TE Connectivity (NYSE:TEL) Posts Earnings Results, Beats Expectations By $0.05 EPS

TE Connectivity (NYSE:TEL) posted its quarterly earnings results on Wednesday. The electronics maker reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.05, Briefing.com reports. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The company had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same period last year, the business earned $1.77 EPS. The business’s quarterly revenue was up .1% on a year-over-year basis. TE Connectivity updated its Q4 2024 guidance to 1.940-1.940 EPS and its Q4 guidance to $1.94 EPS.

TE Connectivity Stock Performance

Shares of TEL traded down $2.31 on Thursday, reaching $154.54. 2,566,137 shares of the stock traded hands, compared to its average volume of 1,974,361. The firm has a market cap of $47.32 billion, a price-to-earnings ratio of 14.30, a P/E/G ratio of 2.07 and a beta of 1.33. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.92. TE Connectivity has a 12 month low of $115.00 and a 12 month high of $159.98. The stock’s 50-day moving average price is $151.06 and its 200-day moving average price is $144.88.

Insider Activity

In other news, insider Aaron Kyle Stucki sold 8,750 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $155.00, for a total transaction of $1,356,250.00. Following the sale, the insider now directly owns 20,556 shares in the company, valued at $3,186,180. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Aaron Kyle Stucki sold 8,750 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $155.00, for a total transaction of $1,356,250.00. Following the sale, the insider now directly owns 20,556 shares in the company, valued at $3,186,180. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Shadrak W. Kroeger sold 5,000 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $149.86, for a total value of $749,300.00. Following the completion of the sale, the insider now directly owns 25,976 shares in the company, valued at approximately $3,892,763.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,794 shares of company stock worth $3,102,206. Company insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TEL shares. JPMorgan Chase & Co. cut their price target on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Jefferies Financial Group began coverage on TE Connectivity in a research note on Tuesday, April 9th. They issued a “buy” rating and a $180.00 price objective on the stock. HSBC downgraded TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price objective on the stock. in a research note on Wednesday. Truist Financial raised their price objective on TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a research note on Thursday. Finally, StockNews.com began coverage on TE Connectivity in a research note on Friday, July 19th. They issued a “buy” rating on the stock. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, TE Connectivity currently has an average rating of “Hold” and a consensus price target of $158.45.

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.