TE Connectivity (NYSE:TEL) Research Coverage Started at StockNews.com

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

A number of other analysts have also recently weighed in on the company. Citigroup started coverage on TE Connectivity in a research report on Friday, January 5th. They issued a neutral rating and a $146.00 price target on the stock. The Goldman Sachs Group restated a buy rating on shares of TE Connectivity in a report on Monday, April 1st. JPMorgan Chase & Co. increased their target price on TE Connectivity from $169.00 to $170.00 and gave the stock a neutral rating in a report on Thursday, April 11th. Jefferies Financial Group started coverage on TE Connectivity in a report on Tuesday, April 9th. They set a buy rating and a $180.00 target price on the stock. Finally, Robert W. Baird increased their target price on TE Connectivity from $147.00 to $155.00 and gave the stock an outperform rating in a report on Thursday, January 25th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $153.30.

TE Connectivity Stock Performance

Shares of NYSE:TEL opened at $143.77 on Monday. The business’s fifty day moving average price is $142.66 and its two-hundred day moving average price is $135.86. TE Connectivity has a fifty-two week low of $115.00 and a fifty-two week high of $147.98. The stock has a market capitalization of $44.68 billion, a price-to-earnings ratio of 13.64, a price-to-earnings-growth ratio of 2.00 and a beta of 1.39. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.86 and a quick ratio of 1.16.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.13. TE Connectivity had a return on equity of 18.93% and a net margin of 20.69%. The firm had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same period in the prior year, the business posted $1.53 earnings per share. The business’s revenue was down .3% compared to the same quarter last year. As a group, analysts predict that TE Connectivity will post 7.59 EPS for the current fiscal year.

TE Connectivity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s payout ratio is 22.39%.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of the stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $144.00, for a total value of $14,367,888.00. Following the transaction, the insider now owns 30,459 shares of the company’s stock, valued at $4,386,096. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On TE Connectivity

Several hedge funds have recently added to or reduced their stakes in TEL. Norges Bank acquired a new position in TE Connectivity in the fourth quarter valued at about $693,985,000. Qube Research & Technologies Ltd acquired a new stake in shares of TE Connectivity during the third quarter worth about $165,640,000. First Trust Advisors LP raised its position in shares of TE Connectivity by 150.9% during the fourth quarter. First Trust Advisors LP now owns 2,143,423 shares of the electronics maker’s stock worth $301,151,000 after purchasing an additional 1,289,230 shares during the period. Assenagon Asset Management S.A. raised its position in shares of TE Connectivity by 273.5% during the third quarter. Assenagon Asset Management S.A. now owns 651,291 shares of the electronics maker’s stock worth $80,454,000 after purchasing an additional 476,929 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of TE Connectivity by 12.5% during the fourth quarter. Wellington Management Group LLP now owns 3,630,003 shares of the electronics maker’s stock worth $510,015,000 after purchasing an additional 403,750 shares during the period. Institutional investors and hedge funds 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.