TE Connectivity (NYSE:TEL) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of TE Connectivity (NYSE:TEL) in a note issued to investors on Sunday. The brokerage set a “buy” rating on the electronics maker’s stock.

TEL has been the topic of a number of other reports. HSBC cut TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 target price on the stock. in a research note on Wednesday, July 24th. Wolfe Research raised shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. 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 research note on Thursday, July 25th. Hsbc Global Res upgraded TE Connectivity to a “hold” rating in a research report on Wednesday, July 24th. Finally, Vertical Research started coverage on TE Connectivity in a research report on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $158.73.

TE Connectivity Trading Up 1.1 %

TE Connectivity stock opened at $151.22 on Friday. TE Connectivity has a 1 year low of $115.00 and a 1 year high of $159.98. The firm’s 50-day moving average is $148.86 and its 200-day moving average is $147.66. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.51. The company has a market cap of $45.96 billion, a P/E ratio of 13.84, a PEG ratio of 2.02 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.05. The firm had revenue of $4 billion for the quarter, compared to analysts’ expectations of $4.01 billion. TE Connectivity had a net margin of 21.94% and a return on equity of 18.53%. TE Connectivity’s revenue was up .1% on a year-over-year basis. During the same quarter last year, the company posted $1.77 earnings per share. On average, equities analysts expect that TE Connectivity will post 7.57 earnings per share for the current year.

Insider Activity at TE Connectivity

In related news, 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 sale, the senior vice president now directly owns 25,504 shares in the company, valued at approximately $3,942,663.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Heath A. Mitts sold 59,700 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer now owns 38,073 shares in the company, valued at approximately $5,889,893.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Robert J. Ott sold 2,913 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total value of $450,320.67. Following the sale, the senior vice president now owns 25,504 shares in the company, valued at approximately $3,942,663.36. The disclosure for this sale can be found here. Insiders sold 71,363 shares of company stock valued at $11,042,161 over the last 90 days. 0.86% of the stock is currently owned by corporate insiders.

Institutional Trading of TE Connectivity

Several large investors have recently added to or reduced their stakes in TEL. Cambridge Investment Research Advisors Inc. lifted its position in shares of TE Connectivity by 28.1% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 17,528 shares of the electronics maker’s stock worth $2,463,000 after purchasing an additional 3,845 shares in the last quarter. Qtron Investments LLC purchased a new stake in TE Connectivity in the 4th quarter worth approximately $295,000. Bank of Nova Scotia boosted its stake in shares of TE Connectivity by 40.8% during the 4th quarter. Bank of Nova Scotia now owns 38,671 shares of the electronics maker’s stock valued at $5,433,000 after buying an additional 11,206 shares during the period. California State Teachers Retirement System grew its holdings in shares of TE Connectivity by 7.5% during the 4th quarter. California State Teachers Retirement System now owns 460,647 shares of the electronics maker’s stock valued at $64,721,000 after acquiring an additional 32,146 shares in the last quarter. Finally, APG Asset Management US Inc. acquired a new position in shares of TE Connectivity in the fourth quarter worth $8,860,000. 91.43% of the stock is owned by institutional investors and hedge funds.

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.