TE Connectivity (NYSE:TEL) Downgraded by Evercore to Hold

Evercore downgraded shares of TE Connectivity (NYSE:TEL) from a strong-buy rating to a hold rating in a research note issued to investors on Sunday,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. HSBC cut shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $234.00 target price on the stock. in a report on Thursday, April 23rd. Weiss Ratings raised shares of TE Connectivity from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. Truist Financial reduced their price objective on shares of TE Connectivity from $244.00 to $240.00 and set a “hold” rating on the stock in a report on Thursday, April 23rd. Wells Fargo & Company lifted their price objective on shares of TE Connectivity from $214.00 to $226.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 23rd. Finally, UBS Group dropped their target price on TE Connectivity from $272.00 to $261.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, TE Connectivity has a consensus rating of “Moderate Buy” and an average price target of $254.64.

TE Connectivity Price Performance

Shares of NYSE TEL opened at $212.74 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.89 and a quick ratio of 1.20. The company has a market cap of $62.10 billion, a price-to-earnings ratio of 21.73, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The stock’s 50-day moving average is $214.56 and its two-hundred day moving average is $220.21. TE Connectivity has a 1-year low of $162.17 and a 1-year high of $252.56.

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

TE Connectivity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, August 21st. TE Connectivity’s dividend payout ratio (DPR) is currently 31.87%.

TE Connectivity declared that its board has approved a stock repurchase program on Wednesday, March 11th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the electronics maker to buy up to 5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider Shadrak W. Kroeger sold 9,400 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $215.00, for a total value of $2,021,000.00. Following the completion of the sale, the insider directly owned 25,976 shares of the company’s stock, valued at approximately $5,584,840. This represents a 26.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 28,200 shares of company stock valued at $6,140,644 in the last three months. 0.60% of the stock is currently owned by insiders.

Institutional Trading of TE Connectivity

Several institutional investors and hedge funds have recently bought and sold shares of the business. Man Group plc raised its holdings in shares of TE Connectivity by 259.9% in the fourth quarter. Man Group plc now owns 1,252,434 shares of the electronics maker’s stock valued at $284,941,000 after buying an additional 904,468 shares during the last quarter. Darwin Wealth Management LLC purchased a new position in shares of TE Connectivity during the fourth quarter worth about $1,983,000. Northwestern Mutual Wealth Management Co. increased its position in TE Connectivity by 2,766.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 277,270 shares of the electronics maker’s stock valued at $63,082,000 after acquiring an additional 267,598 shares during the period. Power Wealth Management LLC raised its stake in TE Connectivity by 226.5% during the 3rd quarter. Power Wealth Management LLC now owns 8,979 shares of the electronics maker’s stock valued at $1,971,000 after acquiring an additional 6,229 shares during the last quarter. Finally, NewEdge Wealth LLC raised its stake in TE Connectivity by 20.4% during the 4th quarter. NewEdge Wealth LLC now owns 41,715 shares of the electronics maker’s stock valued at $9,491,000 after acquiring an additional 7,057 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Company Profile

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.