TE Connectivity (NYSE:TEL) Earns Buy Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of TE Connectivity (NYSE:TEL) in a research note released on Wednesday morning. The brokerage issued a buy rating on the electronics maker’s stock.

Several other research analysts have also weighed in on TEL. Wolfe Research raised shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. The Goldman Sachs Group decreased their price objective on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Vertical Research started coverage on shares of TE Connectivity in a report on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 price target for the company. Truist Financial upped their target price on TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Finally, Robert W. Baird increased their price objective on TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, TE Connectivity presently has a consensus rating of “Hold” and an average target price of $161.82.

TE Connectivity Price Performance

Shares of TEL stock opened at $149.13 on Wednesday. The firm has a market cap of $45.67 billion, a P/E ratio of 13.64, a P/E/G ratio of 1.89 and a beta of 1.33. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.51 and a quick ratio of 0.99. TE Connectivity has a 1-year low of $115.00 and a 1-year high of $159.98. The firm has a fifty day moving average of $148.02 and a two-hundred day moving average of $148.25.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.05. The company had revenue of $4 billion during the quarter, compared to analyst estimates of $4.01 billion. TE Connectivity had a net margin of 21.94% and a return on equity of 18.53%. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the business earned $1.77 EPS. As a group, research analysts anticipate that TE Connectivity will post 7.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other TE Connectivity news, CFO Heath A. Mitts sold 59,700 shares of TE Connectivity stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $154.70, for a total value of $9,235,590.00. Following the transaction, the chief financial officer now owns 38,073 shares in the company, valued at approximately $5,889,893.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other TE Connectivity news, CFO Heath A. Mitts sold 59,700 shares of TE Connectivity stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $154.70, for a total transaction of $9,235,590.00. Following the transaction, the chief financial officer now directly owns 38,073 shares in the company, valued at approximately $5,889,893.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Robert J. Ott sold 2,913 shares of TE Connectivity stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total transaction of $450,320.67. Following the transaction, the senior vice president now owns 25,504 shares in the company, valued at approximately $3,942,663.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TE Connectivity

Institutional investors and hedge funds have recently modified their holdings of the stock. Simplicity Wealth LLC lifted its stake in shares of TE Connectivity by 2.7% in the 2nd quarter. Simplicity Wealth LLC now owns 2,509 shares of the electronics maker’s stock valued at $377,000 after purchasing an additional 67 shares during the last quarter. Silvercrest Asset Management Group LLC lifted its position in TE Connectivity by 2.3% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 2,977 shares of the electronics maker’s stock worth $432,000 after acquiring an additional 68 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its position in TE Connectivity by 3.9% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,835 shares of the electronics maker’s stock worth $267,000 after acquiring an additional 69 shares during the last quarter. Manchester Capital Management LLC lifted its position in TE Connectivity by 5.4% during the 1st quarter. Manchester Capital Management LLC now owns 1,427 shares of the electronics maker’s stock worth $207,000 after acquiring an additional 73 shares during the last quarter. Finally, Miracle Mile Advisors LLC lifted its position in TE Connectivity by 0.6% during the 1st quarter. Miracle Mile Advisors LLC now owns 13,326 shares of the electronics maker’s stock worth $1,935,000 after acquiring an additional 75 shares during the last quarter. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

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.