TE Connectivity (NYSE:TEL) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

TE Connectivity (NYSE:TEL) announced its quarterly earnings data on Wednesday. The electronics maker reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.05, Briefing.com reports. TE Connectivity had a net margin of 21.94% and a return on equity of 18.53%. The firm had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter in the previous year, the business posted $1.77 earnings per share. The business’s quarterly revenue was up .1% compared to the same quarter last year. TE Connectivity updated its Q4 2024 guidance to 1.940-1.940 EPS and its Q4 guidance to $1.94 EPS.

TE Connectivity Trading Up 1.2 %

NYSE TEL opened at $156.38 on Friday. The firm’s fifty day moving average price is $151.23 and its 200 day moving average price is $145.11. TE Connectivity has a 12 month low of $115.00 and a 12 month high of $159.98. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.51 and a quick ratio of 0.92. The company has a market capitalization of $47.89 billion, a price-to-earnings ratio of 14.31, a price-to-earnings-growth ratio of 2.11 and a beta of 1.33.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Jefferies Financial Group initiated coverage on shares of TE Connectivity in a research note on Tuesday, April 9th. They issued a “buy” rating and a $180.00 price target for the company. Bank of America boosted their target price on TE Connectivity from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Hsbc Global Res raised TE Connectivity to a “hold” rating in a research report on Wednesday. Wells Fargo & Company lowered their price objective on TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 25th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of TE Connectivity in a report on Monday, April 1st. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $158.45.

Insider Activity at TE Connectivity

In other TE Connectivity news, 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 transaction of $1,356,250.00. Following the transaction, the insider now owns 20,556 shares of the company’s stock, valued at $3,186,180. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Aaron Kyle Stucki sold 8,750 shares of the company’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 sale, the insider now directly owns 20,556 shares of the company’s stock, valued at approximately $3,186,180. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Shadrak W. Kroeger sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $149.86, for a total value of $749,300.00. Following the transaction, the insider now owns 25,976 shares in the company, valued at approximately $3,892,763.36. The disclosure for this sale can be found here. Insiders sold a total of 20,794 shares of company stock valued at $3,102,206 over the last ninety days. Insiders own 0.86% 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.