TE Connectivity (NYSE:TEL) Receives New Coverage from Analysts at StockNews.com

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

A number of other brokerages have also issued reports on TEL. Vertical Research started coverage on TE Connectivity in a research report on Tuesday, July 23rd. They set a “hold” rating and a $155.00 target price on the stock. The Goldman Sachs Group reduced their price objective on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Wolfe Research upgraded shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. Bank of America decreased their price objective on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Finally, Truist Financial boosted their target price on shares of TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, TE Connectivity has an average rating of “Hold” and an average price target of $161.82.

TE Connectivity Stock Performance

Shares of TEL opened at $145.47 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.51 and a quick ratio of 0.99. The firm’s 50 day moving average is $148.07 and its 200-day moving average is $148.23. TE Connectivity has a 12-month low of $115.00 and a 12-month high of $159.98. The stock has a market capitalization of $44.21 billion, a P/E ratio of 13.08, a P/E/G ratio of 1.89 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last posted its quarterly 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. The company had revenue of $4 billion for the quarter, compared to analysts’ expectations of $4.01 billion. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. The firm’s revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.77 earnings per share. Equities research analysts anticipate that TE Connectivity will post 7.56 EPS for the current fiscal year.

Insider Buying and Selling

In other TE Connectivity news, SVP Robert J. Ott sold 2,913 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total value of $450,320.67. Following the transaction, the senior vice president now owns 25,504 shares in the company, valued at $3,942,663.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Robert J. Ott sold 2,913 shares of TE Connectivity stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total transaction of $450,320.67. Following the completion of the sale, the senior vice president now directly owns 25,504 shares in the company, valued at $3,942,663.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Heath A. Mitts sold 59,700 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 38,073 shares in the company, valued at $5,889,893.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.86% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TE Connectivity

A number of large investors have recently bought and sold shares of TEL. Price T Rowe Associates Inc. MD lifted its position in shares of TE Connectivity by 54.9% in the first 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 buying an additional 5,526,230 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of TE Connectivity by 26.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock valued at $944,791,000 after acquiring an additional 1,304,199 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in TE Connectivity by 238.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 719,354 shares of the electronics maker’s stock worth $108,212,000 after purchasing an additional 506,754 shares during the last quarter. Bank of Montreal Can boosted its position in TE Connectivity by 43.0% during the second quarter. Bank of Montreal Can now owns 1,155,426 shares of the electronics maker’s stock worth $174,955,000 after purchasing an additional 347,315 shares during the period. Finally, Toronto Dominion Bank grew its holdings in TE Connectivity by 141.3% during the second quarter. Toronto Dominion Bank now owns 468,294 shares of the electronics maker’s stock valued at $70,445,000 after purchasing an additional 274,206 shares during the last quarter. 91.43% of the stock is currently owned by 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.