TE Connectivity (NYSE:TEL) Coverage Initiated at StockNews.com

Analysts at StockNews.com began coverage on shares of TE Connectivity (NYSE:TEL) in a research report issued on Monday. The brokerage set a “buy” rating on the electronics maker’s stock.

A number of other brokerages also recently issued reports on TEL. JPMorgan Chase & Co. raised their price target on shares of TE Connectivity from $169.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Citigroup started coverage on TE Connectivity in a research note on Friday, January 5th. They issued a “neutral” rating and a $146.00 price target on the stock. Jefferies Financial Group assumed coverage on TE Connectivity in a research report on Tuesday, April 9th. They set a “buy” rating and a $180.00 price objective for the company. The Goldman Sachs Group restated a “buy” rating on shares of TE Connectivity in a report on Monday, April 1st. Finally, Stifel Nicolaus increased their target price on shares of TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $153.30.

TE Connectivity Stock Performance

NYSE:TEL opened at $140.55 on Monday. TE Connectivity has a twelve month low of $115.00 and a twelve month high of $147.98. The company has a market cap of $43.68 billion, a P/E ratio of 13.33, a P/E/G ratio of 2.00 and a beta of 1.39. The company has a current ratio of 1.86, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average price is $142.65 and its 200-day moving average price is $135.70.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.13. TE Connectivity had a return on equity of 18.93% and a net margin of 20.69%. The business had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same period in the previous year, the firm posted $1.53 EPS. The business’s revenue for the quarter was down .3% compared to the same quarter last year. On average, sell-side analysts forecast that TE Connectivity will post 7.59 earnings per share for the current fiscal year.

Insider Transactions at TE Connectivity

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $144.00, for a total value of $14,367,888.00. Following the completion of the transaction, the insider now owns 30,459 shares of the company’s stock, valued at approximately $4,386,096. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On TE Connectivity

Hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC acquired a new stake in shares of TE Connectivity in the 4th quarter valued at $10,759,000. Nordea Investment Management AB raised its stake in TE Connectivity by 5.3% in the fourth quarter. Nordea Investment Management AB now owns 812,537 shares of the electronics maker’s stock valued at $114,430,000 after buying an additional 41,198 shares in the last quarter. SG Americas Securities LLC lifted its holdings in TE Connectivity by 518.3% during the 4th quarter. SG Americas Securities LLC now owns 155,698 shares of the electronics maker’s stock worth $21,876,000 after buying an additional 130,515 shares during the last quarter. Patten Group Inc. acquired a new position in shares of TE Connectivity during the 4th quarter worth about $220,000. Finally, Ninety One North America Inc. increased its holdings in shares of TE Connectivity by 39.4% in the 4th quarter. Ninety One North America Inc. now owns 61,289 shares of the electronics maker’s stock valued at $8,611,000 after acquiring an additional 17,322 shares during the last quarter. 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.