stock worth $11,042,161. 0.86% of the stock is owned by corporate insiders.

TE Connectivity Stock Performance

Shares of NYSE TEL opened at $148.11 on Monday. TE Connectivity Ltd. has a 12 month low of $115.00 and a 12 month high of $159.98. The company has a market cap of $45.36 billion, a P/E ratio of 13.55, a P/E/G ratio of 1.98 and a beta of 1.33. The business’s 50 day moving average is $149.59 and its two-hundred day moving average is $147.49. The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.23.

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

Analysts Set New Price Targets

Several research firms have commented on TEL. Robert W. Baird boosted their target price on shares of TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Vertical Research began coverage on shares of TE Connectivity in a report on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 price objective for the company. StockNews.com assumed coverage on TE Connectivity in a report on Saturday. They set a “buy” rating on the stock. Truist Financial upped their price target on TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Finally, Hsbc Global Res raised TE Connectivity to a “hold” rating in a report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, TE Connectivity presently has a consensus rating of “Hold” and an average target price of $158.73.

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.