Wall Street Zen Upgrades TE Connectivity (NYSE:TEL) to Buy

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

Other equities research analysts have also recently issued research reports about the company. Citigroup upgraded TE Connectivity from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $150.00 to $200.00 in a report on Friday. JPMorgan Chase & Co. raised their price target on TE Connectivity from $146.00 to $148.00 and gave the stock a “neutral” rating in a research note on Thursday, April 24th. Hsbc Global Res raised TE Connectivity from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 24th. Robert W. Baird raised their target price on shares of TE Connectivity from $147.00 to $153.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Finally, Truist Financial dropped their target price on shares of TE Connectivity from $163.00 to $156.00 and set a “hold” rating for the company in a research report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $171.70.

TE Connectivity Stock Performance

NYSE:TEL opened at $177.14 on Friday. The firm has a market cap of $52.53 billion, a PE ratio of 38.93, a price-to-earnings-growth ratio of 2.29 and a beta of 1.23. TE Connectivity has a fifty-two week low of $116.30 and a fifty-two week high of $178.10. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.51. The business has a 50 day moving average price of $163.83 and a 200-day moving average price of $150.83.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.14. The business had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $3.97 billion. TE Connectivity had a net margin of 8.67% and a return on equity of 19.40%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.86 EPS. Equities research analysts predict that TE Connectivity will post 8.05 earnings per share for the current year.

Insider Activity

In other TE Connectivity news, SVP Malavika Sagar sold 3,125 shares of TE Connectivity stock in a transaction on Monday, May 12th. The stock was sold at an average price of $160.00, for a total transaction of $500,000.00. Following the completion of the transaction, the senior vice president owned 5,927 shares in the company, valued at approximately $948,320. The trade was a 34.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $159.03, for a total value of $3,975,750.00. Following the transaction, the insider owned 25,976 shares of the company’s stock, valued at $4,130,963.28. The trade was a 49.04% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 187,775 shares of company stock valued at $29,596,059. 0.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TEL. Costello Asset Management INC purchased a new position in TE Connectivity in the 1st quarter worth about $28,000. Millstone Evans Group LLC purchased a new position in shares of TE Connectivity during the first quarter valued at approximately $32,000. Ransom Advisory Ltd purchased a new stake in TE Connectivity during the 1st quarter valued at $34,000. Kelly Lawrence W & Associates Inc. CA purchased a new stake in TE Connectivity during the 1st quarter valued at $34,000. Finally, Dagco Inc. purchased a new stake in TE Connectivity during the 1st quarter valued at $35,000. 91.43% of the stock is owned by hedge funds and other institutional investors.

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.