TE Connectivity (NYSE:TEL) was downgraded by equities research analysts at Cross Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports.
A number of other equities analysts have also commented on TEL. HC Wainwright reaffirmed a “buy” rating on shares of Ballard Power Systems in a research note on Friday, May 3rd. Longbow Research lowered TE Connectivity from a “buy” rating to a “neutral” rating and set a $90.66 price objective on the stock. in a research note on Monday, June 17th. Zacks Investment Research raised Triple-S Management from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Monday, April 29th. ValuEngine lowered ENN ENERGY HOLD/ADR from a “buy” rating to a “hold” rating in a research note on Tuesday, March 26th. Finally, Goldman Sachs Group set a €6.20 ($7.21) price target on Kloeckner & Co SE and gave the company a “buy” rating in a research note on Thursday, June 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $92.71.
TE Connectivity stock opened at $88.22 on Tuesday. The business has a 50 day moving average of $92.28. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.90 and a current ratio of 1.41. The firm has a market capitalization of $31.50 billion, a price-to-earnings ratio of 15.73, a P/E/G ratio of 1.62 and a beta of 1.20. TE Connectivity has a one year low of $69.84 and a one year high of $97.99.
TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $1.42 EPS for the quarter, topping the Zacks’ 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 return on equity of 18.78% and a net margin of 20.17%. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.42 earnings per share. As a group, analysts predict that TE Connectivity will post 5.6 EPS for the current year.
In other news, SVP Mario Calastri sold 33,075 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $95.00, for a total transaction of $3,142,125.00. Following the transaction, the senior vice president now directly owns 25,679 shares of the company’s stock, valued at $2,439,505. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Terrence R. Curtin sold 128,750 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $94.20, for a total value of $12,128,250.00. Following the transaction, the insider now directly owns 213,719 shares in the company, valued at $20,132,329.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 299,383 shares of company stock worth $28,368,769. Insiders own 0.80% of the company’s stock.
Large investors have recently modified their holdings of the company. Thor Advisors LLC acquired a new position in shares of TE Connectivity during the first quarter worth approximately $26,000. Synovus Financial Corp raised its position in shares of TE Connectivity by 97.2% during the first quarter. Synovus Financial Corp now owns 355 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 175 shares during the period. Weaver Consulting Group acquired a new position in shares of TE Connectivity during the first quarter worth approximately $28,000. First Interstate Bank acquired a new position in shares of TE Connectivity during the first quarter worth approximately $32,000. Finally, Legacy Advisors LLC bought a new stake in TE Connectivity during the first quarter worth $33,000. 91.06% of the stock is currently owned by institutional investors.
About TE Connectivity
TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors 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.
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