StockNews.com Initiates Coverage on TE Connectivity (NYSE:TEL)

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

Several other brokerages have also commented on TEL. Jefferies Financial Group began coverage on TE Connectivity in a research note on Tuesday, April 9th. They set a “buy” rating and a $180.00 price target on the stock. The Goldman Sachs Group reissued a “buy” rating on shares of TE Connectivity in a report on Monday, April 1st. Robert W. Baird cut their target price on shares of TE Connectivity from $159.00 to $158.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Stifel Nicolaus increased their price target on shares of TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Finally, JPMorgan Chase & Co. cut their price objective on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $153.89.

TE Connectivity Stock Performance

NYSE TEL opened at $146.10 on Wednesday. The company has a current ratio of 1.45, a quick ratio of 0.92 and a debt-to-equity ratio of 0.24. TE Connectivity has a 12-month low of $115.00 and a 12-month high of $147.98. The stock has a market capitalization of $44.74 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 2.09 and a beta of 1.36. The business’s 50 day moving average is $142.48 and its two-hundred day moving average is $137.35.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, April 24th. The electronics maker reported $1.86 EPS for the quarter, topping the consensus estimate of $1.83 by $0.03. The company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.96 billion. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The business’s revenue was down 4.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.65 EPS. Research analysts expect that TE Connectivity will post 7.51 EPS for the current year.

Insider Buying and Selling

In other TE Connectivity news, Director Mark Trudeau sold 7,044 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $141.49, for a total transaction of $996,655.56. Following the completion of the sale, the director now directly owns 5,917 shares in the company, valued at $837,196.33. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.86% of the company’s stock.

Institutional Trading of TE Connectivity

Several large investors have recently added to or reduced their stakes in TEL. JFS Wealth Advisors LLC boosted its position in shares of TE Connectivity by 97.8% in the fourth quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock worth $26,000 after buying an additional 91 shares during the period. Salem Investment Counselors Inc. boosted its holdings in TE Connectivity by 112.4% in the 1st quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock worth $27,000 after acquiring an additional 100 shares during the period. Jones Financial Companies Lllp grew its position in 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 in the last quarter. Bruce G. Allen Investments LLC purchased a new stake in shares of TE Connectivity during the fourth quarter valued at approximately $30,000. Finally, Godsey & Gibb Inc. lifted its position in shares of TE Connectivity by 103.6% during the first quarter. Godsey & Gibb Inc. now owns 224 shares of the electronics maker’s stock worth $33,000 after purchasing an additional 114 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

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.