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

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

Several other brokerages have also recently commented on TEL. Hsbc Global Res upgraded shares of TE Connectivity to a “hold” rating in a report on Wednesday, July 24th. Robert W. Baird raised their price objective on TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Wells Fargo & Company dropped their target price on TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 25th. Truist Financial raised their price target on TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Finally, Vertical Research assumed coverage on TE Connectivity in a report on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $158.45.

TE Connectivity Price Performance

Shares of TEL stock opened at $152.71 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.23. TE Connectivity has a 12-month low of $115.00 and a 12-month high of $159.98. The firm has a fifty day moving average of $150.50 and a 200-day moving average of $146.54. The firm has a market capitalization of $46.41 billion, a price-to-earnings ratio of 13.97, a price-to-earnings-growth ratio of 2.03 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.05. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. The company had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the prior year, the company earned $1.77 earnings per share. The company’s revenue for the quarter was up .1% compared to the same quarter last year. On average, equities research analysts forecast that TE Connectivity will post 7.57 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Aaron Kyle Stucki sold 8,750 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $155.00, for a total transaction of $1,356,250.00. Following the completion of the sale, the insider now directly owns 20,556 shares in the company, valued at approximately $3,186,180. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, SVP Robert J. Ott sold 2,913 shares of the company’s 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 completion of the transaction, the senior vice president now directly owns 25,504 shares in the company, valued at approximately $3,942,663.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Aaron Kyle Stucki sold 8,750 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $155.00, for a total transaction of $1,356,250.00. Following the completion of the sale, the insider now owns 20,556 shares in the company, valued at approximately $3,186,180. The disclosure for this sale can be found here. Insiders have sold 76,363 shares of company stock valued at $11,791,461 over the last 90 days. 0.86% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TE Connectivity

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in shares of TE Connectivity by 54.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker’s stock valued at $2,265,218,000 after buying an additional 5,526,230 shares during the period. Norges Bank acquired a new position in TE Connectivity in the 4th quarter valued at approximately $693,985,000. Ameriprise Financial Inc. raised its stake in shares of TE Connectivity by 26.2% during the second quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock valued at $944,791,000 after acquiring an additional 1,304,199 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of TE Connectivity by 150.9% during the fourth 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 during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of TE Connectivity by 1,000.5% in the first quarter. Assenagon Asset Management S.A. now owns 1,335,477 shares of the electronics maker’s stock worth $193,965,000 after purchasing an additional 1,214,122 shares during the last quarter. Institutional investors own 91.43% of the company’s stock.

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.