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

Analysts at StockNews.com initiated coverage on shares of TE Connectivity (NYSE:TEL) in a research note issued on Thursday. The firm set a “buy” rating on the electronics maker’s stock.

Other research analysts have also recently issued research reports about the stock. Wells Fargo & Company dropped their target price on shares of TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating for the company in a report on Tuesday, June 25th. Jefferies Financial Group began coverage on shares of TE Connectivity in a report on Tuesday, April 9th. They set a “buy” rating and a $180.00 price target for the company. JPMorgan Chase & Co. lowered their target price on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. The Goldman Sachs Group reissued a “buy” rating on shares of TE Connectivity in a report on Monday, April 1st. Finally, Robert W. Baird dropped their price target on shares of 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 research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.13.

TE Connectivity Price Performance

TEL stock opened at $155.81 on Thursday. The company’s 50-day moving average price is $149.65 and its two-hundred day moving average price is $143.90. TE Connectivity has a 12 month low of $115.00 and a 12 month high of $157.42. The company has a quick ratio of 0.92, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. The firm has a market cap of $47.71 billion, a P/E ratio of 14.26, a P/E/G ratio of 2.26 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $1.86 EPS for the quarter, beating the consensus estimate of $1.83 by $0.03. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the previous year, the business earned $1.65 earnings per share. The company’s revenue was down 4.6% on a year-over-year basis. On average, analysts anticipate that TE Connectivity will post 7.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Aaron Kyle Stucki sold 8,750 shares of the business’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $155.00, for a total value of $1,356,250.00. Following the transaction, the insider now directly owns 20,556 shares of the company’s stock, valued at approximately $3,186,180. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Aaron Kyle Stucki sold 8,750 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $155.00, for a total transaction of $1,356,250.00. Following the transaction, the insider now directly owns 20,556 shares of the company’s stock, valued at approximately $3,186,180. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Shadrak W. Kroeger sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $149.86, for a total value of $749,300.00. Following the sale, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,892,763.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,794 shares of company stock worth $3,102,206. Company insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of TE Connectivity by 54.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker’s stock worth $2,265,218,000 after buying an additional 5,526,230 shares during the last quarter. Norges Bank bought a new stake in TE Connectivity in the fourth quarter worth about $693,985,000. Massachusetts Financial Services Co. MA increased its stake in shares of TE Connectivity by 2.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,632,809 shares of the electronics maker’s stock worth $650,910,000 after purchasing an additional 111,340 shares during the last quarter. Impax Asset Management Group plc raised its stake in shares of TE Connectivity by 1.4% in the fourth quarter. Impax Asset Management Group plc now owns 3,774,896 shares of the electronics maker’s stock valued at $529,798,000 after buying an additional 51,866 shares during the period. Finally, Wellington Management Group LLP raised its stake in TE Connectivity by 12.5% in the 4th quarter. Wellington Management Group LLP now owns 3,630,003 shares of the electronics maker’s stock valued at $510,015,000 after acquiring an additional 403,750 shares during the period. 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.