TE Connectivity (NYSE:TEL) Downgraded by Zacks Research to “Hold”

Zacks Research downgraded shares of TE Connectivity (NYSE:TEL) from a strong-buy rating to a hold rating in a research report sent to investors on Monday morning,Zacks.com reports.

TEL has been the topic of a number of other research reports. Wells Fargo & Company boosted their price objective on TE Connectivity from $214.00 to $226.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 23rd. Weiss Ratings raised TE Connectivity from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, April 29th. Barclays dropped their price objective on TE Connectivity from $302.00 to $297.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. UBS Group cut their target price on TE Connectivity from $272.00 to $261.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. Finally, Truist Financial cut their target price on TE Connectivity from $244.00 to $240.00 and set a “hold” rating on the stock in a research report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $256.57.

TE Connectivity Trading Up 2.4%

NYSE:TEL opened at $210.62 on Monday. TE Connectivity has a 12-month low of $162.17 and a 12-month high of $252.56. The firm has a market capitalization of $61.48 billion, a P/E ratio of 21.51, a P/E/G ratio of 1.46 and a beta of 1.16. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.89 and a quick ratio of 1.20. The business has a 50 day simple moving average of $214.47 and a 200 day simple moving average of $220.86.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, April 22nd. The electronics maker reported $2.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.70 by $0.03. TE Connectivity had a return on equity of 23.56% and a net margin of 15.54%.The company had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.72 billion. During the same quarter in the previous year, the firm posted $2.10 EPS. The firm’s quarterly revenue was up 14.4% on a year-over-year basis. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. Equities research analysts predict that TE Connectivity will post 11.28 EPS for the current year.

TE Connectivity declared that its Board of Directors has approved a share repurchase plan on Wednesday, March 11th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the electronics maker to reacquire up to 5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, insider Shadrak W. Kroeger sold 9,400 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $215.00, for a total transaction of $2,021,000.00. Following the completion of the sale, the insider owned 25,976 shares in the company, valued at approximately $5,584,840. This represents a 26.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 28,200 shares of company stock worth $6,140,644. Corporate insiders own 0.60% of the company’s stock.

Institutional Trading of TE Connectivity

Several large investors have recently made changes to their positions in TEL. Norges Bank bought a new stake in shares of TE Connectivity during the 4th quarter worth about $938,706,000. J. Stern & Co. LLP bought a new stake in TE Connectivity during the 4th quarter valued at approximately $445,402,000. Arrowstreet Capital Limited Partnership boosted its stake in TE Connectivity by 124.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,105,167 shares of the electronics maker’s stock valued at $706,457,000 after purchasing an additional 1,721,235 shares during the period. Bank of America Corp DE boosted its stake in TE Connectivity by 27.5% during the 2nd quarter. Bank of America Corp DE now owns 6,274,917 shares of the electronics maker’s stock valued at $1,058,390,000 after purchasing an additional 1,352,152 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its stake in TE Connectivity by 183.6% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,530,414 shares of the electronics maker’s stock valued at $348,184,000 after purchasing an additional 990,703 shares during the period. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Company Profile

TE Connectivity (NYSE: TEL) is a global industrial technology company that designs and manufactures connectivity and sensor solutions used to enable the flow of power and data in a wide range of applications. Its product portfolio includes electrical connectors, cable and wire harness assemblies, sensors, relays and switches, fiber-optic and coaxial interconnects, and other passive and active components that provide mechanical and electrical connections in complex systems.

The company’s products and engineered solutions serve diverse end markets such as automotive and transportation, industrial equipment, data communications and networks, aerospace and defense, medical devices, and energy.