TE Connectivity (NYSE:TEL) Downgraded by Wall Street Zen to Hold

TE Connectivity (NYSE:TEL - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

TEL has been the subject of a number of other research reports. Wells Fargo & Company upped their target price on TE Connectivity from $148.00 to $156.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Vertical Research upgraded TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 target price on the stock in a research report on Friday, April 25th. Robert W. Baird raised their target price on TE Connectivity from $147.00 to $153.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Truist Financial dropped their target price on TE Connectivity from $163.00 to $156.00 and set a "hold" rating on the stock in a research report on Thursday, April 24th. Finally, Hsbc Global Res raised shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $160.30.

TE Connectivity Stock Performance

NYSE TEL traded down $0.12 on Friday, hitting $161.25. 403,375 shares of the company traded hands, compared to its average volume of 1,697,062. The business's 50 day moving average price is $144.06 and its 200-day moving average price is $147.01. TE Connectivity has a 52-week low of $116.30 and a 52-week high of $164.11. The company has a market capitalization of $47.82 billion, a price-to-earnings ratio of 25.76, a P/E/G ratio of 2.11 and a beta of 1.24. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, beating the consensus estimate of $1.96 by $0.14. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same period in the previous year, the business earned $1.86 earnings per share. The business's revenue was up 4.4% on a year-over-year basis. Equities analysts expect that TE Connectivity will post 8.05 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total value of $3,669,250.00. Following the completion of the sale, the insider now directly owns 25,976 shares of the company's stock, valued at $3,812,497.52. The trade was a 49.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John S. Jenkins sold 20,400 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $162.85, for a total transaction of $3,322,140.00. Following the completion of the sale, the executive vice president now directly owns 24,625 shares of the company's stock, valued at approximately $4,010,181.25. This trade represents a 45.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 174,675 shares of company stock worth $27,062,559. Corporate insiders own 0.90% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP acquired a new position in TE Connectivity during the fourth quarter worth about $909,598,000. Vanguard Group Inc. grew its holdings in TE Connectivity by 17.0% during the 1st quarter. Vanguard Group Inc. now owns 37,881,410 shares of the electronics maker's stock worth $5,353,401,000 after acquiring an additional 5,502,415 shares in the last quarter. Norges Bank acquired a new position in TE Connectivity during the 4th quarter worth $508,199,000. Clearbridge Investments LLC lifted its position in shares of TE Connectivity by 72.1% in the 4th quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker's stock worth $581,148,000 after buying an additional 1,702,825 shares during the last quarter. Finally, Nuveen LLC bought a new position in shares of TE Connectivity in the 1st quarter worth about $174,700,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

TE Connectivity Company Profile

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.