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

Equities researchers at StockNews.com began coverage on shares of TE Connectivity (NYSE:TEL) in a research report issued on Saturday. The firm set a “buy” rating on the electronics maker’s stock.

A number of other analysts have also recently weighed in on TEL. Truist Financial increased their target price on shares of TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Robert W. Baird increased their price objective on shares of TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. Wells Fargo & Company dropped their price target on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, Bank of America raised their price target on TE Connectivity from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, TE Connectivity presently has a consensus rating of “Hold” and an average target price of $158.73.

TE Connectivity Stock Down 0.9 %

NYSE:TEL opened at $148.11 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.51. The company has a market capitalization of $45.36 billion, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 1.98 and a beta of 1.33. TE Connectivity has a one year low of $115.00 and a one year high of $159.98. The stock has a 50-day simple moving average of $149.59 and a 200 day simple moving average of $147.49.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 EPS for the quarter, topping the consensus estimate of $1.86 by $0.05. The company had revenue of $4 billion during the quarter, compared to analyst estimates of $4.01 billion. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. The business’s revenue was up .1% on a year-over-year basis. During the same quarter last year, the firm earned $1.77 EPS. Sell-side analysts predict that TE Connectivity will post 7.57 EPS for the current fiscal year.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Aaron Kyle Stucki sold 8,750 shares of the business’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 sale, the insider now directly owns 20,556 shares in the company, valued at approximately $3,186,180. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other TE Connectivity news, insider Aaron Kyle Stucki sold 8,750 shares of the stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $155.00, for a total transaction of $1,356,250.00. Following the completion of the transaction, the insider now directly owns 20,556 shares of the company’s stock, valued at approximately $3,186,180. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Heath A. Mitts sold 59,700 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $154.70, for a total value of $9,235,590.00. Following the completion of the sale, the chief financial officer now directly owns 38,073 shares in the company, valued at approximately $5,889,893.10. The disclosure for this sale can be found here. Insiders have sold 71,363 shares of company stock valued at $11,042,161 in the last quarter. Corporate insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On TE Connectivity

Large investors have recently made changes to their positions in the business. Salem Investment Counselors Inc. grew its holdings in shares of TE Connectivity by 112.4% in the 1st quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock worth $27,000 after acquiring an additional 100 shares during the last quarter. Versant Capital Management Inc increased its stake in TE Connectivity by 209.8% in the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 128 shares in the last quarter. Olistico Wealth LLC acquired a new stake in TE Connectivity during the 2nd quarter worth about $30,000. Bank & Trust Co purchased a new stake in TE Connectivity during the second quarter valued at about $35,000. Finally, Rise Advisors LLC acquired a new position in shares of TE Connectivity in the first quarter worth about $40,000. 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.