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

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

A number of other equities analysts have also recently weighed in on TEL. HSBC cut shares of TE Connectivity from a buy rating to a hold rating and set a $162.00 price objective for the company. in a research report on Wednesday, July 24th. Wells Fargo & Company reduced their price target on TE Connectivity from $152.00 to $150.00 and set an equal weight rating for the company in a report on Tuesday, June 25th. Truist Financial lifted their price objective on TE Connectivity from $151.00 to $156.00 and gave the stock a hold rating in a report on Thursday, July 25th. 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 for the company. Finally, Robert W. Baird increased their target price on TE Connectivity from $162.00 to $170.00 and gave the stock an outperform rating in a report on Thursday, July 25th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $158.45.

TE Connectivity Stock Performance

Shares of NYSE:TEL opened at $155.77 on Friday. The business’s 50-day simple moving average is $151.31 and its 200 day simple moving average is $145.44. The company has a market cap of $47.70 billion, a P/E ratio of 14.25, a PEG ratio of 2.13 and a beta of 1.33. 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 has a one year low of $115.00 and a one year high of $159.98.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.05. The company 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 quarterly revenue was up .1% on a year-over-year basis. During the same quarter last year, the firm posted $1.77 earnings per share. On average, sell-side analysts forecast that TE Connectivity will post 7.55 earnings per share for the current fiscal year.

Insider Transactions at TE Connectivity

In other 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 owns 20,556 shares in the company, valued at $3,186,180. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Aaron Kyle Stucki sold 8,750 shares of the company’s stock in a transaction dated 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 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 Securities & Exchange Commission, which is available through the SEC website. Also, insider Shadrak W. Kroeger sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $149.86, for a total transaction of $749,300.00. Following the sale, the insider now owns 25,976 shares of the company’s stock, valued at $3,892,763.36. The disclosure for this sale can be found here. Company insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On TE Connectivity

A number of hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC purchased a new position in TE Connectivity in the fourth quarter valued at about $10,759,000. Tower Research Capital LLC TRC increased its holdings in TE Connectivity by 184.5% in the fourth 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 last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in 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 valued at $52,456,000 after acquiring an additional 52,824 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in TE Connectivity by 25.3% in the first quarter. Russell Investments Group Ltd. now owns 287,942 shares of the electronics maker’s stock valued at $41,811,000 after acquiring an additional 58,219 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of TE Connectivity by 72.8% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,687 shares of the electronics maker’s stock worth $46,537,000 after purchasing an additional 135,548 shares during the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

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.