TE Connectivity (NYSE:TEL) Downgraded by Wall Street Zen to Hold

TE Connectivity (NYSE:TEL) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. upped their target price on TE Connectivity from $146.00 to $148.00 and gave the company a “neutral” rating in a research report on Thursday, April 24th. UBS Group reissued a “buy” rating and issued a $163.00 price target (up from $155.00) on shares of TE Connectivity in a research note on Thursday, April 24th. Robert W. Baird lifted their price objective on shares of TE Connectivity from $147.00 to $153.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. The Goldman Sachs Group dropped their target price on shares of TE Connectivity from $190.00 to $170.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Finally, Vertical Research upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Friday, April 25th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, TE Connectivity currently has an average rating of “Moderate Buy” and an average price target of $160.30.

TE Connectivity Stock Performance

NYSE:TEL opened at $157.71 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. TE Connectivity has a fifty-two week low of $116.30 and a fifty-two week high of $164.11. The company has a 50 day simple moving average of $143.56 and a two-hundred day simple moving average of $147.01. The company has a market capitalization of $46.77 billion, a PE ratio of 25.19, a P/E/G ratio of 2.11 and a beta of 1.24.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.14. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same period in the prior year, the company posted $1.86 earnings per share. TE Connectivity’s revenue for the quarter was up 4.4% compared to the same quarter last year. Research analysts anticipate that TE Connectivity will post 8.05 earnings per share for the current year.

Insider Buying and Selling at TE Connectivity

In related news, CFO Heath A. Mitts sold 53,306 shares of the company’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $159.21, for a total transaction of $8,486,848.26. Following the completion of the sale, the chief financial officer now owns 45,503 shares in the company, valued at approximately $7,244,532.63. This represents a 53.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Malavika Sagar sold 3,125 shares of the firm’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $160.00, for a total value of $500,000.00. Following the transaction, the senior vice president now owns 5,927 shares in the company, valued at approximately $948,320. This trade represents a 34.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 174,675 shares of company stock valued at $27,062,559. Corporate insiders own 0.90% of the company’s stock.

Institutional Trading of TE Connectivity

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in TE Connectivity by 17.0% in the 1st quarter. Vanguard Group Inc. now owns 37,881,410 shares of the electronics maker’s stock worth $5,353,401,000 after purchasing an additional 5,502,415 shares in the last quarter. Dodge & Cox boosted its stake in shares of TE Connectivity by 0.4% in the 1st quarter. Dodge & Cox now owns 16,022,480 shares of the electronics maker’s stock worth $2,264,297,000 after buying an additional 56,871 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of TE Connectivity by 17.2% in the 1st quarter. Wellington Management Group LLP now owns 7,459,195 shares of the electronics maker’s stock worth $1,054,133,000 after buying an additional 1,097,035 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of TE Connectivity by 17.1% in the first quarter. Ameriprise Financial Inc. now owns 6,563,527 shares of the electronics maker’s stock valued at $927,571,000 after acquiring an additional 960,276 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of TE Connectivity by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 6,015,210 shares of the electronics maker’s stock valued at $857,499,000 after acquiring an additional 33,340 shares during the last quarter. Institutional investors 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.