TE Connectivity (NYSE:TEL) Raised to Outperform at Wolfe Research

Wolfe Research upgraded shares of TE Connectivity (NYSE:TEL) from a peer perform rating to an outperform rating in a report issued on Thursday, MarketBeat Ratings reports.

A number of other research firms also recently issued reports on TEL. HSBC downgraded TE Connectivity from a buy rating to a hold rating and set a $162.00 price objective for the company. in a report on Wednesday, July 24th. Vertical Research initiated coverage on shares of TE Connectivity in a research report on Tuesday, July 23rd. They set a hold rating and a $155.00 price target for the company. Truist Financial upped their price objective on shares of TE Connectivity from $151.00 to $156.00 and gave the stock a hold rating in a report on Thursday, July 25th. Wells Fargo & Company decreased their target price on shares of TE Connectivity from $152.00 to $150.00 and set an equal weight rating for the company in a research note on Tuesday, June 25th. Finally, StockNews.com started coverage on TE Connectivity in a research note on Thursday. They issued a buy rating on the stock. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Hold and an average price target of $158.45.

TE Connectivity Trading Down 2.5 %

NYSE:TEL opened at $143.38 on Thursday. The company has a 50-day moving average price of $150.58 and a 200-day moving average price of $147.22. The stock has a market cap of $43.91 billion, a price-to-earnings ratio of 13.12, a P/E/G ratio of 2.00 and a beta of 1.33. The company has a current ratio of 1.51, a quick ratio of 0.99 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.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share for the quarter, beating 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 business had revenue of $4 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the previous year, the firm posted $1.77 EPS. The business’s revenue was up .1% on a year-over-year basis. Equities analysts predict that TE Connectivity will post 7.57 EPS for the current year.

Insider Buying and Selling

In other news, CFO Heath A. Mitts sold 59,700 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $154.70, for a total transaction of $9,235,590.00. Following the sale, the chief financial officer now owns 38,073 shares of the company’s stock, valued at approximately $5,889,893.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other TE Connectivity news, CFO Heath A. Mitts sold 59,700 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $154.70, for a total transaction of $9,235,590.00. Following the completion of the sale, the chief financial officer now directly owns 38,073 shares in the company, valued at approximately $5,889,893.10. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Robert J. Ott sold 2,913 shares of TE Connectivity stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total value of $450,320.67. Following the completion of the sale, the senior vice president now directly owns 25,504 shares of the company’s stock, valued at approximately $3,942,663.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,363 shares of company stock worth $11,042,161. 0.86% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TE Connectivity

Institutional investors have recently made changes to their positions in the business. JFS Wealth Advisors LLC increased its holdings in TE Connectivity by 97.8% during the fourth quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock valued at $26,000 after buying an additional 91 shares during the last quarter. Salem Investment Counselors Inc. increased its stake in shares of TE Connectivity by 112.4% in the 1st quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock worth $27,000 after purchasing an additional 100 shares in the last quarter. Versant Capital Management Inc raised its holdings in TE Connectivity by 209.8% in the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 128 shares during the period. Olistico Wealth LLC bought a new stake in TE Connectivity during the second quarter valued at about $30,000. Finally, Godsey & Gibb Inc. increased its position in TE Connectivity by 103.6% in the first quarter. Godsey & Gibb Inc. now owns 224 shares of the electronics maker’s stock worth $33,000 after buying an additional 114 shares in 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.