TE Connectivity Ltd. (NYSE:TEL) Given Consensus Rating of “Hold” by Brokerages

Shares of TE Connectivity Ltd. (NYSE:TEL) have been given a consensus recommendation of “Hold” by the twelve brokerages that are currently covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $167.00.

Several research analysts have weighed in on TEL shares. StockNews.com upgraded TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. Robert W. Baird boosted their price objective on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target for the company in a research report on Thursday, January 23rd. Finally, Truist Financial lowered their price objective on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $151.13, for a total value of $587,744.57. Following the sale, the insider now owns 25,976 shares in the company, valued at $3,925,752.88. This trade represents a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Algert Global LLC acquired a new position in TE Connectivity in the 2nd quarter worth about $496,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of TE Connectivity by 14.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,168 shares of the electronics maker’s stock valued at $1,228,000 after buying an additional 1,057 shares during the period. Cetera Investment Advisers raised its holdings in TE Connectivity by 15.8% in the 2nd quarter. Cetera Investment Advisers now owns 47,403 shares of the electronics maker’s stock valued at $7,131,000 after buying an additional 6,481 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in TE Connectivity during the 2nd quarter worth approximately $4,112,000. Finally, Czech National Bank grew its holdings in TE Connectivity by 6.1% during the 3rd quarter. Czech National Bank now owns 61,911 shares of the electronics maker’s stock worth $9,348,000 after acquiring an additional 3,556 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Stock Performance

Shares of TEL stock opened at $146.95 on Monday. TE Connectivity has a 52 week low of $137.61 and a 52 week high of $159.98. The company has a market capitalization of $43.84 billion, a price-to-earnings ratio of 23.47, a PEG ratio of 2.03 and a beta of 1.32. The company has a 50-day simple moving average of $147.13 and a 200 day simple moving average of $148.42. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. The company had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business’s revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.84 earnings per share. On average, sell-side analysts predict that TE Connectivity will post 7.96 earnings per share for the current year.

TE Connectivity announced that its Board of Directors has authorized a stock repurchase program on Wednesday, October 30th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the electronics maker to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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.