TE Connectivity (NYSE:TEL) Upgraded at KGI Securities

TE Connectivity (NYSE:TEL) was upgraded by analysts at KGI Securities to a “hold” rating in a report issued on Thursday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Hsbc Global Res raised TE Connectivity from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 24th. Truist Financial lifted their price objective on TE Connectivity from $156.00 to $200.00 and gave the stock a “hold” rating in a research note on Thursday. HSBC raised TE Connectivity from a “hold” rating to a “buy” rating and set a $175.00 price objective for the company in a research note on Thursday, April 24th. UBS Group boosted their target price on TE Connectivity from $185.00 to $201.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Finally, Citigroup boosted their target price on TE Connectivity from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, TE Connectivity has an average rating of “Moderate Buy” and an average price target of $194.80.

TE Connectivity Stock Up 1.0%

Shares of TE Connectivity stock opened at $207.66 on Thursday. The company has a quick ratio of 1.08, a current ratio of 1.52 and a debt-to-equity ratio of 0.39. TE Connectivity has a 12 month low of $116.30 and a 12 month high of $208.17. The business has a fifty day simple moving average of $169.73 and a 200 day simple moving average of $153.77. The stock has a market cap of $61.58 billion, a PE ratio of 42.99, a price-to-earnings-growth ratio of 2.49 and a beta of 1.23.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, July 23rd. The electronics maker reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.19. TE Connectivity had a return on equity of 20.22% and a net margin of 8.78%. The business had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same period in the previous year, the firm earned $1.91 earnings per share. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. Research analysts predict that TE Connectivity will post 8.05 EPS for the current year.

Insider Buying and Selling

In other news, CFO Heath A. Mitts sold 53,306 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $159.21, for a total value of $8,486,848.26. Following the sale, the chief financial officer directly owned 45,503 shares in the company, valued at $7,244,532.63. The trade was a 53.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John S. Jenkins sold 20,400 shares of the business’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $162.85, for a total value of $3,322,140.00. Following the completion of the sale, the executive vice president owned 24,625 shares in the company, valued at approximately $4,010,181.25. This trade represents a 45.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 240,675 shares of company stock valued at $39,794,121. Corporate insiders own 0.90% of the company’s stock.

Institutional Trading of TE Connectivity

A number of institutional investors have recently modified their holdings of TEL. Richardson Financial Services Inc. bought a new stake in TE Connectivity during the second quarter worth about $33,000. Costello Asset Management INC bought a new stake in TE Connectivity during the first quarter worth about $28,000. Millstone Evans Group LLC bought a new stake in TE Connectivity during the first quarter worth about $32,000. Ransom Advisory Ltd bought a new stake in TE Connectivity during the first quarter worth about $34,000. Finally, Kelly Lawrence W & Associates Inc. CA bought a new stake in TE Connectivity during the first quarter worth about $34,000. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Company Profile

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.