TE Connectivity (NYSE:TEL) Sets New 12-Month High at $153.80

TE Connectivity Ltd. (NYSE:TEL) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $153.80 and last traded at $153.51, with a volume of 1414329 shares traded. The stock had previously closed at $149.76.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. StockNews.com started coverage on TE Connectivity in a report on Thursday. They issued a “buy” rating for the company. Robert W. Baird reduced 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 note on Thursday, April 25th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TE Connectivity in a research note on Monday, April 1st. JPMorgan Chase & Co. cut their target price on shares of TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Finally, Jefferies Financial Group initiated coverage on shares of TE Connectivity in a research note on Tuesday, April 9th. They issued a “buy” rating and a $180.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $155.13.

TE Connectivity Stock Up 0.7 %

The company has a current ratio of 1.45, a quick ratio of 0.92 and a debt-to-equity ratio of 0.24. The firm has a market cap of $47.71 billion, a PE ratio of 14.37, a P/E/G ratio of 2.26 and a beta of 1.33. The business’s 50-day simple moving average is $149.38 and its 200 day simple moving average is $143.80.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.03. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the previous year, the firm earned $1.65 EPS. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. As a group, equities research analysts expect that TE Connectivity Ltd. will post 7.5 earnings per share for the current year.

Insider Transactions at TE Connectivity

In other news, Director Mark Trudeau sold 7,044 shares of TE Connectivity stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $141.49, for a total value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other TE Connectivity news, Director Mark Trudeau sold 7,044 shares of TE Connectivity stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $141.49, for a total transaction of $996,655.56. Following the completion of the sale, the director now directly owns 5,917 shares in the company, valued at approximately $837,196.33. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Shadrak W. Kroeger sold 5,000 shares of TE Connectivity stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $149.86, for a total transaction of $749,300.00. Following the sale, the insider now owns 25,976 shares of the company’s stock, valued at $3,892,763.36. The disclosure for this sale can be found here. Insiders have sold a total of 20,794 shares of company stock valued at $3,102,206 in the last 90 days. Insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On TE Connectivity

A number of hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its stake 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 valued at $2,265,218,000 after purchasing an additional 5,526,230 shares during the period. Norges Bank purchased a new stake in shares of TE Connectivity during the 4th quarter worth approximately $693,985,000. First Trust Advisors LP lifted its position in shares of TE Connectivity by 150.9% during the 4th quarter. First Trust Advisors LP now owns 2,143,423 shares of the electronics maker’s stock worth $301,151,000 after buying an additional 1,289,230 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of TE Connectivity by 1,000.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,335,477 shares of the electronics maker’s stock worth $193,965,000 after buying an additional 1,214,122 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of 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 worth $510,015,000 after buying an additional 403,750 shares during the last quarter. 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.