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

Equities research analysts at StockNews.com assumed coverage on shares of TE Connectivity (NYSE:TEL) in a note issued to investors on Thursday. The brokerage set a “buy” rating on the electronics maker’s stock.

A number of other research analysts have also recently issued reports on the stock. Truist Financial lifted their price target on shares of TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. 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 target price for the company. Wells Fargo & Company decreased 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. Bank of America lifted their target price on shares of TE Connectivity from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Finally, HSBC cut shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 target price for the company. in a report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $158.45.

TE Connectivity Trading Down 2.5 %

Shares of TEL opened at $143.38 on Thursday. The firm’s 50-day moving average price is $150.58 and its 200-day moving average price is $147.17. The firm has a market capitalization of $43.58 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 2.00 and a beta of 1.33. The company has a current ratio of 1.51, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23. TE Connectivity has a 1-year low of $115.00 and a 1-year high of $159.98.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.05. TE Connectivity had a net margin of 21.94% and a return on equity of 18.53%. The company had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same period last year, the company posted $1.77 EPS. TE Connectivity’s revenue was up .1% on a year-over-year basis. Sell-side analysts anticipate that TE Connectivity will post 7.57 EPS for the current year.

Insider Transactions at TE Connectivity

In related news, insider Aaron Kyle Stucki sold 8,750 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $155.00, for a total transaction of $1,356,250.00. Following the completion of the sale, the insider now directly owns 20,556 shares in the company, valued at $3,186,180. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Heath A. Mitts sold 59,700 shares of the business’s 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 completion of the sale, the chief financial officer now directly owns 38,073 shares in the company, valued at $5,889,893.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Aaron Kyle Stucki sold 8,750 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $155.00, for a total transaction of $1,356,250.00. Following the sale, the insider now owns 20,556 shares of the company’s stock, valued at $3,186,180. The disclosure for this sale can be found here. Insiders sold 71,363 shares of company stock worth $11,042,161 over the last three months. 0.86% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TE Connectivity

A number of hedge funds have recently modified their holdings of TEL. Price T Rowe Associates Inc. MD boosted its position in shares of TE Connectivity by 54.9% in the first 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 purchasing an additional 5,526,230 shares during the period. Norges Bank bought a new position in shares of TE Connectivity in the fourth quarter worth approximately $693,985,000. Ameriprise Financial Inc. boosted its position in shares of TE Connectivity by 26.2% in the second quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock worth $944,791,000 after purchasing an additional 1,304,199 shares during the period. First Trust Advisors LP boosted its position in shares of TE Connectivity by 150.9% in 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. Finally, Assenagon Asset Management S.A. boosted its position in shares of TE Connectivity by 1,000.5% in the first quarter. Assenagon Asset Management S.A. now owns 1,335,477 shares of the electronics maker’s stock worth $193,965,000 after purchasing an additional 1,214,122 shares during the period. 91.43% of the stock is currently 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.