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

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

Several other analysts have also recently issued reports on TEL. Truist Financial upped their price objective on TE Connectivity from $148.00 to $153.00 and gave the company a hold rating in a research note on Thursday, January 25th. JPMorgan Chase & Co. decreased their target price on TE Connectivity from $170.00 to $169.00 and set a neutral rating on the stock in a research report on Thursday, April 25th. Robert W. Baird dropped their price objective on shares of TE Connectivity from $159.00 to $158.00 and set an outperform rating for the company in a research report on Thursday, April 25th. Jefferies Financial Group initiated coverage on shares of TE Connectivity in a research report on Tuesday, April 9th. They issued a buy rating and a $180.00 price objective on the stock. Finally, Stifel Nicolaus upped their price target on shares of TE Connectivity from $140.00 to $145.00 and gave the company a hold rating in a research note on Thursday, January 25th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $153.89.

TE Connectivity Stock Up 0.6 %

NYSE TEL traded up $0.87 during trading on Friday, hitting $150.87. The company’s stock had a trading volume of 1,180,062 shares, compared to its average volume of 1,470,000. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.92. The company has a market cap of $46.20 billion, a PE ratio of 13.80, a P/E/G ratio of 2.21 and a beta of 1.36. The business’s 50 day simple moving average is $144.53 and its 200-day simple moving average is $139.75. TE Connectivity has a fifty-two week low of $115.00 and a fifty-two week high of $152.79.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.03. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same quarter last year, the company earned $1.65 EPS. The business’s quarterly revenue was down 4.6% on a year-over-year basis. On average, equities analysts anticipate that TE Connectivity will post 7.5 EPS 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 paid a $0.65 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.72%. TE Connectivity’s dividend payout ratio (DPR) is presently 23.79%.

Insider Activity at TE Connectivity

In other TE Connectivity news, Director Mark Trudeau sold 7,044 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $141.49, for a total transaction of $996,655.56. Following the transaction, the director now owns 5,917 shares of the company’s stock, valued at approximately $837,196.33. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On TE Connectivity

A number of institutional investors have recently added to or reduced their stakes in TEL. International Assets Investment Management LLC acquired a new position in shares of TE Connectivity in the 4th quarter valued at $10,759,000. Nordea Investment Management AB grew its stake in shares of TE Connectivity by 5.3% in the fourth quarter. Nordea Investment Management AB now owns 812,537 shares of the electronics maker’s stock worth $114,430,000 after purchasing an additional 41,198 shares during the last quarter. SG Americas Securities LLC lifted its holdings in TE Connectivity by 518.3% in the fourth quarter. SG Americas Securities LLC now owns 155,698 shares of the electronics maker’s stock valued at $21,876,000 after buying an additional 130,515 shares during the period. Patten Group Inc. bought a new stake in shares of TE Connectivity during the fourth quarter worth about $220,000. Finally, Ninety One North America Inc. grew its position in TE Connectivity by 39.4% in the 4th quarter. Ninety One North America Inc. now owns 61,289 shares of the electronics maker’s stock worth $8,611,000 after purchasing an additional 17,322 shares in the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

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.