StockNews.com Begins Coverage on TE Connectivity (NYSE:TEL)

Equities researchers at StockNews.com assumed coverage on shares of TE Connectivity (NYSE:TEL) in a report issued on Wednesday. The firm set a “buy” rating on the electronics maker’s stock.

Several other equities research analysts have also issued reports on the company. Wells Fargo & Company dropped their price target on TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 25th. Robert W. Baird lowered their price objective on shares of TE Connectivity from $159.00 to $158.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. JPMorgan Chase & Co. reduced their target price on shares of TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. The Goldman Sachs Group restated a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. Finally, Jefferies Financial Group initiated coverage on TE Connectivity in a research note on Tuesday, April 9th. They issued a “buy” rating and a $180.00 target price for the company. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $155.13.

TE Connectivity Stock Up 1.0 %

Shares of NYSE TEL opened at $149.94 on Wednesday. The business has a 50-day simple moving average of $147.82 and a two-hundred day simple moving average of $143.27. TE Connectivity has a 52 week low of $115.00 and a 52 week high of $153.54. The company has a market cap of $45.92 billion, a P/E ratio of 13.72, a P/E/G ratio of 2.22 and a beta of 1.33. The company has a quick ratio of 0.92, a current ratio of 1.45 and a debt-to-equity ratio of 0.24.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.03. The firm had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.96 billion. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The business’s quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.65 earnings per share. Research analysts anticipate that TE Connectivity will post 7.5 earnings per share for the current fiscal year.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 5,000 shares of TE Connectivity stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $149.86, for a total value of $749,300.00. Following the sale, the insider now directly owns 25,976 shares in the company, valued at approximately $3,892,763.36. The sale was disclosed in a filing with the SEC, which is available through this link. In other TE Connectivity news, Director Mark Trudeau sold 7,044 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $141.49, for a total transaction of $996,655.56. Following the completion of the transaction, the director now owns 5,917 shares of the company’s stock, valued at $837,196.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shadrak W. Kroeger sold 5,000 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were 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 disclosure for this sale can be found here. 0.86% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TEL. AQR Capital Management LLC boosted its holdings in TE Connectivity by 21.7% in the third quarter. AQR Capital Management LLC now owns 210,298 shares of the electronics maker’s stock worth $25,978,000 after purchasing an additional 37,486 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of TE Connectivity by 48.1% during the third quarter. Advisors Asset Management Inc. now owns 16,175 shares of the electronics maker’s stock valued at $1,998,000 after buying an additional 5,257 shares during the last quarter. Alps Advisors Inc. grew its holdings in TE Connectivity by 2.8% during the 3rd quarter. Alps Advisors Inc. now owns 18,313 shares of the electronics maker’s stock valued at $2,262,000 after buying an additional 499 shares in the last quarter. Evergreen Capital Management LLC increased its stake in TE Connectivity by 9.2% during the third quarter. Evergreen Capital Management LLC now owns 3,109 shares of the electronics maker’s stock worth $384,000 after acquiring an additional 263 shares during the last quarter. Finally, Lido Advisors LLC lifted its position in TE Connectivity by 29.8% in the third quarter. Lido Advisors LLC now owns 4,568 shares of the electronics maker’s stock worth $564,000 after buying an additional 1,050 shares during the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Company Profile

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.