TE Connectivity (NYSE:TEL) Announces Quarterly Earnings Results

TE Connectivity (NYSE:TEL) announced its quarterly earnings results on Wednesday. The electronics maker reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.05, Briefing.com reports. The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $4.01 billion. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.77 EPS. TE Connectivity updated its Q4 2024 guidance to 1.940-1.940 EPS and its Q4 guidance to $1.94 EPS.

TE Connectivity Price Performance

NYSE TEL traded down $2.31 on Thursday, hitting $154.54. 2,706,478 shares of the company were exchanged, compared to its average volume of 1,974,361. The firm has a 50 day moving average of $151.06 and a two-hundred day moving average of $144.88. The company has a market cap of $47.32 billion, a P/E ratio of 14.30, a P/E/G ratio of 2.07 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 has a 1-year low of $115.00 and a 1-year high of $159.98.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Aaron Kyle Stucki sold 8,750 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $155.00, for a total transaction of $1,356,250.00. Following the transaction, the insider now directly owns 20,556 shares in the company, valued at approximately $3,186,180. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other TE Connectivity news, insider Aaron Kyle Stucki sold 8,750 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $155.00, for a total transaction of $1,356,250.00. Following the transaction, the insider now directly owns 20,556 shares in the company, valued at approximately $3,186,180. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Shadrak W. Kroeger sold 5,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $149.86, for a total value of $749,300.00. Following the completion of the sale, the insider now directly owns 25,976 shares of the company’s stock, valued at $3,892,763.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,794 shares of company stock worth $3,102,206. Company insiders own 0.86% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on TEL. HSBC lowered shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price target on the stock. in a report on Wednesday. JPMorgan Chase & Co. lowered their price target 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. Robert W. Baird boosted their price target on shares of TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday. Bank of America boosted their target price on shares of TE Connectivity from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Finally, StockNews.com assumed coverage on shares of TE Connectivity in a research note on Friday, July 19th. They issued a “buy” rating on the stock. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $158.45.

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.