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

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

Other research analysts have also recently issued research reports about the company. Citigroup initiated coverage on TE Connectivity in a research note on Friday, January 5th. They issued a neutral rating and a $146.00 price target for the company. Stifel Nicolaus upped their target price on shares of TE Connectivity from $140.00 to $145.00 and gave the company a hold rating in a research note on Thursday, January 25th. The Goldman Sachs Group reaffirmed a buy rating on shares of TE Connectivity in a report on Monday, April 1st. JPMorgan Chase & Co. decreased their price objective on shares of TE Connectivity from $170.00 to $169.00 and set a neutral rating for the company in a report on Thursday, April 25th. Finally, Robert W. Baird dropped their target price on shares of TE Connectivity from $159.00 to $158.00 and set an outperform rating on the stock in a report on Thursday, April 25th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, TE Connectivity presently has a consensus rating of Moderate Buy and an average price target of $153.50.

TE Connectivity Stock Performance

Shares of TE Connectivity stock opened at $141.47 on Tuesday. The stock has a market cap of $43.97 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 2.06 and a beta of 1.39. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.92. TE Connectivity has a 1 year low of $115.00 and a 1 year high of $147.98. The firm’s 50-day moving average is $142.58 and its 200 day moving average is $136.60.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.03. The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.96 billion. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The business’s revenue was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.65 earnings per share. Sell-side analysts anticipate that TE Connectivity will post 7.55 EPS for the current fiscal year.

TE Connectivity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be given a dividend of $0.65 per share. The ex-dividend date is Friday, February 21st. This represents a $2.60 annualized dividend and a yield of 1.84%. TE Connectivity’s dividend payout ratio (DPR) is presently 21.59%.

Insider Buying and Selling at TE Connectivity

In other news, Director Mark Trudeau sold 7,044 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 5,917 shares in the company, valued at approximately $837,196.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.86% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TE Connectivity

A number of institutional investors and hedge funds have recently bought and sold shares of TEL. JFS Wealth Advisors LLC grew its position in shares of TE Connectivity by 97.8% during the fourth quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock worth $26,000 after purchasing an additional 91 shares in the last quarter. Salem Investment Counselors Inc. lifted its position in TE Connectivity by 112.4% during the first quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock valued at $27,000 after purchasing an additional 100 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new position in shares of TE Connectivity in the 4th quarter worth $30,000. Godsey & Gibb Inc. increased its holdings in shares of TE Connectivity by 103.6% in the 1st quarter. Godsey & Gibb Inc. now owns 224 shares of the electronics maker’s stock worth $33,000 after buying an additional 114 shares during the last quarter. Finally, Crewe Advisors LLC purchased a new stake in shares of TE Connectivity during the 4th quarter valued at about $33,000. 91.43% of the stock is owned by institutional investors.

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.