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

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

Other equities analysts have also recently issued reports about the company. Citigroup reduced their target price on TE Connectivity from $165.00 to $142.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. UBS Group reiterated a "buy" rating and set a $163.00 price objective (up from $155.00) on shares of TE Connectivity in a research report on Thursday, April 24th. HSBC raised shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price target for the company in a research note on Thursday, April 24th. 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. Finally, JPMorgan Chase & Co. lifted their price objective on shares of TE Connectivity from $146.00 to $148.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $160.30.

TE Connectivity Stock Performance

Shares of NYSE TEL traded up $3.80 during mid-day trading on Friday, hitting $161.36. 1,369,553 shares of the company were exchanged, compared to its average volume of 1,702,144. The stock has a 50 day simple moving average of $143.76 and a 200-day simple moving average of $146.91. TE Connectivity has a 1-year low of $116.30 and a 1-year high of $164.11. The firm has a market cap of $47.85 billion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 2.11 and a beta of 1.24. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.96 by $0.14. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same quarter in the prior year, the company earned $1.86 EPS. TE Connectivity's revenue was up 4.4% on a year-over-year basis. On average, sell-side analysts forecast that TE Connectivity will post 8.05 EPS for the current fiscal year.

Insider Activity at TE Connectivity

In related news, EVP John S. Jenkins sold 30,000 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $149.39, for a total value of $4,481,700.00. Following the sale, the executive vice president now directly owns 24,625 shares of the company's stock, valued at $3,678,728.75. This trade represents a 54.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the sale, the insider now directly owns 25,976 shares of the company's stock, valued at approximately $3,812,497.52. This trade represents a 49.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 174,675 shares of company stock worth $27,062,559 over the last ninety days. Insiders own 0.90% of the company's stock.

Institutional Investors Weigh In On TE Connectivity

Institutional investors have recently added to or reduced their stakes in the company. Merit Financial Group LLC purchased a new position in TE Connectivity during the fourth quarter valued at $237,000. SG Americas Securities LLC purchased a new stake in shares of TE Connectivity in the 4th quarter worth $779,000. Mutual Advisors LLC raised its stake in shares of TE Connectivity by 23.6% in the fourth quarter. Mutual Advisors LLC now owns 3,692 shares of the electronics maker's stock worth $531,000 after buying an additional 704 shares during the period. Brighton Jones LLC bought a new position in shares of TE Connectivity in the fourth quarter worth approximately $820,000. Finally, RFG Advisory LLC purchased a new position in shares of TE Connectivity in the fourth quarter valued at about $211,000. Hedge funds and other institutional investors own 91.43% of the company's stock.

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.