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

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

A number of other research analysts have also issued reports on TEL. Wolfe Research upgraded shares of TE Connectivity from a peer perform rating to an outperform rating in a report on Thursday, September 5th. Bank of America raised their target price on shares of TE Connectivity from $165.00 to $170.00 and gave the stock a buy rating in a research report on Thursday, July 18th. Vertical Research assumed coverage on TE Connectivity in a research note on Tuesday, July 23rd. They set a hold rating and a $155.00 price target on the stock. HSBC downgraded TE Connectivity from a buy rating to a hold rating and set a $162.00 price objective for the company. in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company reduced their target price on TE Connectivity from $155.00 to $153.00 and set an equal weight rating on the stock in a research report on Friday, September 20th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $158.73.

TE Connectivity Price Performance

TE Connectivity stock opened at $148.78 on Friday. The firm has a market capitalization of $45.56 billion, a PE ratio of 13.61, a P/E/G ratio of 1.98 and a beta of 1.33. TE Connectivity has a 52 week low of $115.00 and a 52 week high of $159.98. The firm’s 50-day simple moving average is $149.22 and its 200 day simple moving average is $147.59. The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.23.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.91 EPS for the quarter, beating the consensus estimate of $1.86 by $0.05. TE Connectivity had a net margin of 21.94% and a return on equity of 18.53%. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period in the prior year, the business earned $1.77 earnings per share. The company’s quarterly revenue was up .1% on a year-over-year basis. On average, equities research analysts predict that TE Connectivity will post 7.57 EPS for the current fiscal year.

Insider Activity at TE Connectivity

In other TE Connectivity news, SVP Robert J. Ott sold 2,913 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total transaction of $450,320.67. Following the completion of the sale, the senior vice president now directly owns 25,504 shares in the company, valued at $3,942,663.36. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other TE Connectivity news, SVP Robert J. Ott sold 2,913 shares of the business’s stock in a transaction dated 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 $3,942,663.36. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Heath A. Mitts sold 59,700 shares of the stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 38,073 shares of the company’s stock, valued at approximately $5,889,893.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,363 shares of company stock worth $11,042,161. Company insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TEL. Price T Rowe Associates Inc. MD boosted its position in 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 valued at $2,265,218,000 after buying an additional 5,526,230 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in TE Connectivity by 26.2% in the second quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock valued at $944,791,000 after purchasing an additional 1,304,199 shares during the last quarter. First Trust Advisors LP grew its stake in TE Connectivity by 150.9% during the 4th quarter. First Trust Advisors LP now owns 2,143,423 shares of the electronics maker’s stock valued at $301,151,000 after purchasing an additional 1,289,230 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in TE Connectivity by 238.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 719,354 shares of the electronics maker’s stock worth $108,212,000 after purchasing an additional 506,754 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of 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 purchasing an additional 403,750 shares in 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.