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

Analysts at StockNews.com initiated coverage on shares of TE Connectivity (NYSE:TEL) in a note issued to investors on Wednesday. The firm set a “buy” rating on the electronics maker’s stock.

A number of other research firms also recently issued reports on TEL. JPMorgan Chase & Co. dropped their price objective on shares of TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Truist Financial increased their price objective on shares of TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Robert W. Baird dropped their price target on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TE Connectivity in a report on Monday, April 1st. Finally, Jefferies Financial Group began coverage on shares of TE Connectivity in a research note on Tuesday, April 9th. They set a “buy” rating and a $180.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $153.89.

TE Connectivity Stock Performance

TE Connectivity stock opened at $143.24 on Wednesday. TE Connectivity has a twelve month low of $115.00 and a twelve month high of $147.98. The company has a quick ratio of 0.92, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. The stock’s 50 day moving average is $142.44 and its 200 day moving average is $137.30. The company has a market capitalization of $43.86 billion, a P/E ratio of 13.11, a PEG ratio of 2.09 and a beta of 1.36.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter in the previous year, the business earned $1.65 earnings per share. The company’s revenue was down 4.6% on a year-over-year basis. On average, equities research analysts predict that TE Connectivity will post 7.51 earnings per share for the current fiscal year.

Insider Transactions at TE Connectivity

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

Institutional Investors Weigh In On TE Connectivity

Several institutional investors have recently added to or reduced their stakes in the business. Stratos Wealth Partners LTD. raised its stake in shares of TE Connectivity by 10.1% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 2,957 shares of the electronics maker’s stock worth $365,000 after buying an additional 272 shares during the period. Brown Advisory Inc. increased its stake in TE Connectivity by 36.0% during the 3rd quarter. Brown Advisory Inc. now owns 18,375 shares of the electronics maker’s stock worth $2,270,000 after buying an additional 4,862 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of TE Connectivity by 1.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,274 shares of the electronics maker’s stock valued at $6,828,000 after acquiring an additional 961 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of TE Connectivity by 43.7% in the third quarter. Mackenzie Financial Corp now owns 50,518 shares of the electronics maker’s stock worth $6,175,000 after acquiring an additional 15,354 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of TE Connectivity by 1.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 80,211 shares of the electronics maker’s stock worth $9,908,000 after purchasing an additional 761 shares in the last quarter. Institutional investors and hedge funds 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.