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

StockNews.com initiated coverage on shares of TE Connectivity (NYSE:TEL) in a research report sent to investors on Sunday morning. The brokerage issued a buy rating on the electronics maker’s stock.

Several other research analysts have also recently issued reports on TEL. Wolfe Research upgraded shares of TE Connectivity from a peer perform rating to an outperform rating in a report on Thursday, September 5th. Robert W. Baird increased their price objective on shares of TE Connectivity from $162.00 to $170.00 and gave the company an outperform rating in a research note on Thursday, July 25th. Truist Financial lifted their price objective on shares of TE Connectivity from $151.00 to $156.00 and gave the company a hold rating in a report on Thursday, July 25th. Bank of America upped their target price on TE Connectivity from $165.00 to $170.00 and gave the stock a buy rating in a report on Thursday, July 18th. Finally, HSBC downgraded TE Connectivity from a buy rating to a hold rating and set a $162.00 price target on the stock. in a report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, TE Connectivity currently has a consensus rating of Hold and a consensus price target of $160.42.

TE Connectivity Stock Down 2.3 %

Shares of NYSE TEL opened at $147.46 on Friday. TE Connectivity has a 52-week low of $115.00 and a 52-week high of $159.98. The firm has a market capitalization of $44.82 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 2.05 and a beta of 1.33. The stock has a 50 day moving average price of $148.75 and a 200 day moving average price of $147.90. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.51.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.05. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. The business had revenue of $4 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period in the previous year, the company posted $1.77 EPS. TE Connectivity’s revenue was up .1% on a year-over-year basis. Sell-side analysts expect that TE Connectivity will post 7.57 earnings per share for the current year.

Insider Transactions at TE Connectivity

In other news, CFO Heath A. Mitts sold 59,700 shares of TE Connectivity stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $154.70, for a total transaction of $9,235,590.00. Following the completion of the sale, the chief financial officer now directly owns 38,073 shares in the company, valued at $5,889,893.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Heath A. Mitts sold 59,700 shares of the 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 transaction, the chief financial officer now directly owns 38,073 shares of the company’s stock, valued at $5,889,893.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Aaron Kyle Stucki sold 8,750 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $155.00, for a total value of $1,356,250.00. Following the completion of the transaction, the insider now owns 20,556 shares of the company’s stock, valued at $3,186,180. The disclosure for this sale can be found here. Insiders sold 71,363 shares of company stock valued at $11,042,161 in the last quarter. 0.86% of the stock is currently owned by corporate insiders.

Institutional Trading of TE Connectivity

Several large investors have recently made changes to their positions in TEL. Price T Rowe Associates Inc. MD raised its holdings in shares of TE Connectivity by 54.9% during 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 purchasing an additional 5,526,230 shares during the last quarter. Ameriprise Financial Inc. grew its position in TE Connectivity by 26.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock worth $944,791,000 after purchasing an additional 1,304,199 shares during the period. Wellington Management Group LLP grew its position 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 worth $510,015,000 after purchasing an additional 403,750 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of TE Connectivity by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,118,636 shares of the electronics maker’s stock valued at $469,113,000 after buying an additional 223,842 shares during the last quarter. Finally, Pzena Investment Management LLC lifted its holdings in shares of TE Connectivity by 9.3% in the 1st quarter. Pzena Investment Management LLC now owns 2,798,532 shares of the electronics maker’s stock valued at $406,459,000 after buying an additional 238,370 shares during the period. 91.43% of the stock is owned by hedge funds and other institutional investors.

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.