StockNews.com Initiates Coverage on TE Connectivity (NYSE:TEL)

Investment analysts at StockNews.com began coverage on shares of TE Connectivity (NYSE:TEL) in a research note issued on Tuesday. The brokerage set a “buy” rating on the electronics maker’s stock.

TEL has been the topic of several other research reports. The Goldman Sachs Group reissued a “buy” rating on shares of TE Connectivity in a report on Monday, April 1st. Robert W. Baird cut their price target on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. JPMorgan Chase & Co. cut their price target on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Finally, Jefferies Financial Group assumed coverage on TE Connectivity in a research note on Tuesday, April 9th. They set a “buy” rating and a $180.00 target price on the stock. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, TE Connectivity has an average rating of “Moderate Buy” and an average price target of $155.13.

TE Connectivity Price Performance

Shares of TEL opened at $147.83 on Tuesday. The firm has a market cap of $45.27 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 2.20 and a beta of 1.35. The stock has a 50 day moving average of $147.23 and a 200-day moving average of $142.97. The company has a current ratio of 1.45, a quick ratio of 0.92 and a debt-to-equity ratio of 0.24. TE Connectivity has a 52 week low of $115.00 and a 52 week high of $153.54.

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

Insider Activity

In other news, Director Mark Trudeau sold 7,044 shares of TE Connectivity stock in a transaction 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 directly owns 5,917 shares in the company, valued at approximately $837,196.33. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Mark Trudeau sold 7,044 shares of TE Connectivity stock in a transaction 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 directly owns 5,917 shares in the company, valued at approximately $837,196.33. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Shadrak W. Kroeger sold 5,000 shares of TE Connectivity 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 transaction, the insider now owns 25,976 shares in the company, valued at $3,892,763.36. The disclosure for this sale can be found here. 0.86% of the stock is owned by insiders.

Hedge Funds Weigh In On TE Connectivity

Several hedge funds have recently modified their holdings of the company. HM Payson & Co. grew its holdings in shares of TE Connectivity by 3.1% in the 1st quarter. HM Payson & Co. now owns 3,431 shares of the electronics maker’s stock worth $498,000 after acquiring an additional 103 shares during the last quarter. Cetera Advisors LLC boosted its position in TE Connectivity by 116.9% during the first quarter. Cetera Advisors LLC now owns 9,693 shares of the electronics maker’s stock valued at $1,408,000 after purchasing an additional 5,224 shares during the last quarter. Cetera Investment Advisers boosted its position in TE Connectivity by 129.2% during the first quarter. Cetera Investment Advisers now owns 40,922 shares of the electronics maker’s stock valued at $5,944,000 after purchasing an additional 23,068 shares during the last quarter. PGGM Investments boosted its position in TE Connectivity by 0.7% during the first quarter. PGGM Investments now owns 75,733 shares of the electronics maker’s stock valued at $10,999,000 after purchasing an additional 550 shares during the last quarter. Finally, Swedbank AB acquired a new stake in TE Connectivity during the first quarter valued at $10,182,000. 91.43% of the stock is currently 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.