StockNews.com Initiates Coverage on TE Connectivity (NYSE:TEL)

StockNews.com started coverage on shares of TE Connectivity (NYSE:TEL) in a research report released on Thursday. The firm issued a buy rating on the electronics maker’s stock.

Other analysts have also issued research reports about the stock. The Goldman Sachs Group restated a buy rating on shares of TE Connectivity in a research note on Monday, April 1st. JPMorgan Chase & Co. dropped their price target on shares of TE Connectivity from $170.00 to $169.00 and set a neutral rating on the stock in a research report on Thursday, April 25th. Robert W. Baird lowered their price objective 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. Wells Fargo & Company cut their target price on TE Connectivity from $152.00 to $150.00 and set an equal weight rating on the stock in a research report on Tuesday, June 25th. Finally, Jefferies Financial Group began coverage on TE Connectivity in a research note on Tuesday, April 9th. They set a buy rating and a $180.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, TE Connectivity currently has a consensus rating of Moderate Buy and a consensus target price of $155.13.

TE Connectivity Trading Up 0.7 %

TEL opened at $155.81 on Thursday. The company has a fifty day moving average price of $149.65 and a two-hundred day moving average price of $143.92. TE Connectivity has a 1-year low of $115.00 and a 1-year high of $157.42. The company has a market cap of $47.71 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 2.28 and a beta of 1.33. The company has a current ratio of 1.45, a quick ratio of 0.92 and a debt-to-equity ratio of 0.24.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, April 24th. The electronics maker reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.03. The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.96 billion. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The firm’s revenue was down 4.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.65 EPS. Analysts predict that TE Connectivity will post 7.5 EPS for the current fiscal year.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Aaron Kyle Stucki sold 8,750 shares of TE Connectivity stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $155.00, for a total value of $1,356,250.00. Following the sale, the insider now owns 20,556 shares of the company’s stock, valued at $3,186,180. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other TE Connectivity news, insider Aaron Kyle Stucki sold 8,750 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $155.00, for a total value of $1,356,250.00. Following the completion of the sale, the insider now directly owns 20,556 shares of the company’s stock, valued at $3,186,180. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark Trudeau sold 7,044 shares of the business’s 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 completion of the sale, the director now owns 5,917 shares in the company, valued at $837,196.33. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,794 shares of company stock worth $3,102,206. 0.86% of the stock is owned by company insiders.

Hedge Funds Weigh In On TE Connectivity

Large investors have recently modified their holdings of the business. Mechanics Bank Trust Department purchased a new position in TE Connectivity in the 2nd quarter valued at approximately $224,000. QRG Capital Management Inc. grew its position in shares of TE Connectivity by 7.2% in the second quarter. QRG Capital Management Inc. now owns 84,003 shares of the electronics maker’s stock valued at $12,637,000 after purchasing an additional 5,617 shares in the last quarter. OLD National Bancorp IN raised its stake in shares of TE Connectivity by 23.7% during the 2nd quarter. OLD National Bancorp IN now owns 2,393 shares of the electronics maker’s stock valued at $360,000 after purchasing an additional 459 shares during the period. Manning & Napier Advisors LLC purchased a new stake in TE Connectivity during the 2nd quarter worth about $15,847,000. Finally, BDF Gestion bought a new position in TE Connectivity in the 2nd quarter worth about $1,846,000. Hedge funds and other institutional investors 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.