TE Connectivity (NYSE:TEL) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of TE Connectivity (NYSE:TEL) from a buy rating to a hold rating in a report published on Saturday morning,Wall Street Zen reports.

TEL has been the topic of several other research reports. Wells Fargo & Company boosted their price objective on shares of TE Connectivity from $209.00 to $220.00 and gave the stock a “cautious” rating in a research note on Friday. Evercore reaffirmed an “in-line” rating and set a $230.00 target price on shares of TE Connectivity in a report on Monday, June 22nd. UBS Group reissued a “buy” rating and issued a $241.00 price target on shares of TE Connectivity in a research note on Thursday, July 23rd. Citigroup lowered their price objective on TE Connectivity from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Monday, July 13th. Finally, Barclays lifted their price objective on TE Connectivity from $297.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $252.00.

TE Connectivity Stock Down 4.1%

Shares of NYSE TEL opened at $203.21 on Friday. The company has a 50 day simple moving average of $206.43 and a 200 day simple moving average of $209.44. The firm has a market cap of $58.83 billion, a PE ratio of 19.92, a price-to-earnings-growth ratio of 1.42 and a beta of 1.16. TE Connectivity has a 1 year low of $190.27 and a 1 year high of $252.56. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.88 and a quick ratio of 1.23.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, July 22nd. The electronics maker reported $2.94 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.09. TE Connectivity had a net margin of 15.61% and a return on equity of 24.59%. The firm had revenue of $5.16 billion for the quarter, compared to analyst estimates of $5.01 billion. During the same period in the previous year, the firm posted $2.27 EPS. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. TE Connectivity has set its Q4 2026 guidance at 3.050-3.050 EPS. On average, research analysts forecast that TE Connectivity will post 11.48 EPS for the current year.

Institutional Investors Weigh In On TE Connectivity

Several institutional investors and hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System increased its stake in TE Connectivity by 19,772.4% during the 2nd quarter. California State Teachers Retirement System now owns 92,477,499 shares of the electronics maker’s stock valued at $18,644,389,000 after purchasing an additional 92,012,142 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of TE Connectivity by 48.2% in the second quarter. Wellington Management Group LLP now owns 7,709,235 shares of the electronics maker’s stock valued at $1,554,259,000 after buying an additional 2,507,569 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of TE Connectivity by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 6,284,933 shares of the electronics maker’s stock valued at $1,425,669,000 after buying an additional 161,967 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of TE Connectivity by 3.4% during the fourth quarter. Bank of New York Mellon Corp now owns 4,403,794 shares of the electronics maker’s stock valued at $1,001,907,000 after buying an additional 144,353 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of TE Connectivity during the fourth quarter worth about $938,706,000. Institutional investors own 91.43% of the company’s stock.

About TE Connectivity

TE Connectivity Ltd. (NYSE: TEL) designs and manufactures connectivity and sensor products used in transportation, industrial equipment, communications systems, data centers, aerospace and defense, medical technology, energy infrastructure, and consumer applications. Its products help transmit power, data and signals between components and systems.

The company’s product portfolio includes connectors, terminals, relays, sensors, antennas, cable assemblies, circuit-protection devices, heat-shrink products and other components for electronic and electrical systems.