TE Connectivity (NYSE:TEL) Receives New Coverage from Analysts at StockNews.com

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

Several other research analysts also recently issued reports on the stock. Hsbc Global Res raised shares of TE Connectivity to a hold rating in a research report on Wednesday, July 24th. Robert W. Baird raised their price objective on shares of TE Connectivity from $162.00 to $170.00 and gave the stock an outperform rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. reduced their target price on shares of TE Connectivity from $170.00 to $169.00 and set a neutral rating for the company in a research note on Thursday, April 25th. Jefferies Financial Group began coverage on shares of TE Connectivity in a research note on Tuesday, April 9th. They issued a buy rating and a $180.00 target price for the company. Finally, HSBC cut shares of TE Connectivity from a buy rating to a hold rating and set a $162.00 target price for the company. in a research note on Wednesday, July 24th. 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 data from MarketBeat, TE Connectivity has an average rating of Hold and a consensus price target of $158.45.

TE Connectivity Stock Down 1.3 %

Shares of NYSE TEL traded down $1.96 during mid-day trading on Friday, reaching $143.44. The company had a trading volume of 2,108,410 shares, compared to its average volume of 1,963,044. The company has a current ratio of 1.51, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23. The firm has a 50 day simple moving average of $151.29 and a two-hundred day simple moving average of $146.00. The stock has a market cap of $43.59 billion, a P/E ratio of 13.30, a PEG ratio of 1.98 and a beta of 1.33. TE Connectivity has a 52-week low of $115.00 and a 52-week high of $159.98.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.05. The firm had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.01 billion. TE Connectivity had a net margin of 21.94% and a return on equity of 18.53%. The company’s revenue was up .1% on a year-over-year basis. During the same period last year, the firm posted $1.77 EPS. Sell-side analysts predict that TE Connectivity will post 7.56 earnings per share for the current year.

Insider Activity at TE Connectivity

In other TE Connectivity news, SVP Robert J. Ott sold 2,913 shares of TE Connectivity stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total transaction of $450,320.67. Following the completion of the transaction, the senior vice president now owns 25,504 shares in the company, valued at $3,942,663.36. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Shadrak W. Kroeger sold 5,000 shares of TE Connectivity stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $149.86, for a total transaction of $749,300.00. Following the completion of the sale, the insider now directly owns 25,976 shares in the company, valued at $3,892,763.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Robert J. Ott sold 2,913 shares of TE Connectivity stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total transaction of $450,320.67. Following the sale, the senior vice president now owns 25,504 shares of the company’s stock, valued at $3,942,663.36. The disclosure for this sale can be found here. Insiders sold 76,363 shares of company stock worth $11,791,461 over the last 90 days. Company insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On TE Connectivity

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of TE Connectivity by 54.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker’s stock worth $2,265,218,000 after buying an additional 5,526,230 shares in the last quarter. Norges Bank purchased a new stake in TE Connectivity in the fourth quarter valued at approximately $693,985,000. Massachusetts Financial Services Co. MA grew its holdings in TE Connectivity by 2.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,632,809 shares of the electronics maker’s stock valued at $650,910,000 after purchasing an additional 111,340 shares during the period. Impax Asset Management Group plc grew its holdings in TE Connectivity by 1.4% in the fourth quarter. Impax Asset Management Group plc now owns 3,774,896 shares of the electronics maker’s stock valued at $529,798,000 after purchasing an additional 51,866 shares during the period. Finally, Wellington Management Group LLP grew its holdings in TE Connectivity by 12.5% in the fourth quarter. Wellington Management Group LLP now owns 3,630,003 shares of the electronics maker’s stock valued at $510,015,000 after purchasing an additional 403,750 shares during the period. 91.43% of the stock is currently owned by hedge funds and other 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.