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

StockNews.com assumed coverage on shares of TE Connectivity (NYSE:TEL) in a report released on Monday. The brokerage issued a buy rating on the electronics maker’s stock.

Several other brokerages also recently commented on TEL. Wells Fargo & Company dropped their price target on TE Connectivity from $152.00 to $150.00 and set an equal weight rating on the stock in a research report on Tuesday, June 25th. Hsbc Global Res raised TE Connectivity to a hold rating in a research report on Wednesday, July 24th. Robert W. Baird lifted their price target on TE Connectivity from $162.00 to $170.00 and gave the stock an outperform rating in a research report on Thursday, July 25th. HSBC downgraded TE Connectivity from a buy rating to a hold rating and set a $162.00 price target on the stock. in a research report on Wednesday, July 24th. Finally, Truist Financial lifted their price target on TE Connectivity from $151.00 to $156.00 and gave the stock a hold rating in a research report on Thursday, July 25th. Eight equities research analysts have rated the stock with a hold rating and six have issued 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 $158.45.

TE Connectivity Stock Down 0.9 %

Shares of TEL stock opened at $145.13 on Monday. The stock’s 50 day simple moving average is $150.44 and its 200 day simple moving average is $146.30. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.51. TE Connectivity has a twelve month low of $115.00 and a twelve month high of $159.98. The company has a market capitalization of $44.11 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 1.96 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share 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 business had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period last year, the business earned $1.77 EPS. The firm’s revenue was up .1% compared to the same quarter last year. As a group, research analysts predict that TE Connectivity will post 7.56 EPS for the current year.

Insider Activity at TE Connectivity

In related news, insider Aaron Kyle Stucki sold 8,750 shares of the business’s stock in a transaction 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 sale, the insider now owns 20,556 shares of the company’s stock, valued at approximately $3,186,180. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Shadrak W. Kroeger sold 5,000 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $149.86, for a total value of $749,300.00. Following the sale, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,892,763.36. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Aaron Kyle Stucki sold 8,750 shares of the business’s stock in a transaction 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 in the company, valued at approximately $3,186,180. The disclosure for this sale can be found here. Insiders have sold a total of 76,363 shares of company stock valued at $11,791,461 in the last 90 days. 0.86% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TE Connectivity

A number of institutional investors and hedge funds have recently bought and sold shares of TEL. International Assets Investment Management LLC acquired a new position in TE Connectivity in the fourth quarter worth $10,759,000. Allspring Global Investments Holdings LLC boosted its stake in TE Connectivity by 35.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 77,490 shares of the electronics maker’s stock worth $10,887,000 after purchasing an additional 20,407 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in TE Connectivity by 60.1% in the fourth quarter. Sequoia Financial Advisors LLC now owns 7,406 shares of the electronics maker’s stock worth $1,040,000 after purchasing an additional 2,781 shares in the last quarter. Cerity Partners LLC boosted its stake in TE Connectivity by 98.9% in the fourth quarter. Cerity Partners LLC now owns 15,667 shares of the electronics maker’s stock worth $2,202,000 after purchasing an additional 7,791 shares in the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in TE Connectivity in the fourth quarter worth $2,641,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

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.