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

StockNews.com initiated coverage on shares of TE Connectivity (NYSE:TEL) in a research note published on Sunday morning. The firm issued a buy rating on the electronics maker’s stock.

TEL has been the subject of several other reports. Wells Fargo & Company decreased their price objective on shares of TE Connectivity from $152.00 to $150.00 and set an equal weight rating for the company in a report on Tuesday, June 25th. Jefferies Financial Group assumed coverage on shares of TE Connectivity in a report on Tuesday, April 9th. They set a buy rating and a $180.00 price objective for the company. Hsbc Global Res raised shares of TE Connectivity to a hold rating in a report on Wednesday, July 24th. Vertical Research assumed coverage on shares of TE Connectivity in a report on Tuesday, July 23rd. They set a hold rating and a $155.00 price objective for the company. Finally, JPMorgan Chase & Co. decreased their price objective on shares of TE Connectivity from $170.00 to $169.00 and set a neutral rating for the company in a report on Thursday, April 25th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $158.45.

TE Connectivity Stock Down 1.3 %

TE Connectivity stock traded down $1.96 during trading hours on Friday, hitting $143.44. The company had a trading volume of 2,108,410 shares, compared to its average volume of 1,963,044. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.51 and a quick ratio of 0.99. The firm has a market capitalization of $43.59 billion, a P/E ratio of 13.30, a price-to-earnings-growth ratio of 1.98 and a beta of 1.33. TE Connectivity has a fifty-two week low of $115.00 and a fifty-two week high of $159.98. The firm’s fifty day moving average is $151.29 and its 200-day moving average is $146.00.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 EPS for the quarter, topping the consensus estimate of $1.86 by $0.05. The company had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.01 billion. TE Connectivity had a net margin of 21.94% and a return on equity of 18.53%. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.77 earnings per share. On average, research analysts forecast that TE Connectivity will post 7.56 earnings per share for the current year.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Aaron Kyle Stucki sold 8,750 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $155.00, for a total value of $1,356,250.00. Following the completion of the sale, the insider now directly owns 20,556 shares of the company’s stock, valued at approximately $3,186,180. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Aaron Kyle Stucki sold 8,750 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $155.00, for a total value of $1,356,250.00. Following the completion of the transaction, the insider now owns 20,556 shares in the company, valued at approximately $3,186,180. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Robert J. Ott sold 2,913 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total transaction of $450,320.67. Following the completion of the transaction, the senior vice president now owns 25,504 shares of the company’s stock, valued at approximately $3,942,663.36. The disclosure for this sale can be found here. Insiders sold a total of 76,363 shares of company stock valued at $11,791,461 in the last ninety days. Company insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On TE Connectivity

A number of hedge funds have recently made changes to their positions in the company. JFS Wealth Advisors LLC increased its position in TE Connectivity by 97.8% in the 4th quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock valued at $26,000 after acquiring an additional 91 shares in the last quarter. Salem Investment Counselors Inc. increased its position in TE Connectivity by 112.4% in the 1st quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock valued at $27,000 after acquiring an additional 100 shares in the last quarter. Versant Capital Management Inc increased its position in TE Connectivity by 209.8% in the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock valued at $28,000 after acquiring an additional 128 shares in the last quarter. Olistico Wealth LLC bought a new position in shares of TE Connectivity in the 2nd quarter valued at about $30,000. Finally, Godsey & Gibb Inc. boosted its stake in shares of TE Connectivity by 103.6% in the 1st quarter. Godsey & Gibb Inc. now owns 224 shares of the electronics maker’s stock valued at $33,000 after purchasing an additional 114 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

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.