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

StockNews.com began coverage on shares of TE Connectivity (NYSE:TEL) in a research report report published on Monday morning. The firm issued a buy rating on the electronics maker’s stock.

Several other analysts have also recently weighed in on TEL. Hsbc Global Res upgraded TE Connectivity to a hold rating in a report on Wednesday, July 24th. Vertical Research began coverage on TE Connectivity in a report on Tuesday, July 23rd. They set a hold rating and a $155.00 price target on the stock. Truist Financial boosted their price target on TE Connectivity from $151.00 to $156.00 and gave the stock a hold rating in a report on Thursday, July 25th. HSBC cut TE Connectivity from a buy rating to a hold rating and set a $162.00 price target on the stock. in a report on Wednesday, July 24th. Finally, Robert W. Baird boosted their price target on TE Connectivity from $162.00 to $170.00 and gave the stock an outperform rating in a report on Thursday, July 25th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Hold and an average target price of $161.82.

TE Connectivity Stock Performance

TE Connectivity stock opened at $146.39 on Monday. TE Connectivity has a 12-month low of $115.00 and a 12-month high of $159.98. 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 business’s 50-day moving average price is $147.62 and its two-hundred day moving average price is $148.02. The stock has a market cap of $44.49 billion, a PE ratio of 13.49 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $4 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter in the previous year, the business posted $1.77 earnings per share. The business’s revenue for the quarter was up .1% on a year-over-year basis. As a group, analysts expect that TE Connectivity will post 7.57 earnings per share for the current fiscal year.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, CFO Heath A. Mitts sold 59,700 shares of the business’s stock in a transaction that occurred on 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 approximately $5,889,893.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other TE Connectivity news, CFO Heath A. Mitts sold 59,700 shares of the business’s stock in a transaction that occurred on 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 approximately $5,889,893.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Robert J. Ott sold 2,913 shares of the business’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 completion of the transaction, the senior vice president now directly owns 25,504 shares in the company, valued at approximately $3,942,663.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On TE Connectivity

Hedge funds and other institutional investors have recently modified their holdings of the company. Salem Investment Counselors Inc. increased its holdings in shares of TE Connectivity by 112.4% during the first quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock valued at $27,000 after acquiring an additional 100 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of TE Connectivity by 209.8% during the second quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock valued at $28,000 after acquiring an additional 128 shares in the last quarter. Olistico Wealth LLC bought a new stake in shares of TE Connectivity during the second quarter valued at approximately $30,000. Bank & Trust Co bought a new stake in shares of TE Connectivity during the second quarter valued at approximately $35,000. Finally, Rise Advisors LLC bought a new stake in shares of TE Connectivity during the first quarter valued at approximately $40,000. Institutional investors 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.