StockNews.com Begins Coverage on TE Connectivity (NYSE:TEL)

Stock analysts at StockNews.com started coverage on shares of TE Connectivity (NYSE:TEL) in a note issued to investors on Wednesday. The brokerage set a “buy” rating on the electronics maker’s stock.

TEL has been the topic of several other research reports. Truist Financial boosted their price target on TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. JPMorgan Chase & Co. cut their target price on shares of TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Jefferies Financial Group initiated coverage on TE Connectivity in a report on Tuesday, April 9th. They set a “buy” rating and a $180.00 price target for the company. The Goldman Sachs Group reissued a “buy” rating on shares of TE Connectivity in a research note on Monday, April 1st. Finally, Robert W. Baird lowered their target price on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $153.89.

TE Connectivity Trading Up 0.7 %

TE Connectivity stock opened at $143.24 on Wednesday. TE Connectivity has a 12 month low of $115.00 and a 12 month high of $147.98. The stock has a market cap of $43.86 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 2.09 and a beta of 1.36. The business has a 50 day moving average price of $142.44 and a two-hundred day moving average price of $137.30. The company has a quick ratio of 0.92, a current ratio of 1.45 and a debt-to-equity ratio of 0.24.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, April 24th. The electronics maker reported $1.86 EPS for the quarter, topping the consensus estimate of $1.83 by $0.03. The firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.96 billion. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. TE Connectivity’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same period last year, the business earned $1.65 earnings per share. As a group, equities analysts forecast that TE Connectivity will post 7.51 EPS for the current year.

Insider Activity

In related news, Director Mark Trudeau sold 7,044 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $141.49, for a total transaction of $996,655.56. Following the completion of the sale, the director now directly owns 5,917 shares of the company’s stock, valued at $837,196.33. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On TE Connectivity

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JFS Wealth Advisors LLC boosted its stake in TE Connectivity by 97.8% during the 4th quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock worth $26,000 after acquiring an additional 91 shares during the last quarter. Salem Investment Counselors Inc. raised its position in TE Connectivity by 112.4% in the 1st quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock valued at $27,000 after buying an additional 100 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new position in TE Connectivity during the 4th quarter worth approximately $30,000. Godsey & Gibb Inc. raised its holdings in shares of TE Connectivity by 103.6% in the first quarter. Godsey & Gibb Inc. now owns 224 shares of the electronics maker’s stock valued at $33,000 after purchasing an additional 114 shares during the last quarter. Finally, Crewe Advisors LLC acquired a new position in TE Connectivity during the fourth quarter worth $33,000. Institutional investors 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.