TE Connectivity (NYSE:TEL) Earns Buy Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of TE Connectivity (NYSE:TEL) in a research report released on Tuesday. The brokerage issued a buy rating on the electronics maker’s stock.

Other equities research analysts also recently issued reports about the stock. Bank of America lowered their price objective on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Truist Financial lifted their target price on TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Robert W. Baird raised their price target on shares of TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Hsbc Global Res upgraded shares of TE Connectivity to a “hold” rating in a research report on Wednesday, July 24th. Finally, The Goldman Sachs Group cut their price target on TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $161.82.

TE Connectivity Price Performance

Shares of TEL stock opened at $148.97 on Tuesday. The company has a market cap of $45.27 billion, a P/E ratio of 13.40, a PEG ratio of 1.91 and a beta of 1.33. 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 stock’s 50-day moving average is $148.00 and its 200 day moving average is $148.16. TE Connectivity has a 1-year low of $115.00 and a 1-year high of $159.98.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.05. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $4.01 billion. TE Connectivity had a net margin of 21.94% and a return on equity of 18.53%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the company earned $1.77 earnings per share. Research analysts predict that TE Connectivity will post 7.56 earnings per share for the current fiscal year.

Insider Activity at TE Connectivity

In other news, CFO Heath A. Mitts sold 59,700 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $154.70, for a total value of $9,235,590.00. Following the sale, the chief financial officer now directly owns 38,073 shares in the company, valued at approximately $5,889,893.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Robert J. Ott sold 2,913 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total transaction of $450,320.67. Following the transaction, the senior vice president now directly owns 25,504 shares in the company, valued at $3,942,663.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Heath A. Mitts sold 59,700 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $154.70, for a total transaction of $9,235,590.00. Following the transaction, the chief financial officer now directly owns 38,073 shares in the company, valued at approximately $5,889,893.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.86% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Salem Investment Counselors Inc. increased its holdings in shares of TE Connectivity by 112.4% during the 1st quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock worth $27,000 after buying an additional 100 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of TE Connectivity by 209.8% in the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 128 shares during the last quarter. Olistico Wealth LLC acquired a new position in TE Connectivity during the 2nd quarter valued at about $30,000. Armstrong Advisory Group Inc. grew its holdings in TE Connectivity by 208.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after buying an additional 150 shares in the last quarter. Finally, Bank & Trust Co acquired a new position in shares of TE Connectivity during the second quarter valued at $35,000. 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.