StockNews.com Initiates Coverage on TE Connectivity (NYSE:TEL)

Investment analysts at StockNews.com initiated coverage on shares of TE Connectivity (NYSE:TEL) in a research report issued to clients and investors on Sunday. The brokerage set a “buy” rating on the electronics maker’s stock.

A number of other brokerages have also recently issued reports on TEL. Robert W. Baird raised their price objective on shares of TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Wells Fargo & Company reduced their price objective on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a research note on Friday, September 20th. HSBC lowered shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 target price on the stock. in a report on Wednesday, July 24th. Truist Financial increased their target price 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. Finally, Hsbc Global Res upgraded shares of TE Connectivity to a “hold” rating in a report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $158.73.

TE Connectivity Price Performance

Shares of TE Connectivity stock opened at $150.99 on Friday. TE Connectivity has a 1-year low of $115.00 and a 1-year high of $159.98. The company has a current ratio of 1.51, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23. The firm’s 50-day moving average price is $148.82 and its two-hundred day moving average price is $147.84. The stock has a market capitalization of $46.24 billion, a price-to-earnings ratio of 13.81, a P/E/G ratio of 2.02 and a beta of 1.33.

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

Insider Activity at TE Connectivity

In other news, insider Aaron Kyle Stucki sold 8,750 shares of the firm’s stock in a transaction that occurred on 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 $3,186,180. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP Robert J. Ott sold 2,913 shares of the firm’s stock in a transaction that occurred 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 $3,942,663.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 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 $3,186,180. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,363 shares of company stock valued at $11,042,161. Insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On TE Connectivity

A number of large investors have recently made changes to their positions in TEL. Price T Rowe Associates Inc. MD increased its stake in shares of TE Connectivity by 54.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker’s stock worth $2,265,218,000 after purchasing an additional 5,526,230 shares during the period. Ameriprise Financial Inc. increased its stake in TE Connectivity by 26.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock worth $944,791,000 after acquiring an additional 1,304,199 shares during the period. First Trust Advisors LP increased its stake in TE Connectivity by 150.9% during the 4th quarter. First Trust Advisors LP now owns 2,143,423 shares of the electronics maker’s stock worth $301,151,000 after acquiring an additional 1,289,230 shares during the period. Point72 Asset Management L.P. increased its stake in TE Connectivity by 238.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 719,354 shares of the electronics maker’s stock worth $108,212,000 after acquiring an additional 506,754 shares during the period. Finally, Wellington Management Group LLP increased its stake in TE Connectivity by 12.5% during the 4th quarter. Wellington Management Group LLP now owns 3,630,003 shares of the electronics maker’s stock worth $510,015,000 after acquiring an additional 403,750 shares during the period. 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.