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

StockNews.com began coverage on shares of TE Connectivity (NYSE:TEL) in a report issued on Sunday morning. The firm issued a buy rating on the electronics maker’s stock.

A number of other brokerages have also recently issued reports on TEL. Wells Fargo & Company lowered their price objective on TE Connectivity from $152.00 to $150.00 and set an equal weight rating on the stock in a research note on Tuesday, June 25th. JPMorgan Chase & Co. reduced their target price on TE Connectivity from $170.00 to $169.00 and set a neutral rating for the company in a report on Thursday, April 25th. Robert W. Baird increased their price target on shares of TE Connectivity from $162.00 to $170.00 and gave the stock an outperform rating in a report on Thursday, July 25th. HSBC cut shares of TE Connectivity from a buy rating to a hold rating and set a $162.00 price objective for the company. in a research note on Wednesday, July 24th. Finally, Hsbc Global Res upgraded shares of TE Connectivity to a hold rating in a research note on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and an average price target of $158.45.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $142.91 on Friday. The company has a current ratio of 1.51, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23. The stock has a market cap of $43.76 billion, a PE ratio of 13.08, a price-to-earnings-growth ratio of 1.98 and a beta of 1.33. The stock’s fifty day simple moving average is $151.14 and its two-hundred day simple moving average is $146.09. TE Connectivity has a 1-year low of $115.00 and a 1-year high of $159.98.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.05. The company had revenue of $4 billion during 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%. TE Connectivity’s revenue was up .1% on a year-over-year basis. During the same period last year, the business posted $1.77 earnings per share. As a group, analysts forecast that TE Connectivity will post 7.56 EPS for the current fiscal year.

Insider Activity

In other news, insider Terrence R. Curtin 218,500 shares of the firm’s stock in a transaction dated Monday, July 29th. The was disclosed in a filing with the SEC, which is accessible through this link. In other TE Connectivity news, SVP Robert J. Ott sold 2,913 shares of TE Connectivity stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 25,504 shares of the company’s stock, valued at $3,942,663.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Terrence R. Curtin 218,500 shares of TE Connectivity stock in a transaction on Monday, July 29th. The disclosure for this trade can be found here. In the last quarter, insiders have sold 76,363 shares of company stock worth $11,791,461. 0.86% of the stock is currently owned by corporate insiders.

Institutional Trading of TE Connectivity

Hedge funds have recently added to or reduced their stakes in the business. Simplicity Wealth LLC increased its holdings in shares of TE Connectivity by 2.7% in the second quarter. Simplicity Wealth LLC now owns 2,509 shares of the electronics maker’s stock worth $377,000 after buying an additional 67 shares during the period. Silvercrest Asset Management Group LLC boosted its stake in shares of TE Connectivity by 2.3% during the first quarter. Silvercrest Asset Management Group LLC now owns 2,977 shares of the electronics maker’s stock valued at $432,000 after purchasing an additional 68 shares during the period. Dorsey & Whitney Trust CO LLC grew its holdings in shares of TE Connectivity by 3.9% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,835 shares of the electronics maker’s stock worth $267,000 after purchasing an additional 69 shares during the last quarter. Manchester Capital Management LLC raised its holdings in TE Connectivity by 5.4% during 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 last quarter. Finally, Lee Danner & Bass Inc. boosted its position in TE Connectivity by 2.5% during the 4th quarter. Lee Danner & Bass Inc. now owns 3,085 shares of the electronics maker’s stock valued at $433,000 after buying an additional 74 shares during the period. 91.43% of the stock is owned by institutional investors.

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.