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

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

Other equities analysts also recently issued reports about the stock. The Goldman Sachs Group reissued a “buy” rating on shares of TE Connectivity in a research note on Monday, April 1st. Stifel Nicolaus increased their price target on TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a report on Thursday, January 25th. Robert W. Baird lowered their price objective on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Citigroup assumed coverage on TE Connectivity in a research note on Friday, January 5th. They issued a “neutral” rating and a $146.00 target price for the company. Finally, Truist Financial boosted their price target on shares of TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, TE Connectivity presently has an average rating of “Moderate Buy” and a consensus target price of $153.50.

TE Connectivity Stock Up 1.8 %

TE Connectivity stock opened at $142.80 on Tuesday. TE Connectivity has a 52 week low of $115.00 and a 52 week high of $147.98. The firm has a market cap of $44.38 billion, a price-to-earnings ratio of 13.06, a price-to-earnings-growth ratio of 2.06 and a beta of 1.39. The business’s 50-day moving average price is $142.56 and its 200 day moving average price is $136.46. The company has a quick ratio of 0.92, a current ratio of 1.45 and a debt-to-equity ratio of 0.24.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.03. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same quarter last year, the firm posted $1.65 EPS. The business’s revenue was down 4.6% on a year-over-year basis. As a group, sell-side analysts anticipate that TE Connectivity will post 7.55 earnings per share for the current year.

Insider Transactions at TE Connectivity

In related news, Director Mark Trudeau sold 7,044 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $141.49, for a total transaction of $996,655.56. Following the completion of the transaction, the director now owns 5,917 shares of the company’s stock, valued at approximately $837,196.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On TE Connectivity

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Monte Financial Group LLC lifted its position in shares of TE Connectivity by 1.5% during the first quarter. Monte Financial Group LLC now owns 8,521 shares of the electronics maker’s stock worth $1,238,000 after purchasing an additional 124 shares in the last quarter. Riverwater Partners LLC lifted its holdings in TE Connectivity by 4.2% during the 1st quarter. Riverwater Partners LLC now owns 2,666 shares of the electronics maker’s stock worth $387,000 after buying an additional 108 shares in the last quarter. Foster Victor Wealth Advisors LLC boosted its position in TE Connectivity by 3.5% in the 1st quarter. Foster Victor Wealth Advisors LLC now owns 73,827 shares of the electronics maker’s stock valued at $10,831,000 after buying an additional 2,519 shares during the period. Mesirow Financial Investment Management Inc. acquired a new position in shares of TE Connectivity in the first quarter worth $23,125,000. Finally, Carr Financial Group Corp purchased a new stake in shares of TE Connectivity during the first quarter worth $203,000. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

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.