TE Connectivity (NYSE:TEL) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of TE Connectivity (NYSE:TEL) in a report issued on Monday. The brokerage issued a buy rating on the electronics maker’s stock.

A number of other brokerages also recently issued reports on TEL. The Goldman Sachs Group reissued a buy rating on shares of TE Connectivity in a report on Monday, April 1st. Truist Financial increased their price objective on shares of TE Connectivity from $148.00 to $153.00 and gave the company a hold rating in a report on Thursday, January 25th. Stifel Nicolaus increased their price objective on shares of TE Connectivity from $140.00 to $145.00 and gave the company a hold rating in a report on Thursday, January 25th. Citigroup assumed coverage on shares of TE Connectivity in a report on Friday, January 5th. They set a neutral rating and a $146.00 price objective on the stock. Finally, Robert W. Baird increased their price objective on shares of TE Connectivity from $147.00 to $155.00 and gave the company 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $153.30.

TE Connectivity Stock Performance

Shares of NYSE TEL opened at $140.00 on Monday. The company’s fifty day moving average price is $142.65 and its 200 day moving average price is $136.02. TE Connectivity has a 1 year low of $115.00 and a 1 year high of $147.98. The company has a market capitalization of $43.51 billion, a PE ratio of 13.28, a price-to-earnings-growth ratio of 2.04 and a beta of 1.39. 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 announced its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.13. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. The firm had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.87 billion. During the same period in the prior year, the firm posted $1.53 earnings per share. The firm’s quarterly revenue was down .3% compared to the same quarter last year. On average, research analysts predict that TE Connectivity will post 7.59 earnings per share for the current year.

TE Connectivity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s dividend payout ratio (DPR) is 24.67%.

Insider Buying and Selling

In related news, insider Steven T. Merkt sold 99,777 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $144.00, for a total transaction of $14,367,888.00. Following the completion of the sale, the insider now directly owns 30,459 shares in the company, valued at $4,386,096. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.86% of the stock is owned by company insiders.

Institutional Investors Weigh In On TE Connectivity

Several hedge funds and other institutional investors have recently bought and sold shares of TEL. Norges Bank acquired a new stake in TE Connectivity during the fourth quarter worth about $693,985,000. Qube Research & Technologies Ltd acquired a new stake in shares of TE Connectivity during the third quarter valued at about $165,640,000. First Trust Advisors LP increased its position in shares of TE Connectivity by 150.9% during the fourth quarter. First Trust Advisors LP now owns 2,143,423 shares of the electronics maker’s stock valued at $301,151,000 after acquiring an additional 1,289,230 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of TE Connectivity by 1,000.5% during the first quarter. Assenagon Asset Management S.A. now owns 1,335,477 shares of the electronics maker’s stock valued at $193,965,000 after acquiring an additional 1,214,122 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of TE Connectivity by 12.5% during the fourth 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 last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

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.