StockNews.com Initiates Coverage on TE Connectivity (NYSE:TEL)

Stock analysts at StockNews.com assumed coverage on shares of TE Connectivity (NYSE:TEL) in a research note issued to investors on Tuesday. The firm set a “buy” rating on the electronics maker’s stock.

Other equities research analysts have also recently issued reports about the stock. Citigroup started coverage on shares of TE Connectivity in a research note on Friday, January 5th. They set a “neutral” rating and a $146.00 price target on the stock. Stifel Nicolaus raised their target price on shares of TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Truist Financial upped their price target on shares of TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. cut their price target on shares of TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Finally, Jefferies Financial Group started coverage on shares of TE Connectivity in a research note on Tuesday, April 9th. They set a “buy” rating and a $180.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $153.50.

TE Connectivity Trading Down 1.4 %

Shares of TE Connectivity stock opened at $139.43 on Tuesday. The business has a 50 day moving average price of $142.56 and a 200 day moving average price of $136.62. The company has a market capitalization of $42.70 billion, a P/E ratio of 12.76, a P/E/G ratio of 2.09 and a beta of 1.39. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.92. TE Connectivity has a 1 year low of $115.00 and a 1 year high of $147.98.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.03. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.96 billion. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.65 earnings per share. Sell-side analysts anticipate that TE Connectivity will post 7.55 EPS for the current fiscal year.

Insider Buying and Selling at TE Connectivity

In other news, Director Mark Trudeau sold 7,044 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $141.49, for a total value of $996,655.56. Following the completion of the sale, the director now owns 5,917 shares of the company’s stock, valued at $837,196.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.86% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TEL. Norges Bank purchased a new stake in TE Connectivity during the 4th quarter worth $693,985,000. Massachusetts Financial Services Co. MA increased its position in shares of TE Connectivity by 2.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,632,809 shares of the electronics maker’s stock worth $650,910,000 after acquiring an additional 111,340 shares during the last quarter. Invesco Ltd. lifted its stake in shares of TE Connectivity by 3.5% in the third quarter. Invesco Ltd. now owns 4,572,117 shares of the electronics maker’s stock worth $564,794,000 after acquiring an additional 154,496 shares in the last quarter. Impax Asset Management Group plc boosted its holdings in TE Connectivity by 1.4% in 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 during the last quarter. Finally, Morgan Stanley grew its stake in TE Connectivity by 11.7% during the 3rd 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. 91.43% of the stock is owned by institutional investors and hedge funds.

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.