TE Connectivity (NYSE:TEL) Now Covered by StockNews.com

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

Several other brokerages have also issued reports on TEL. JPMorgan Chase & Co. decreased their price target on shares of TE Connectivity from $170.00 to $169.00 and set a neutral rating for the company in a research note on Thursday, April 25th. Truist Financial increased their price objective on TE Connectivity from $151.00 to $156.00 and gave the company a hold rating in a report on Thursday, July 25th. HSBC lowered TE Connectivity from a buy rating to a hold rating and set a $162.00 target price on the stock. in a research note on Wednesday, July 24th. Bank of America increased their price target on TE Connectivity from $165.00 to $170.00 and gave the stock a buy rating in a research note on Thursday, July 18th. Finally, Vertical Research began coverage on TE Connectivity in a research note on Tuesday, July 23rd. They issued a hold rating and a $155.00 price objective on the stock. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, TE Connectivity has a consensus rating of Hold and a consensus price target of $158.45.

TE Connectivity Trading Down 1.8 %

Shares of TEL stock opened at $152.95 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.51. The company has a market capitalization of $46.84 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 2.13 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 company has a 50-day simple moving average of $151.34 and a two-hundred day simple moving average of $145.59.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.05. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. The company had revenue of $4 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the previous year, the business posted $1.77 EPS. The business’s revenue for the quarter was up .1% compared to the same quarter last year. Research analysts anticipate that TE Connectivity will post 7.55 EPS for the current fiscal year.

Insider Buying and Selling at TE Connectivity

In related news, insider Terrence R. Curtin 218,500 shares of the company’s stock in a transaction on Monday, July 29th. The was disclosed in a legal filing with the SEC, which is available through this link. In other TE Connectivity news, insider Shadrak W. Kroeger sold 5,000 shares of the firm’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 $3,892,763.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Terrence R. Curtin 218,500 shares of TE Connectivity stock in a transaction on Monday, July 29th. The disclosure for this trade can be found here. Insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On TE Connectivity

A number of large investors have recently modified their holdings of the company. Simplicity Wealth LLC grew its position in TE Connectivity by 2.7% during the second quarter. Simplicity Wealth LLC now owns 2,509 shares of the electronics maker’s stock valued at $377,000 after acquiring an additional 67 shares during the last quarter. Silvercrest Asset Management Group LLC raised its position in TE Connectivity by 2.3% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 2,977 shares of the electronics maker’s stock worth $432,000 after purchasing an additional 68 shares during the period. Dorsey & Whitney Trust CO LLC lifted its stake in TE Connectivity by 3.9% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,835 shares of the electronics maker’s stock worth $267,000 after purchasing an additional 69 shares during the last quarter. Manchester Capital Management LLC boosted its position in TE Connectivity by 5.4% during the first quarter. Manchester Capital Management LLC now owns 1,427 shares of the electronics maker’s stock valued at $207,000 after buying an additional 73 shares during the period. Finally, Lee Danner & Bass Inc. grew its stake in shares of TE Connectivity by 2.5% during the fourth quarter. Lee Danner & Bass Inc. now owns 3,085 shares of the electronics maker’s stock valued at $433,000 after buying an additional 74 shares during the last quarter. 91.43% of the stock is 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.