TE Connectivity (NYSE:TEL) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of TE Connectivity (NYSE:TEL) in a research note issued to investors on Tuesday. The firm issued a buy rating on the electronics maker’s stock.

Several other research analysts also recently weighed in on TEL. Wells Fargo & Company cut their target price on shares of TE Connectivity from $155.00 to $153.00 and set an equal weight rating for the company in a research note on Friday, September 20th. Bank of America reduced their price objective on shares of TE Connectivity from $173.00 to $165.00 and set a buy rating on the stock in a research note on Wednesday, October 9th. Robert W. Baird boosted their price target on TE Connectivity from $162.00 to $170.00 and gave the company an outperform rating in a report on Thursday, July 25th. Truist Financial upped their target price 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, Hsbc Global Res raised TE Connectivity to a hold rating in a research note on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of Hold and a consensus target price of $161.82.

TE Connectivity Stock Down 1.4 %

TEL stock opened at $146.29 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.51 and a quick ratio of 0.99. The company’s 50 day simple moving average is $147.75 and its 200-day simple moving average is $148.15. TE Connectivity has a 12 month low of $115.00 and a 12 month high of $159.98. The firm has a market capitalization of $44.46 billion, a PE ratio of 13.16, a P/E/G ratio of 1.89 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last announced its 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. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. The firm had revenue of $4 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter in the prior year, the firm earned $1.77 EPS. TE Connectivity’s quarterly revenue was up .1% on a year-over-year basis. Equities analysts expect that TE Connectivity will post 7.57 earnings per share for the current fiscal year.

Insider Transactions at TE Connectivity

In related news, SVP Robert J. Ott sold 2,913 shares of the firm’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 value of $450,320.67. Following the transaction, the senior vice president now owns 25,504 shares in the company, valued at approximately $3,942,663.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, SVP Robert J. Ott sold 2,913 shares of the stock in a transaction on Wednesday, July 31st. The shares were 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 owns 25,504 shares of the company’s stock, valued at $3,942,663.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Heath A. Mitts sold 59,700 shares of the firm’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 transaction, the chief financial officer now directly owns 38,073 shares in the company, valued at approximately $5,889,893.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On TE Connectivity

Large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. boosted its holdings in TE Connectivity by 25.3% in the 1st quarter. Russell Investments Group Ltd. now owns 287,942 shares of the electronics maker’s stock worth $41,811,000 after acquiring an additional 58,219 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of TE Connectivity by 17.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 361,166 shares of the electronics maker’s stock valued at $52,456,000 after purchasing an additional 52,824 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its holdings in TE Connectivity by 72.8% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,687 shares of the electronics maker’s stock valued at $46,537,000 after purchasing an additional 135,548 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in TE Connectivity during the 2nd quarter worth $15,847,000. Finally, Nomura Holdings Inc. acquired a new position in TE Connectivity in the 4th quarter worth $879,000. Institutional investors and hedge funds 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.