TE Connectivity (NYSE:TEL) Stock Bumped Down to “Hold” by Wall Street Zen

Wall Street Zen downgraded shares of TE Connectivity (NYSE:TEL) from a buy rating to a hold rating in a research note released on Saturday morning,Wall Street Zen reports.

TEL has been the topic of several other research reports. Citigroup reduced their target price on shares of TE Connectivity from $250.00 to $230.00 and set a “buy” rating on the stock in a report on Monday, July 13th. Evercore reaffirmed an “in-line” rating and set a $230.00 price objective on shares of TE Connectivity in a research note on Monday, June 22nd. Wells Fargo & Company increased their target price on TE Connectivity from $209.00 to $220.00 and gave the company a “cautious” rating in a report on Friday, September 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TE Connectivity in a research note on Friday, July 24th. Finally, UBS Group boosted their price objective on TE Connectivity from $241.00 to $253.00 and gave the company a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, TE Connectivity presently has an average rating of “Moderate Buy” and a consensus price target of $252.36.

TE Connectivity Stock Up 1.9%

Shares of NYSE TEL opened at $218.35 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.23 and a debt-to-equity ratio of 0.42. The business has a 50-day moving average of $210.35 and a 200-day moving average of $210.00. The firm has a market capitalization of $63.21 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 1.29 and a beta of 1.14. TE Connectivity has a 12 month low of $190.27 and a 12 month high of $252.56.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, July 22nd. The electronics maker reported $2.94 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.09. TE Connectivity had a net margin of 15.61% and a return on equity of 24.59%. The business had revenue of $5.16 billion for the quarter, compared to the consensus estimate of $5.01 billion. During the same period last year, the firm posted $2.27 earnings per share. TE Connectivity’s quarterly revenue was up 13.8% on a year-over-year basis. TE Connectivity has set its Q4 2026 guidance at 3.050-3.050 EPS. Sell-side analysts expect that TE Connectivity will post 11.48 earnings per share for the current fiscal year.

TE Connectivity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 20th will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, November 20th. TE Connectivity’s dividend payout ratio (DPR) is presently 30.59%.

Hedge Funds Weigh In On TE Connectivity

A number of institutional investors have recently added to or reduced their stakes in TEL. Riversedge Advisors LLC purchased a new position in TE Connectivity during the third quarter valued at $381,000. Wedmont Private Capital grew its position in shares of TE Connectivity by 30.0% in the 3rd quarter. Wedmont Private Capital now owns 2,589 shares of the electronics maker’s stock worth $555,000 after buying an additional 598 shares during the period. Dakota Community Bank & Trust NA increased its stake in shares of TE Connectivity by 20.0% in the 3rd quarter. Dakota Community Bank & Trust NA now owns 1,012 shares of the electronics maker’s stock worth $214,000 after acquiring an additional 169 shares in the last quarter. Legacy Wealth Asset Management LLC increased its stake in shares of TE Connectivity by 1.3% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 7,942 shares of the electronics maker’s stock worth $1,676,000 after acquiring an additional 105 shares in the last quarter. Finally, LifeGoal Investments LLC purchased a new position in TE Connectivity during the 3rd quarter valued at about $380,000. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Company Profile

TE Connectivity Ltd. (NYSE: TEL) is a global technology and manufacturing company that designs and produces connectivity and sensor solutions. Its products include connectors, terminals, relays, sensors, switches, circuit-protection devices, antennas and related components used to transmit power, data and signals reliably in demanding environments.

The company serves customers across the automotive, commercial transportation, industrial, aerospace and defense, medical, energy, data communications and consumer-device markets.