TE Connectivity (NYSE:TEL) Now Covered by StockNews.com

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

A number of other research analysts also recently weighed in on TEL. Truist Financial increased their price target on TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. JPMorgan Chase & Co. boosted their target price on TE Connectivity from $169.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Robert W. Baird increased their price target on shares of TE Connectivity from $147.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. The Goldman Sachs Group restated a “buy” rating on shares of TE Connectivity in a report on Monday, April 1st. Finally, Stifel Nicolaus increased their target price on shares of TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $153.30.

TE Connectivity Price Performance

TEL opened at $143.14 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.86 and a quick ratio of 1.16. The stock has a market capitalization of $44.49 billion, a P/E ratio of 13.58, a price-to-earnings-growth ratio of 2.00 and a beta of 1.39. The company’s 50 day simple moving average is $142.71 and its 200-day simple moving average is $136.00. TE Connectivity has a one year low of $115.00 and a one year high of $147.98.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.13. TE Connectivity had a return on equity of 18.93% and a net margin of 20.69%. The firm had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.87 billion. During the same period in the previous year, the business posted $1.53 EPS. The company’s quarterly revenue was down .3% compared to the same quarter last year. Sell-side analysts anticipate that TE Connectivity will post 7.59 earnings per share for the current fiscal year.

Insider Buying and Selling at TE Connectivity

In other news, insider Steven T. Merkt sold 99,777 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $144.00, for a total transaction of $14,367,888.00. Following the completion of the transaction, the insider now directly owns 30,459 shares of the company’s stock, valued at $4,386,096. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On TE Connectivity

Hedge funds have recently made changes to their positions in the business. JFS Wealth Advisors LLC grew its position in TE Connectivity by 97.8% in the fourth quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock valued at $26,000 after purchasing an additional 91 shares in the last quarter. Salem Investment Counselors Inc. grew its holdings in shares of TE Connectivity by 112.4% in the 1st 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. Jones Financial Companies Lllp increased its position in shares of TE Connectivity by 358.5% in the third quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker’s stock valued at $30,000 after acquiring an additional 190 shares during the last quarter. Bruce G. Allen Investments LLC bought a new stake in TE Connectivity during the fourth quarter worth about $30,000. Finally, Godsey & Gibb Inc. boosted its position in TE Connectivity by 103.6% during the first quarter. Godsey & Gibb Inc. now owns 224 shares of the electronics maker’s stock valued at $33,000 after purchasing an additional 114 shares during the last quarter. 91.43% of the stock is owned by 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.