TE Connectivity (NYSE:TEL) Research Coverage Started 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 firms also recently commented on TEL. Wolfe Research upgraded TE Connectivity from a peer perform rating to an outperform rating in a report on Thursday, September 5th. Vertical Research initiated 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. Robert W. Baird raised their price target on TE Connectivity from $162.00 to $170.00 and gave the stock an outperform rating in a research note on Thursday, July 25th. Hsbc Global Res upgraded TE Connectivity to a hold rating in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company dropped their price target on TE Connectivity from $155.00 to $153.00 and set an equal weight rating on the stock in a research note on Friday. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $158.73.

TE Connectivity Price Performance

TEL opened at $148.49 on Friday. The stock’s 50-day moving average price is $149.43 and its 200 day moving average price is $147.53. TE Connectivity has a 12-month low of $115.00 and a 12-month high of $159.98. The company has a current ratio of 1.51, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23. The firm has a market cap of $45.47 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 1.98 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $4.01 billion. During the same quarter in the prior year, the business earned $1.77 EPS. TE Connectivity’s revenue was up .1% on a year-over-year basis. As a group, sell-side analysts expect that TE Connectivity will post 7.57 earnings per share for the current year.

Insiders Place Their Bets

In other TE Connectivity news, SVP Robert J. Ott sold 2,913 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total transaction of $450,320.67. Following the completion of the transaction, the senior vice president now owns 25,504 shares of the company’s stock, valued at $3,942,663.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Robert J. Ott sold 2,913 shares of TE Connectivity stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total value of $450,320.67. Following the completion of the sale, the senior vice president now owns 25,504 shares of the company’s stock, valued at $3,942,663.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Heath A. Mitts sold 59,700 shares of TE Connectivity stock in a transaction on 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 directly 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 90 days, insiders sold 71,363 shares of company stock valued at $11,042,161. Corporate insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new position in TE Connectivity in the second quarter valued at $4,112,000. Cetera Investment Advisers boosted its holdings in TE Connectivity by 15.8% in the second quarter. Cetera Investment Advisers now owns 47,403 shares of the electronics maker’s stock valued at $7,131,000 after acquiring an additional 6,481 shares during the last quarter. 3Chopt Investment Partners LLC acquired a new position in TE Connectivity in the second quarter valued at $222,000. Point72 Asset Management L.P. lifted its stake in shares of TE Connectivity by 238.4% during the second 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 in the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its stake in shares of TE Connectivity by 26.6% during the second quarter. B. Riley Wealth Advisors Inc. now owns 12,235 shares of the electronics maker’s stock worth $1,841,000 after purchasing an additional 2,570 shares in the last quarter. 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.