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

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

TEL has been the subject of several other research reports. Robert W. Baird raised their target price on TE Connectivity from $162.00 to $170.00 and gave the stock an outperform rating in a research note on Thursday, July 25th. Vertical Research assumed coverage on shares of TE Connectivity in a research report on Tuesday, July 23rd. They issued a hold rating and a $155.00 price objective for the company. Wells Fargo & Company reduced their price objective 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. Hsbc Global Res upgraded shares of TE Connectivity to a hold rating in a research note on Wednesday, July 24th. Finally, Bank of America boosted their price target on shares of TE Connectivity from $165.00 to $170.00 and gave the company a buy rating in a research report on Thursday, July 18th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of Hold and an average target price of $158.73.

TE Connectivity Price Performance

TEL opened at $151.22 on Friday. The firm has a 50-day moving average price of $148.86 and a 200-day moving average price of $147.76. TE Connectivity has a twelve month low of $115.00 and a twelve 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 company has a market capitalization of $45.96 billion, a price-to-earnings 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, beating analysts’ consensus estimates of $1.86 by $0.05. TE Connectivity had a net margin of 21.94% and a return on equity of 18.53%. The business 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 firm posted $1.77 EPS. The business’s revenue for the quarter was up .1% compared to the same quarter last year. Equities analysts expect that TE Connectivity will post 7.57 EPS for the current year.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Aaron Kyle Stucki sold 8,750 shares of TE Connectivity stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $155.00, for a total transaction of $1,356,250.00. Following the completion of the sale, the insider now owns 20,556 shares of the company’s stock, valued at $3,186,180. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other TE Connectivity news, CFO Heath A. Mitts sold 59,700 shares of the 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 transaction, the chief financial officer now directly owns 38,073 shares in the company, valued at $5,889,893.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Aaron Kyle Stucki sold 8,750 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $155.00, for a total transaction of $1,356,250.00. Following the completion of the sale, the insider now owns 20,556 shares of the company’s stock, valued at $3,186,180. The disclosure for this sale can be found here. Insiders have sold a total of 71,363 shares of company stock valued at $11,042,161 over the last 90 days. 0.86% of the stock is owned by insiders.

Hedge Funds Weigh In On TE Connectivity

Institutional investors and hedge funds have recently made changes to their positions in the business. Sanctuary Advisors LLC bought a new position in shares of TE Connectivity during the second quarter valued at about $4,112,000. Cetera Investment Advisers grew its position in TE Connectivity by 15.8% during the 2nd quarter. Cetera Investment Advisers now owns 47,403 shares of the electronics maker’s stock worth $7,131,000 after acquiring an additional 6,481 shares during the last quarter. 3Chopt Investment Partners LLC purchased a new position in TE Connectivity in the 2nd quarter worth approximately $222,000. Point72 Asset Management L.P. lifted its position in TE Connectivity by 238.4% in the second quarter. Point72 Asset Management L.P. now owns 719,354 shares of the electronics maker’s stock valued at $108,212,000 after purchasing an additional 506,754 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its holdings in shares of TE Connectivity by 26.6% in the second quarter. B. Riley Wealth Advisors Inc. now owns 12,235 shares of the electronics maker’s stock worth $1,841,000 after purchasing an additional 2,570 shares during the last quarter. Institutional investors own 91.43% of the company’s stock.

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.