Jefferies Financial Group Initiates Coverage on TE Connectivity (NYSE:TEL)

Stock analysts at Jefferies Financial Group began coverage on shares of TE Connectivity (NYSE:TEL) in a research report issued on Tuesday, Marketbeat.com reports. The brokerage set a “buy” rating and a $180.00 price target on the electronics maker’s stock. Jefferies Financial Group’s price target would indicate a potential upside of 24.19% from the company’s previous close.

A number of other brokerages have also weighed in on TEL. StockNews.com initiated coverage on shares of TE Connectivity in a research note on Saturday, April 6th. They issued a “buy” rating for the company. Stifel Nicolaus upped their price target on shares of TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Citigroup initiated coverage on shares of TE Connectivity in a research note on Friday, January 5th. They issued a “neutral” rating and a $146.00 price target for the company. Truist Financial upped their price target on shares of TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Finally, Wells Fargo & Company initiated coverage on shares of TE Connectivity in a research note on Friday, December 15th. They issued an “equal weight” rating and a $144.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, TE Connectivity presently has an average rating of “Moderate Buy” and a consensus target price of $150.00.

TE Connectivity Price Performance

NYSE TEL opened at $144.94 on Tuesday. TE Connectivity has a 52 week low of $115.00 and a 52 week high of $147.98. The company has a current ratio of 1.86, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27. The stock has a market cap of $45.05 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 2.06 and a beta of 1.39. The company has a 50-day moving average price of $142.64 and a two-hundred day moving average price of $134.64.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, January 24th. The electronics maker reported $1.84 EPS for the quarter, topping the consensus estimate of $1.71 by $0.13. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. The firm had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.87 billion. During the same quarter in the prior year, the firm earned $1.53 EPS. TE Connectivity’s quarterly revenue was down .3% on a year-over-year basis. Analysts forecast that TE Connectivity will post 7.57 EPS for the current year.

Insider Buying and Selling

In related news, insider Steven T. Merkt sold 99,777 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $144.00, for a total value of $14,367,888.00. Following the completion of the transaction, the insider now owns 30,459 shares of the company’s stock, valued at approximately $4,386,096. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On TE Connectivity

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Perpetual Ltd lifted its position in TE Connectivity by 4.1% in the 1st quarter. Perpetual Ltd now owns 1,990 shares of the electronics maker’s stock worth $289,000 after buying an additional 78 shares in the last quarter. Richard P Slaughter Associates Inc lifted its position in TE Connectivity by 4.8% in the 1st quarter. Richard P Slaughter Associates Inc now owns 15,293 shares of the electronics maker’s stock worth $2,221,000 after buying an additional 706 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in TE Connectivity by 2.8% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 33,202 shares of the electronics maker’s stock worth $4,822,000 after buying an additional 900 shares in the last quarter. Rise Advisors LLC purchased a new stake in TE Connectivity in the 1st quarter worth approximately $40,000. Finally, Emprise Bank purchased a new stake in TE Connectivity in the 1st quarter worth approximately $1,002,000. Institutional investors and hedge funds 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.