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

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

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. decreased their price target on TE Connectivity from $170.00 to $169.00 and set a neutral rating for the company in a research note on Thursday, April 25th. The Goldman Sachs Group reissued a buy rating on shares of TE Connectivity in a research note on Monday, April 1st. Bank of America lifted their target price on TE Connectivity from $165.00 to $170.00 and gave the company a buy rating in a research report on Thursday. 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 target price for the company. Finally, Robert W. Baird decreased their target price on TE Connectivity from $159.00 to $158.00 and set an outperform rating for the company in a research report on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, TE Connectivity presently has an average rating of Moderate Buy and a consensus target price of $156.78.

TE Connectivity Stock Performance

NYSE:TEL opened at $150.69 on Friday. The stock has a market capitalization of $46.15 billion, a P/E ratio of 13.79, a P/E/G ratio of 2.22 and a beta of 1.33. The stock has a 50-day moving average price of $150.80 and a 200 day moving average price of $144.52. 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 $159.75.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, April 24th. The electronics maker reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.03. The firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.96 billion. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The company’s quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.65 EPS. Equities research analysts forecast that TE Connectivity will post 7.51 EPS for the current fiscal year.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 5,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $149.86, for a total transaction of $749,300.00. Following the sale, the insider now owns 25,976 shares in the company, valued at approximately $3,892,763.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Mark Trudeau sold 7,044 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $141.49, for a total value of $996,655.56. Following the completion of the transaction, the director now owns 5,917 shares of the company’s stock, valued at approximately $837,196.33. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Shadrak W. Kroeger sold 5,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were 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 directly 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 90 days, insiders have sold 20,794 shares of company stock worth $3,102,206. 0.86% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TE Connectivity

Several institutional investors and hedge funds have recently modified their holdings of TEL. JFS Wealth Advisors LLC lifted its holdings in shares of TE Connectivity by 97.8% in the 4th quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock valued at $26,000 after buying an additional 91 shares during the period. Salem Investment Counselors Inc. lifted its holdings in shares of TE Connectivity by 112.4% in the 1st quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock valued at $27,000 after buying an additional 100 shares during the period. Versant Capital Management Inc lifted its holdings in shares of TE Connectivity by 209.8% in the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock valued at $28,000 after buying an additional 128 shares during the period. Bruce G. Allen Investments LLC acquired a new position in shares of TE Connectivity in the 4th quarter valued at about $30,000. Finally, Olistico Wealth LLC acquired a new position in shares of TE Connectivity in the 2nd quarter valued at about $30,000. 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.