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

StockNews.com began coverage on shares of TE Connectivity (NYSE:TEL) in a research report sent to investors on Sunday. The brokerage issued a buy rating on the electronics maker’s stock.

Several other brokerages have also recently issued reports on TEL. Stifel Nicolaus lifted their price target on TE Connectivity from $140.00 to $145.00 and gave the company a hold rating in a research report on Thursday, January 25th. Citigroup began coverage on TE Connectivity in a research report on Friday, January 5th. They set a neutral rating and a $146.00 price target on the stock. Truist Financial lifted their target price on TE Connectivity from $148.00 to $153.00 and gave the stock a hold rating in a report on Thursday, January 25th. The Goldman Sachs Group restated a buy rating on shares of TE Connectivity in a report on Monday, April 1st. Finally, Robert W. Baird lifted their target price on TE Connectivity from $147.00 to $155.00 and gave the stock an outperform rating in a report on Thursday, January 25th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, TE Connectivity currently has a consensus rating of Moderate Buy and a consensus target price of $153.30.

TE Connectivity Stock Up 0.5 %

Shares of TEL stock opened at $142.79 on Friday. TE Connectivity has a 1 year low of $115.00 and a 1 year high of $147.98. The stock has a market cap of $44.38 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 2.04 and a beta of 1.39. The business’s fifty day moving average is $142.78 and its 200-day moving average is $135.32. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.16 and a current ratio of 1.86.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.13. TE Connectivity had a return on equity of 18.93% and a net margin of 20.69%. The company had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same period last year, the firm earned $1.53 EPS. The firm’s revenue for the quarter was down .3% on a year-over-year basis. Equities analysts expect that TE Connectivity will post 7.57 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s payout ratio is 22.39%.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $144.00, for a total value of $14,367,888.00. Following the transaction, the insider now owns 30,459 shares in the company, valued at $4,386,096. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.86% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of TE Connectivity during the 4th quarter worth about $584,131,000. Moneta Group Investment Advisors LLC boosted its stake in shares of TE Connectivity by 119,784.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,247,666 shares of the electronics maker’s stock worth $372,832,000 after acquiring an additional 3,244,957 shares in the last quarter. State Street Corp boosted its stake in shares of TE Connectivity by 19.5% during the 1st quarter. State Street Corp now owns 14,149,636 shares of the electronics maker’s stock worth $1,851,648,000 after acquiring an additional 2,309,835 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of TE Connectivity by 17.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,070,140 shares of the electronics maker’s stock worth $1,414,855,000 after acquiring an additional 1,492,889 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in shares of TE Connectivity during the 3rd quarter worth about $165,640,000. 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.