TE Connectivity Ltd. (NYSE:TEL) Receives Average Recommendation of “Hold” from Brokerages

Shares of TE Connectivity Ltd. (NYSE:TEL) have been given a consensus recommendation of “Hold” by the thirteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $162.27.

A number of equities analysts have issued reports on TEL shares. Truist Financial lifted their target price on shares of TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Hsbc Global Res raised TE Connectivity to a “hold” rating in a research note on Wednesday, July 24th. Bank of America raised their price target on TE Connectivity from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Vertical Research initiated coverage on TE Connectivity in a research report on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 price objective on the stock. Finally, Robert W. Baird increased their price objective on TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th.

TE Connectivity Price Performance

TEL stock opened at $145.45 on Tuesday. The company has a market cap of $44.54 billion, a price-to-earnings ratio of 13.31 and a beta of 1.33. 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 50 day moving average of $148.12 and a 200-day moving average of $147.95. TE Connectivity has a 12-month low of $115.00 and a 12-month high of $159.98.

TE Connectivity (NYSE:TEL) last posted 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. The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.01 billion. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. TE Connectivity’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.77 earnings per share. As a group, equities analysts expect that TE Connectivity will post 7.57 EPS for the current fiscal year.

Insider Activity

In related news, SVP Robert J. Ott sold 2,913 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total value of $450,320.67. Following the sale, the senior vice president now directly owns 25,504 shares of the company’s stock, valued at approximately $3,942,663.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Heath A. Mitts sold 59,700 shares of TE Connectivity stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $154.70, for a total value of $9,235,590.00. Following the transaction, the chief financial officer now directly owns 38,073 shares of the company’s stock, valued at $5,889,893.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Robert J. Ott sold 2,913 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 25,504 shares of the company’s stock, valued at approximately $3,942,663.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,363 shares of company stock valued at $11,042,161 in the last 90 days. 0.86% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TEL. Cambridge Investment Research Advisors Inc. raised its stake in shares of TE Connectivity by 28.1% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 17,528 shares of the electronics maker’s stock valued at $2,463,000 after acquiring an additional 3,845 shares during the period. Bank of Nova Scotia increased its holdings in TE Connectivity by 40.8% in the 4th quarter. Bank of Nova Scotia now owns 38,671 shares of the electronics maker’s stock valued at $5,433,000 after purchasing an additional 11,206 shares in the last quarter. California State Teachers Retirement System lifted its stake in shares of TE Connectivity by 7.5% during the fourth quarter. California State Teachers Retirement System now owns 460,647 shares of the electronics maker’s stock worth $64,721,000 after purchasing an additional 32,146 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of TE Connectivity by 4.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 681,392 shares of the electronics maker’s stock worth $95,736,000 after buying an additional 29,334 shares during the period. Finally, NEOS Investment Management LLC grew its stake in shares of TE Connectivity by 46.6% in the fourth quarter. NEOS Investment Management LLC now owns 4,395 shares of the electronics maker’s stock valued at $617,000 after buying an additional 1,397 shares in the last quarter. 91.43% of the stock is 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.