Wall Street Zen Upgrades TE Connectivity (NYSE:TEL) to Buy

TE Connectivity (NYSE:TEL) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

Other equities research analysts have also recently issued reports about the company. Citigroup lowered their price objective on TE Connectivity from $250.00 to $230.00 and set a “buy” rating on the stock in a research note on Monday, July 13th. Barclays increased their target price on shares of TE Connectivity from $297.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, June 15th. Evercore reissued an “in-line” rating and issued a $230.00 price target on shares of TE Connectivity in a research report on Monday, June 22nd. UBS Group dropped their price target on shares of TE Connectivity from $272.00 to $261.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Finally, The Goldman Sachs Group set a $286.00 price objective on shares of TE Connectivity in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $255.31.

TE Connectivity Price Performance

Shares of NYSE TEL opened at $209.02 on Monday. The stock has a fifty day simple moving average of $205.72 and a two-hundred day simple moving average of $215.53. TE Connectivity has a 1-year low of $177.21 and a 1-year high of $252.56. The firm has a market cap of $61.01 billion, a price-to-earnings ratio of 21.35, a price-to-earnings-growth ratio of 1.42 and a beta of 1.17. The company has a current ratio of 1.89, a quick ratio of 1.20 and a debt-to-equity ratio of 0.42.

TE Connectivity (NYSE:TEL) last issued its earnings results 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 firm had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.72 billion. During the same period in the previous year, the company posted $2.10 earnings per share. The business’s revenue was up 14.4% on a year-over-year basis. Analysts anticipate that TE Connectivity will post 11.31 earnings per share for the current year.

Insider Activity at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 9,400 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 25,976 shares of the company’s stock, valued at approximately $5,584,840. The trade was a 26.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of TE Connectivity in the fourth quarter worth $938,706,000. J. Stern & Co. LLP purchased a new position in TE Connectivity during the fourth quarter worth about $445,402,000. Arrowstreet Capital Limited Partnership increased its stake in TE Connectivity by 124.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,105,167 shares of the electronics maker’s stock worth $706,457,000 after acquiring an additional 1,721,235 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of TE Connectivity by 27.5% in the 2nd 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 acquiring an additional 1,352,152 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of TE Connectivity by 183.6% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,530,414 shares of the electronics maker’s stock valued at $348,184,000 after acquiring an additional 990,703 shares in the last quarter. 91.43% of the stock is owned by institutional investors.

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.