TE Connectivity (NYSE:TEL) Issues Quarterly Earnings Results

TE Connectivity (NYSE:TEL) posted its quarterly earnings results on Wednesday. The electronics maker reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.05, Briefing.com reports. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The business had revenue of $4 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period in the prior year, the business posted $1.77 earnings per share. The company’s revenue was up .1% on a year-over-year basis. TE Connectivity updated its Q4 2024 guidance to 1.940-1.940 EPS and its Q4 guidance to $1.94 EPS.

TE Connectivity Stock Down 1.5 %

Shares of TEL traded down $2.31 on Thursday, hitting $154.54. 2,566,137 shares of the stock traded hands, compared to its average volume of 1,974,361. The company has a market capitalization of $47.32 billion, a PE ratio of 14.30, a P/E/G ratio of 2.07 and a beta of 1.33. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.92 and a current ratio of 1.45. The business has a 50 day simple moving average of $151.06 and a 200 day simple moving average of $144.88. TE Connectivity has a one year low of $115.00 and a one year high of $159.98.

Insider Activity at TE Connectivity

In related news, insider Aaron Kyle Stucki sold 8,750 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Aaron Kyle Stucki sold 8,750 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shadrak W. Kroeger sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $149.86, for a total transaction of $749,300.00. Following the sale, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,892,763.36. The disclosure for this sale can be found here. Insiders sold 20,794 shares of company stock valued at $3,102,206 over the last 90 days. Corporate insiders own 0.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TEL. JPMorgan Chase & Co. dropped their target price on shares of TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Vertical Research initiated coverage on shares of TE Connectivity in a report on Tuesday. They issued a “hold” rating and a $155.00 price objective for the company. HSBC lowered shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price objective for the company. in a report on Wednesday. Hsbc Global Res upgraded shares of TE Connectivity to a “hold” rating in a report on Wednesday. Finally, Bank of America raised their price objective on shares of TE Connectivity from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $158.45.

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.