TE Connectivity (NYSE:TEL) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of TE Connectivity (NYSE:TEL) in a research report released on Monday. The brokerage issued a buy rating on the electronics maker’s stock.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. boosted their price target on shares of TE Connectivity from $169.00 to $170.00 and gave the company a neutral rating in a report on Thursday, April 11th. Robert W. Baird lifted their price objective on shares of TE Connectivity from $147.00 to $155.00 and gave the company an outperform rating in a research note on Thursday, January 25th. Truist Financial lifted their price objective on shares of TE Connectivity from $148.00 to $153.00 and gave the company a hold rating in a research note on Thursday, January 25th. Citigroup began coverage on shares of TE Connectivity in a research note on Friday, January 5th. They set a neutral rating and a $146.00 price objective on the stock. Finally, Stifel Nicolaus lifted their price objective on shares of TE Connectivity from $140.00 to $145.00 and gave the company a hold rating in a research note on Thursday, January 25th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, TE Connectivity currently has an average rating of Moderate Buy and a consensus price target of $153.30.

TE Connectivity Stock Performance

Shares of TEL opened at $143.77 on Monday. TE Connectivity has a 1 year low of $115.00 and a 1 year high of $147.98. The company has a market cap of $44.68 billion, a price-to-earnings ratio of 13.64, a price-to-earnings-growth ratio of 2.00 and a beta of 1.39. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.16 and a current ratio of 1.86. The firm has a fifty day moving average of $142.66 and a 200-day moving average of $135.86.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.13. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. The company had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same quarter in the previous year, the company posted $1.53 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, equities analysts anticipate that TE Connectivity will post 7.59 earnings per share for the current year.

TE Connectivity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.81%. The ex-dividend date is Friday, February 21st. TE Connectivity’s dividend payout ratio (DPR) is presently 22.39%.

Insiders Place Their Bets

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $144.00, for a total value of $14,367,888.00. Following the sale, the insider now directly owns 30,459 shares in the company, valued at $4,386,096. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.86% of the stock is owned by company insiders.

Hedge Funds Weigh In On TE Connectivity

A number of institutional investors have recently bought and sold shares of TEL. Norges Bank purchased a new position in TE Connectivity in the 4th quarter worth about $693,985,000. Qube Research & Technologies Ltd purchased a new position in TE Connectivity in the 3rd quarter worth about $165,640,000. First Trust Advisors LP increased its stake 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 in the last quarter. Assenagon Asset Management S.A. increased its stake in TE Connectivity by 273.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 651,291 shares of the electronics maker’s stock worth $80,454,000 after purchasing an additional 476,929 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in 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 valued at $510,015,000 after acquiring an additional 403,750 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

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.