TE Connectivity (NYSE:TEL) Now Covered by Analysts at StockNews.com

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

Other research analysts have also recently issued reports about the company. Stifel Nicolaus upped their price objective on TE Connectivity from $140.00 to $145.00 and gave the company a hold rating in a report on Thursday, January 25th. The Goldman Sachs Group reiterated a buy rating on shares of TE Connectivity in a report on Monday, April 1st. JPMorgan Chase & Co. upped their price objective on TE Connectivity from $169.00 to $170.00 and gave the company a neutral rating in a report on Thursday, April 11th. Truist Financial upped their price target on TE Connectivity from $148.00 to $153.00 and gave the stock a hold rating in a research note on Thursday, January 25th. Finally, Jefferies Financial Group initiated coverage on TE Connectivity in a research note on Tuesday, April 9th. They set a buy rating and a $180.00 price target on the stock. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, TE Connectivity presently has an average rating of Moderate Buy and an average price target of $153.50.

TE Connectivity Stock Performance

NYSE TEL opened at $140.44 on Monday. The stock has a market capitalization of $43.65 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 2.04 and a beta of 1.39. TE Connectivity has a twelve month low of $115.00 and a twelve month high of $147.98. The company has a current ratio of 1.86, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27. The stock has a 50-day moving average of $142.59 and a 200 day moving average of $136.06.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $1.86 EPS for the quarter, topping the consensus estimate of $1.83 by $0.03. TE Connectivity had a return on equity of 18.93% and a net margin of 20.69%. The company had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same period in the previous year, the business earned $1.65 EPS. TE Connectivity’s quarterly revenue was down 4.6% on a year-over-year basis. Sell-side analysts anticipate that TE Connectivity will post 7.59 EPS for the current fiscal year.

TE Connectivity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.85%. The ex-dividend date is Friday, February 21st. TE Connectivity’s dividend payout ratio (DPR) is presently 22.39%.

Insider Activity at TE Connectivity

In related news, insider Steven T. Merkt sold 99,777 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $144.00, for a total value of $14,367,888.00. Following the transaction, the insider now owns 30,459 shares of the company’s stock, valued at $4,386,096. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.86% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On TE Connectivity

Hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new position in shares of TE Connectivity during the fourth quarter worth about $10,759,000. Nordea Investment Management AB grew its holdings in shares of TE Connectivity by 5.3% during the fourth quarter. Nordea Investment Management AB now owns 812,537 shares of the electronics maker’s stock worth $114,430,000 after purchasing an additional 41,198 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of TE Connectivity by 518.3% during the fourth quarter. SG Americas Securities LLC now owns 155,698 shares of the electronics maker’s stock worth $21,876,000 after purchasing an additional 130,515 shares during the last quarter. Patten Group Inc. purchased a new position in shares of TE Connectivity during the fourth quarter worth about $220,000. Finally, Ninety One North America Inc. grew its holdings in shares of TE Connectivity by 39.4% during the fourth quarter. Ninety One North America Inc. now owns 61,289 shares of the electronics maker’s stock worth $8,611,000 after purchasing an additional 17,322 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

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.