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

StockNews.com assumed coverage on shares of TE Connectivity (NYSE:TEL) in a research note published on Tuesday. The firm issued a buy rating on the electronics maker’s stock.

TEL has been the subject of several other reports. Jefferies Financial Group began coverage on shares of TE Connectivity in a research note on Tuesday, April 9th. They set a buy rating and a $180.00 target price for the company. The Goldman Sachs Group reissued a buy rating on shares of TE Connectivity in a research note on Monday, April 1st. JPMorgan Chase & Co. dropped their target price 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, Robert W. Baird cut their price target on TE Connectivity from $159.00 to $158.00 and set an outperform rating on the stock in a research note on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $155.13.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $148.71 on Tuesday. The firm’s 50 day moving average price is $147.36 and its 200-day moving average price is $143.01. The company has a quick ratio of 0.92, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $45.54 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 2.20 and a beta of 1.35. TE Connectivity has a twelve month low of $115.00 and a twelve month high of $153.54.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.03. The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.96 billion. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. TE Connectivity’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.65 earnings per share. Equities research analysts expect that TE Connectivity will post 7.5 EPS for the current year.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 5,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $149.86, for a total transaction of $749,300.00. Following the sale, the insider now owns 25,976 shares in the company, valued at approximately $3,892,763.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Mark Trudeau sold 7,044 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $141.49, for a total transaction of $996,655.56. Following the sale, the director now owns 5,917 shares in the company, valued at $837,196.33. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Shadrak W. Kroeger sold 5,000 shares of TE Connectivity stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $149.86, for a total value of $749,300.00. Following the completion of the transaction, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,892,763.36. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Silvercrest Asset Management Group LLC boosted its stake in TE Connectivity by 2.3% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 2,977 shares of the electronics maker’s stock worth $432,000 after purchasing an additional 68 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of TE Connectivity by 3.9% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,835 shares of the electronics maker’s stock worth $267,000 after acquiring an additional 69 shares during the last quarter. Manchester Capital Management LLC raised its holdings in shares of TE Connectivity by 5.4% in the 1st quarter. Manchester Capital Management LLC now owns 1,427 shares of the electronics maker’s stock valued at $207,000 after buying an additional 73 shares during the period. Lee Danner & Bass Inc. lifted its position in shares of TE Connectivity by 2.5% during the fourth quarter. Lee Danner & Bass Inc. now owns 3,085 shares of the electronics maker’s stock worth $433,000 after purchasing an additional 74 shares in the last quarter. Finally, Miracle Mile Advisors LLC lifted its holdings in TE Connectivity by 0.6% during the 1st quarter. Miracle Mile Advisors LLC now owns 13,326 shares of the electronics maker’s stock worth $1,935,000 after buying an additional 75 shares in the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

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.