TE Connectivity (NYSE:TEL) Earns Buy Rating from Analysts at StockNews.com

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

Several other brokerages also recently commented on TEL. Stifel Nicolaus increased their price target on TE Connectivity from $140.00 to $145.00 and gave the company a hold rating in a report on Thursday, January 25th. Citigroup initiated coverage on shares of TE Connectivity in a report on Friday, January 5th. They issued a neutral rating and a $146.00 target price on the stock. The Goldman Sachs Group restated a buy rating on shares of TE Connectivity in a report on Monday, April 1st. Robert W. Baird dropped their price objective on TE Connectivity from $159.00 to $158.00 and set an outperform rating on the stock in a research note on Thursday, April 25th. Finally, Truist Financial increased their target price on TE Connectivity from $148.00 to $153.00 and gave the company a hold rating in a research note 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 company. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $153.50.

TE Connectivity Stock Performance

Shares of TEL opened at $142.00 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 1.45 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 company’s fifty day moving average is $142.48 and its 200-day moving average is $136.65. The firm has a market cap of $43.48 billion, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 2.06 and a beta of 1.36.

TE Connectivity (NYSE:TEL) last posted 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 firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.96 billion. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The business’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.65 earnings per share. Equities analysts expect that TE Connectivity will post 7.51 EPS for the current fiscal year.

TE Connectivity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s dividend payout ratio (DPR) is presently 23.79%.

Insider Activity

In other TE Connectivity news, Director Mark Trudeau sold 7,044 shares of TE Connectivity stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $141.49, for a total transaction of $996,655.56. Following the sale, the director now directly owns 5,917 shares of the company’s stock, valued at $837,196.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.86% of the company’s stock.

Institutional Trading of TE Connectivity

Several hedge funds have recently modified their holdings of the company. Norges Bank bought a new position in shares of TE Connectivity in the fourth quarter worth about $693,985,000. Massachusetts Financial Services Co. MA raised its position in TE Connectivity by 2.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,632,809 shares of the electronics maker’s stock worth $650,910,000 after purchasing an additional 111,340 shares during the last quarter. Invesco Ltd. lifted its holdings in TE Connectivity by 3.5% during the 3rd quarter. Invesco Ltd. now owns 4,572,117 shares of the electronics maker’s stock worth $564,794,000 after buying an additional 154,496 shares in the last quarter. Impax Asset Management Group plc boosted its position in TE Connectivity by 1.4% in the 4th quarter. Impax Asset Management Group plc now owns 3,774,896 shares of the electronics maker’s stock valued at $529,798,000 after buying an additional 51,866 shares during the last quarter. Finally, Morgan Stanley raised its position in shares of TE Connectivity by 11.7% during the third quarter. Morgan Stanley now owns 3,738,943 shares of the electronics maker’s stock worth $461,872,000 after acquiring an additional 390,723 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

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.