StockNews.com Initiates Coverage on TE Connectivity (NYSE:TEL)

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

Several other equities research analysts also recently issued reports on TEL. JPMorgan Chase & Co. cut their price target on TE Connectivity from $170.00 to $169.00 and set a neutral rating for the company in a report on Thursday, April 25th. Robert W. Baird cut their price target on TE Connectivity from $159.00 to $158.00 and set an outperform rating for the company in a report on Thursday, April 25th. Jefferies Financial Group started coverage on TE Connectivity in a research report on Tuesday, April 9th. They set a buy rating and a $180.00 price objective on the stock. Finally, The Goldman Sachs Group reiterated a buy rating on shares of TE Connectivity in a research report on Monday, April 1st. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $153.89.

TE Connectivity Trading Up 0.7 %

NYSE TEL opened at $151.18 on Monday. The company has a market cap of $46.30 billion, a PE ratio of 13.83, a PEG ratio of 2.22 and a beta of 1.35. The company has a current ratio of 1.45, a quick ratio of 0.92 and a debt-to-equity ratio of 0.24. TE Connectivity has a 12 month low of $115.00 and a 12 month high of $152.79. The stock has a 50 day moving average of $146.66 and a 200-day moving average of $142.35.

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

Insider Buying and Selling

In related news, Director Mark Trudeau sold 7,044 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $141.49, for a total value of $996,655.56. Following the transaction, the director now owns 5,917 shares in the company, valued at $837,196.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Mark Trudeau sold 7,044 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $141.49, for a total value of $996,655.56. Following the transaction, the director now owns 5,917 shares in the company, valued at $837,196.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shadrak W. Kroeger sold 5,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $149.86, for a total value of $749,300.00. Following the completion of the transaction, the insider now owns 25,976 shares in the company, valued at approximately $3,892,763.36. The disclosure for this sale can be found here. 0.86% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its position in 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 valued at $2,265,218,000 after acquiring an additional 5,526,230 shares during the last quarter. Norges Bank bought a new position in TE Connectivity in the fourth quarter valued at about $693,985,000. Massachusetts Financial Services Co. MA grew its position in TE Connectivity by 2.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,632,809 shares of the electronics maker’s stock valued at $650,910,000 after acquiring an additional 111,340 shares during the last quarter. Impax Asset Management Group plc grew its position in 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 acquiring an additional 51,866 shares during the last quarter. Finally, Morgan Stanley grew its position in TE Connectivity by 11.7% in the third quarter. Morgan Stanley now owns 3,738,943 shares of the electronics maker’s stock valued at $461,872,000 after acquiring an additional 390,723 shares during the last quarter. Institutional investors 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.