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

Shares of TE Connectivity Ltd. (NYSE:TEL) have received an average rating of “Hold” from the thirteen brokerages that are currently covering the company, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $162.27.

A number of equities research analysts have issued reports on the stock. Wolfe Research upgraded shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. Wells Fargo & Company decreased their target price on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a report on Friday, September 20th. Hsbc Global Res upgraded TE Connectivity to a “hold” rating in a report on Wednesday, July 24th. Truist Financial lifted their price objective 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, StockNews.com assumed coverage on shares of TE Connectivity in a research note on Sunday, September 29th. They set a “buy” rating on the stock.

Insider Activity

In related news, CFO Heath A. Mitts sold 59,700 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $154.70, for a total value of $9,235,590.00. Following the completion of the sale, the chief financial officer now owns 38,073 shares in the company, valued at $5,889,893.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other TE Connectivity news, SVP Robert J. Ott sold 2,913 shares of TE Connectivity 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 transaction, the senior vice president now directly owns 25,504 shares in the company, valued at approximately $3,942,663.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Heath A. Mitts sold 59,700 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $154.70, for a total value of $9,235,590.00. Following the sale, the chief financial officer now owns 38,073 shares of the company’s stock, valued at $5,889,893.10. This trade represents a 0.00 % decrease in their position. 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. 0.86% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TE Connectivity

Institutional investors have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. raised its holdings in TE Connectivity by 28.1% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 17,528 shares of the electronics maker’s stock worth $2,463,000 after purchasing an additional 3,845 shares in the last quarter. Bank of Nova Scotia lifted its holdings in shares of TE Connectivity by 40.8% in the 4th quarter. Bank of Nova Scotia now owns 38,671 shares of the electronics maker’s stock valued at $5,433,000 after buying an additional 11,206 shares during the period. California State Teachers Retirement System boosted its stake in shares of TE Connectivity by 7.5% in the fourth quarter. California State Teachers Retirement System now owns 460,647 shares of the electronics maker’s stock valued at $64,721,000 after buying an additional 32,146 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of TE Connectivity by 4.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 681,392 shares of the electronics maker’s stock valued at $95,736,000 after buying an additional 29,334 shares in the last quarter. Finally, NEOS Investment Management LLC raised its position in TE Connectivity by 46.6% in the fourth quarter. NEOS Investment Management LLC now owns 4,395 shares of the electronics maker’s stock worth $617,000 after acquiring an additional 1,397 shares in the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Stock Performance

Shares of TEL stock opened at $145.45 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.51. The firm has a market cap of $44.54 billion, a P/E ratio of 13.31 and a beta of 1.33. The firm’s 50 day moving average price is $148.12 and its 200-day moving average price is $147.95. TE Connectivity has a one year low of $115.00 and a one year high of $159.98.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.91 EPS for the quarter, topping the consensus estimate of $1.86 by $0.05. The business had revenue of $4 billion during the quarter, compared to analyst estimates of $4.01 billion. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. The company’s quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the business posted $1.77 earnings per share. As a group, equities research analysts predict that TE Connectivity will post 7.57 EPS for the current year.

TE Connectivity Company Profile

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.