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

StockNews.com initiated coverage on shares of TE Connectivity (NYSE:TEL) in a research note issued to investors on Sunday morning. The firm issued a buy rating on the electronics maker’s stock.

Several other analysts have also issued reports on the company. Bank of America boosted their price target on TE Connectivity from $165.00 to $170.00 and gave the company a buy rating in a report on Thursday, July 18th. Robert W. Baird raised their target price 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. HSBC lowered shares of TE Connectivity from a buy rating to a hold rating and set a $162.00 price target for the company. in a research report on Wednesday, July 24th. Truist Financial raised their price objective on shares of TE Connectivity from $151.00 to $156.00 and gave the company a hold rating in a research report on Thursday, July 25th. Finally, Wells Fargo & Company dropped their target price on shares of TE Connectivity from $155.00 to $153.00 and set an equal weight rating for the company in a report on Friday, September 20th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, TE Connectivity currently has an average rating of Hold and an average price target of $160.42.

TE Connectivity Stock Down 2.3 %

TEL stock opened at $147.46 on Friday. The company has a market cap of $44.82 billion, a price-to-earnings ratio of 13.49, a P/E/G ratio of 2.05 and a beta of 1.33. 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 business’s 50-day moving average is $148.75 and its two-hundred day moving average is $147.90. TE Connectivity has a fifty-two week low of $115.00 and a fifty-two week high of $159.98.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.05. TE Connectivity had a net margin of 21.94% and a return on equity of 18.53%. The company had revenue of $4 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period in the previous year, the business posted $1.77 earnings per share. The firm’s quarterly revenue was up .1% compared to the same quarter last year. As a group, analysts forecast that TE Connectivity will post 7.57 earnings per share for the current year.

Insider Buying and Selling at TE Connectivity

In related news, SVP Robert J. Ott sold 2,913 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total value of $450,320.67. Following the sale, the senior vice president now owns 25,504 shares in the company, valued at $3,942,663.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Robert J. Ott sold 2,913 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total value of $450,320.67. Following the completion of the transaction, the senior vice president now owns 25,504 shares of the company’s stock, valued at approximately $3,942,663.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Heath A. Mitts sold 59,700 shares of TE Connectivity stock in a transaction dated 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 transaction, the chief financial officer now owns 38,073 shares of the company’s stock, valued at approximately $5,889,893.10. The disclosure for this sale can be found here. Insiders sold 71,363 shares of company stock worth $11,042,161 in the last quarter. 0.86% of the stock is owned by corporate insiders.

Institutional Trading of TE Connectivity

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its position in TE Connectivity by 54.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker’s stock worth $2,265,218,000 after purchasing an additional 5,526,230 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of TE Connectivity by 26.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock worth $944,791,000 after acquiring an additional 1,304,199 shares during the last quarter. Wellington Management Group LLP boosted its holdings in TE Connectivity by 12.5% during the 4th quarter. Wellington Management Group LLP now owns 3,630,003 shares of the electronics maker’s stock valued at $510,015,000 after acquiring an additional 403,750 shares during the period. Dimensional Fund Advisors LP grew its position in TE Connectivity by 7.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,118,636 shares of the electronics maker’s stock valued at $469,113,000 after acquiring an additional 223,842 shares during the last quarter. Finally, Pzena Investment Management LLC increased its stake in TE Connectivity by 9.3% in the first quarter. Pzena Investment Management LLC now owns 2,798,532 shares of the electronics maker’s stock worth $406,459,000 after purchasing an additional 238,370 shares during the period. Hedge funds and other 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.