TE Connectivity (NYSE:TEL) Downgraded to “Hold” Rating by Zacks Research

TE Connectivity (NYSE:TEL) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other research analysts have also recently issued reports on the stock. Jefferies Financial Group upgraded shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 15th. Truist Financial reduced their price target on shares of TE Connectivity from $244.00 to $240.00 and set a “hold” rating on the stock in a research report on Thursday, April 23rd. Wall Street Zen lowered shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Oppenheimer raised their price objective on TE Connectivity from $270.00 to $285.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. Finally, Barclays reduced their target price on TE Connectivity from $302.00 to $297.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $256.57.

TE Connectivity Trading Up 2.4%

NYSE TEL opened at $210.62 on Monday. TE Connectivity has a 12 month low of $162.17 and a 12 month high of $252.56. The stock has a 50-day simple moving average of $214.47 and a 200 day simple moving average of $220.86. The company has a current ratio of 1.89, a quick ratio of 1.20 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $61.48 billion, a PE ratio of 21.51, a P/E/G ratio of 1.46 and a beta of 1.16.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, April 22nd. The electronics maker reported $2.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.03. The company had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.72 billion. TE Connectivity had a return on equity of 23.56% and a net margin of 15.54%.The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.10 EPS. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. Research analysts forecast that TE Connectivity will post 11.28 EPS for the current year.

TE Connectivity declared that its Board of Directors has authorized a share buyback plan on Wednesday, March 11th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to buy up to 5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Insider Activity

In related news, insider Shadrak W. Kroeger sold 9,400 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $215.00, for a total transaction of $2,021,000.00. Following the sale, the insider directly owned 25,976 shares in the company, valued at $5,584,840. This trade represents a 26.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 28,200 shares of company stock worth $6,140,644 over the last ninety days. 0.60% of the stock is owned by corporate insiders.

Institutional Trading of TE Connectivity

Several hedge funds and other institutional investors have recently modified their holdings of TEL. Vanguard Group Inc. lifted its holdings in shares of TE Connectivity by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 38,421,283 shares of the electronics maker’s stock valued at $8,741,226,000 after purchasing an additional 168,142 shares in the last quarter. State Street Corp boosted its position in TE Connectivity by 0.6% during the 4th quarter. State Street Corp now owns 13,105,219 shares of the electronics maker’s stock worth $2,981,572,000 after acquiring an additional 76,292 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of TE Connectivity by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 6,284,933 shares of the electronics maker’s stock worth $1,425,669,000 after acquiring an additional 161,967 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of TE Connectivity by 27.5% in the second quarter. Bank of America Corp DE now owns 6,274,917 shares of the electronics maker’s stock valued at $1,058,390,000 after purchasing an additional 1,352,152 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of TE Connectivity by 3.4% in the fourth quarter. Bank of New York Mellon Corp now owns 4,403,794 shares of the electronics maker’s stock worth $1,001,907,000 after purchasing an additional 144,353 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

About TE Connectivity

TE Connectivity (NYSE: TEL) is a global industrial technology company that designs and manufactures connectivity and sensor solutions used to enable the flow of power and data in a wide range of applications. Its product portfolio includes electrical connectors, cable and wire harness assemblies, sensors, relays and switches, fiber-optic and coaxial interconnects, and other passive and active components that provide mechanical and electrical connections in complex systems.

The company’s products and engineered solutions serve diverse end markets such as automotive and transportation, industrial equipment, data communications and networks, aerospace and defense, medical devices, and energy.