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

Stock analysts at StockNews.com initiated coverage on shares of TE Connectivity (NYSE:TEL) in a research report issued on Wednesday. The brokerage set a “buy” rating on the electronics maker’s stock.

A number of other brokerages also recently weighed in on TEL. HSBC downgraded TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price objective on the stock. in a research report on Wednesday, July 24th. Truist Financial raised their price target on shares of TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Robert W. Baird boosted their price objective on shares of TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Wells Fargo & Company lowered their target price on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a research note on Friday, September 20th. Finally, The Goldman Sachs Group reduced their price target on TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $161.82.

TE Connectivity Trading Down 0.6 %

TEL opened at $146.80 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.23. The stock’s fifty day moving average is $148.06 and its two-hundred day moving average is $148.25. The company has a market capitalization of $44.62 billion, a P/E ratio of 13.20, a PEG ratio of 1.92 and a beta of 1.33. TE Connectivity has a 52 week low of $115.00 and a 52 week high of $159.98.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share 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 during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the prior year, the business earned $1.77 earnings per share. TE Connectivity’s revenue was up .1% on a year-over-year basis. Analysts forecast that TE Connectivity will post 7.56 earnings per share for the current year.

Insiders Place Their Bets

In other TE Connectivity news, CFO Heath A. Mitts sold 59,700 shares of TE Connectivity stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $154.70, for a total transaction of $9,235,590.00. Following the completion of the sale, the chief financial officer now directly owns 38,073 shares in the company, valued at approximately $5,889,893.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, 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 transaction, the senior vice president now owns 25,504 shares in the company, valued at $3,942,663.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Heath A. Mitts sold 59,700 shares of TE Connectivity stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $154.70, for a total transaction of $9,235,590.00. Following the completion of the sale, the chief financial officer now owns 38,073 shares in the company, valued at approximately $5,889,893.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TE Connectivity

Several large investors have recently bought and sold shares of the company. Versant Capital Management Inc raised its position in shares of TE Connectivity by 209.8% in the second quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock valued at $28,000 after buying an additional 128 shares during the last quarter. Olistico Wealth LLC purchased a new stake in TE Connectivity during the 2nd quarter valued at about $30,000. Armstrong Advisory Group Inc. raised its holdings in TE Connectivity by 208.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock valued at $34,000 after acquiring an additional 150 shares during the last quarter. Bank & Trust Co acquired a new position in shares of TE Connectivity during the 2nd quarter worth approximately $35,000. Finally, Wolff Wiese Magana LLC grew its position in shares of TE Connectivity by 2,450.0% in the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock valued at $39,000 after purchasing an additional 245 shares in the last quarter. 91.43% of the stock is currently 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.