TE Connectivity Ltd (TEL) Given Average Rating of “Hold” by Brokerages

TE Connectivity Ltd (NYSE:TEL) has received an average rating of “Hold” from the ten analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $94.43.

TEL has been the topic of several analyst reports. ValuEngine upgraded shares of TE Connectivity from a “sell” rating to a “hold” rating in a report on Tuesday, March 26th. Royal Bank of Canada reiterated a “buy” rating and issued a $92.00 target price on shares of TE Connectivity in a report on Sunday, January 6th. Robert W. Baird reiterated a “hold” rating and issued a $79.00 target price on shares of TE Connectivity in a report on Sunday, January 6th. Zacks Investment Research upgraded shares of TE Connectivity from a “sell” rating to a “hold” rating in a report on Tuesday, March 26th. Finally, HC Wainwright reiterated a “sell” rating on shares of TE Connectivity in a report on Friday.

In related news, insider Kevin N. Rock sold 26,803 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $95.04, for a total transaction of $2,547,357.12. Following the sale, the insider now directly owns 67,361 shares in the company, valued at $6,401,989.44. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Heath A. Mitts sold 12,908 shares of the firm’s stock in a transaction on Wednesday, February 6th. The stock was sold at an average price of $83.05, for a total transaction of $1,072,009.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 277,825 shares of company stock worth $25,723,028. Company insiders own 0.80% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc raised its holdings in shares of TE Connectivity by 1.4% during the third quarter. Vanguard Group Inc now owns 24,999,009 shares of the electronics maker’s stock worth $2,198,164,000 after acquiring an additional 340,661 shares during the period. FMR LLC raised its holdings in shares of TE Connectivity by 23.5% during the fourth quarter. FMR LLC now owns 6,558,221 shares of the electronics maker’s stock worth $495,997,000 after acquiring an additional 1,248,798 shares during the period. Geode Capital Management LLC raised its holdings in shares of TE Connectivity by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 3,810,379 shares of the electronics maker’s stock worth $287,667,000 after acquiring an additional 188,148 shares during the period. Norges Bank acquired a new stake in shares of TE Connectivity during the fourth quarter worth $280,716,000. Finally, Oregon Public Employees Retirement Fund raised its holdings in shares of TE Connectivity by 7,370.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,870,688 shares of the electronics maker’s stock worth $38,000 after acquiring an additional 2,832,263 shares during the period. Institutional investors and hedge funds own 91.41% of the company’s stock.

TEL stock traded up $1.14 during midday trading on Friday, reaching $95.65. The company’s stock had a trading volume of 1,126,767 shares, compared to its average volume of 1,238,062. TE Connectivity has a 52 week low of $69.84 and a 52 week high of $99.52. The stock has a market cap of $32.22 billion, a PE ratio of 17.05, a PEG ratio of 1.59 and a beta of 1.10. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.90 and a current ratio of 1.41.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, April 24th. The electronics maker reported $1.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.15. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.36 billion. TE Connectivity had a net margin of 20.17% and a return on equity of 18.78%. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period last year, the business posted $1.42 earnings per share. As a group, sell-side analysts predict that TE Connectivity will post 5.61 earnings per share for the current fiscal year.

About TE Connectivity

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors solutions in Europe, the Middle East, Africa, the Asia–Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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Analyst Recommendations for TE Connectivity (NYSE:TEL)

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