TE Connectivity (NYSE:TEL) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of TE Connectivity (NYSE:TEL) in a report published on Monday morning. The firm issued a buy rating on the electronics maker’s stock.

Several other analysts also recently commented on TEL. Jefferies Financial Group initiated coverage on shares of TE Connectivity in a research report on Tuesday, April 9th. They set a buy rating and a $180.00 price objective on the stock. Robert W. Baird raised their price objective 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. Truist Financial raised their price objective on shares of TE Connectivity from $148.00 to $153.00 and gave the company a hold rating in a research report on Thursday, January 25th. Stifel Nicolaus lifted their price target on shares of TE Connectivity from $140.00 to $145.00 and gave the company a hold rating in a report on Thursday, January 25th. Finally, Citigroup assumed coverage on shares of TE Connectivity in a report on Friday, January 5th. They issued a neutral rating and a $146.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $153.30.

TE Connectivity Trading Down 2.3 %

Shares of TE Connectivity stock opened at $140.00 on Monday. The stock has a market capitalization of $43.51 billion, a PE ratio of 13.28, a P/E/G ratio of 2.04 and a beta of 1.39. TE Connectivity has a 1-year low of $115.00 and a 1-year high of $147.98. The company’s fifty day simple moving average is $142.65 and its 200-day simple moving average is $136.02. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.86 and a quick ratio of 1.16.

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

TE Connectivity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be issued a $0.65 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.86%. TE Connectivity’s dividend payout ratio (DPR) is presently 24.67%.

Insider Transactions at TE Connectivity

In other news, insider Steven T. Merkt sold 99,777 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $144.00, for a total value of $14,367,888.00. Following the sale, the insider now directly owns 30,459 shares in the company, valued at approximately $4,386,096. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On TE Connectivity

A number of large investors have recently made changes to their positions in TEL. Norges Bank purchased a new position in shares of TE Connectivity during the 4th quarter worth about $693,985,000. Qube Research & Technologies Ltd purchased a new position in shares of TE Connectivity during the 3rd quarter worth about $165,640,000. First Trust Advisors LP boosted its stake in shares of TE Connectivity by 150.9% during the 4th quarter. First Trust Advisors LP now owns 2,143,423 shares of the electronics maker’s stock worth $301,151,000 after purchasing an additional 1,289,230 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of TE Connectivity by 1,000.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,335,477 shares of the electronics maker’s stock worth $193,965,000 after purchasing an additional 1,214,122 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of TE Connectivity by 12.5% during the 4th quarter. Wellington Management Group LLP now owns 3,630,003 shares of the electronics maker’s stock worth $510,015,000 after purchasing an additional 403,750 shares during the period. 91.43% of the stock is 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.