TE Connectivity (NYSE:TEL) Downgraded to “Buy” Rating by StockNews.com

StockNews.com lowered shares of TE Connectivity (NYSE:TEL) from a strong-buy rating to a buy rating in a research report report published on Friday.

Several other equities analysts have also recently commented on TEL. Truist Financial decreased their price target on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Robert W. Baird raised their price target on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Bank of America raised their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Wells Fargo & Company raised their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. Finally, Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, TE Connectivity presently has a consensus rating of “Hold” and an average price target of $167.00.

TE Connectivity Stock Up 1.5 %

TE Connectivity stock opened at $154.10 on Friday. TE Connectivity has a fifty-two week low of $137.61 and a fifty-two week high of $159.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The firm has a 50 day moving average price of $147.87 and a 200 day moving average price of $148.72. The company has a market capitalization of $45.97 billion, a PE ratio of 24.62, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter last year, the firm earned $1.84 EPS. The firm’s revenue for the quarter was up .1% on a year-over-year basis. Research analysts expect that TE Connectivity will post 8.05 earnings per share for the current year.

Insider Transactions at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity stock in a transaction on Monday, January 27th. The shares were sold at an average price of $151.13, for a total transaction of $587,744.57. Following the sale, the insider now directly owns 25,976 shares in the company, valued at $3,925,752.88. This trade represents a 13.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On TE Connectivity

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Azzad Asset Management Inc. ADV raised its stake in TE Connectivity by 2.5% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 18,891 shares of the electronics maker’s stock worth $2,701,000 after acquiring an additional 469 shares in the last quarter. Jefferies Financial Group Inc. raised its stake in TE Connectivity by 2,334.5% during the 4th quarter. Jefferies Financial Group Inc. now owns 32,500 shares of the electronics maker’s stock worth $4,647,000 after acquiring an additional 31,165 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its stake in TE Connectivity by 2.2% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 12,732 shares of the electronics maker’s stock worth $1,820,000 after acquiring an additional 274 shares in the last quarter. Integrated Advisors Network LLC raised its stake in TE Connectivity by 2.4% during the 4th quarter. Integrated Advisors Network LLC now owns 4,368 shares of the electronics maker’s stock worth $624,000 after acquiring an additional 101 shares in the last quarter. Finally, Pacific Point Advisors LLC acquired a new stake in TE Connectivity during the 4th quarter worth $210,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

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.