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

Analysts at StockNews.com initiated coverage on shares of TE Connectivity (NYSE:TEL) in a report released on Saturday. The brokerage set a “buy” rating on the electronics maker’s stock.

Other equities analysts have also recently issued reports about the company. Bank of America boosted their price target on TE Connectivity from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Truist Financial upped their target price on shares of TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Hsbc Global Res upgraded shares of TE Connectivity to a “hold” rating in a report on Wednesday, July 24th. HSBC downgraded shares of 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, July 24th. Finally, Vertical Research began coverage on shares of TE Connectivity in a research report on Tuesday, July 23rd. They set a “hold” rating and a $155.00 target price on the stock. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $158.73.

TE Connectivity Stock Down 0.9 %

TE Connectivity stock opened at $148.11 on Friday. TE Connectivity has a fifty-two week low of $115.00 and a fifty-two week high of $159.98. The firm has a market capitalization of $45.36 billion, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 1.98 and a beta of 1.33. The stock’s fifty day moving average is $149.59 and its two-hundred day moving average is $147.49. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.51.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.05. TE Connectivity had a net margin of 21.94% and a return on equity of 18.53%. The firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same period last year, the firm posted $1.77 EPS. The firm’s revenue for the quarter was up .1% on a year-over-year basis. Analysts predict that TE Connectivity will post 7.57 EPS for the current fiscal year.

Insider Activity

In related news, SVP Robert J. Ott sold 2,913 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total value of $450,320.67. Following the transaction, the senior vice president now directly owns 25,504 shares of the company’s stock, valued at approximately $3,942,663.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Aaron Kyle Stucki sold 8,750 shares of the stock in a transaction on Thursday, July 11th. The stock was 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 in the company, valued at approximately $3,186,180. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Robert J. Ott sold 2,913 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total value of $450,320.67. Following the completion of the transaction, the senior vice president now directly owns 25,504 shares in the company, valued at $3,942,663.36. The disclosure for this sale can be found here. Insiders sold 71,363 shares of company stock valued at $11,042,161 in the last ninety days. Company insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On TE Connectivity

Large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC increased its stake in TE Connectivity by 184.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 43,867 shares of the electronics maker’s stock worth $6,163,000 after buying an additional 28,449 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of TE Connectivity by 17.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 361,166 shares of the electronics maker’s stock worth $52,456,000 after acquiring an additional 52,824 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of TE Connectivity by 25.3% in the first quarter. Russell Investments Group Ltd. now owns 287,942 shares of the electronics maker’s stock worth $41,811,000 after acquiring an additional 58,219 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in TE Connectivity by 72.8% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,687 shares of the electronics maker’s stock valued at $46,537,000 after purchasing an additional 135,548 shares during the last quarter. Finally, Manning & Napier Advisors LLC acquired a new stake in TE Connectivity during the 2nd quarter valued at approximately $15,847,000. 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.