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

Key Points

• Wall Street Zen downgraded TE Connectivity from “Buy” to “Hold,” though the broader analyst consensus remains “Moderate Buy” with an average price target of $251.15.
• TE Connectivity reported stronger-than-expected quarterly results, with adjusted EPS of $2.94 versus the $2.85 consensus and revenue of $5.16 billion, up 13.8% year over year.
• The stock opened at $216.43, while institutional investors own a substantial 91.43% of shares; an insider also sold 9,400 shares under a pre-arranged trading plan.

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

Several other research analysts also recently weighed in on TEL. Truist Financial dropped their target price on TE Connectivity from $244.00 to $240.00 and set a "hold" rating on the stock in a research note on Thursday, April 23rd. The Goldman Sachs Group set a $286.00 price target on TE Connectivity in a research note on Wednesday, April 22nd. Barclays raised their price target on TE Connectivity from $297.00 to $300.00 and gave the stock an "overweight" rating in a report on Monday, June 15th. UBS Group restated a "buy" rating and set a $241.00 price target on shares of TE Connectivity in a research note on Thursday, July 23rd. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of TE Connectivity in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, TE Connectivity currently has a consensus rating of "Moderate Buy" and an average price target of $251.15.

TE Connectivity Trading Up 0.8%

NYSE:TEL opened at $216.43 on Friday. TE Connectivity has a 52 week low of $190.27 and a 52 week high of $252.56. The firm has a 50 day moving average of $206.67 and a 200 day moving average of $212.83. The company has a quick ratio of 1.23, a current ratio of 1.88 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $62.66 billion, a price-to-earnings ratio of 21.22, a PEG ratio of 1.44 and a beta of 1.16.

TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The electronics maker reported $2.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.09. The business had revenue of $5.16 billion for the quarter, compared to analyst estimates of $5.01 billion. TE Connectivity had a net margin of 15.61% and a return on equity of 24.59%. The business's revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.27 earnings per share. TE Connectivity has set its Q4 2026 guidance at 3.050-3.050 EPS. As a group, sell-side analysts anticipate that TE Connectivity will post 11.48 earnings per share for the current fiscal year.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 9,400 shares of the firm's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $215.00, for a total value of $2,021,000.00. Following the completion of the transaction, the insider directly owned 25,976 shares in the company, valued at $5,584,840. This trade represents a 26.57% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.60% of the company's stock.

Hedge Funds Weigh In On TE Connectivity

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Brighton Jones LLC purchased a new stake in shares of TE Connectivity in the 4th quarter valued at $820,000. Sivia Capital Partners LLC raised its holdings in shares of TE Connectivity by 66.7% during the second quarter. Sivia Capital Partners LLC now owns 2,517 shares of the electronics maker's stock worth $425,000 after purchasing an additional 1,007 shares during the last quarter. Walleye Capital LLC lifted its position in TE Connectivity by 14.6% during the second quarter. Walleye Capital LLC now owns 2,688 shares of the electronics maker's stock valued at $453,000 after purchasing an additional 343 shares during the period. Squarepoint Ops LLC lifted its position in TE Connectivity by 1,214.0% during the second quarter. Squarepoint Ops LLC now owns 105,267 shares of the electronics maker's stock valued at $17,755,000 after purchasing an additional 97,256 shares during the period. Finally, Ieq Capital LLC grew its position in TE Connectivity by 75.0% during the 2nd quarter. Ieq Capital LLC now owns 23,284 shares of the electronics maker's stock worth $3,927,000 after purchasing an additional 9,980 shares during the period. Institutional investors and hedge funds own 91.43% of the company's stock.

About TE Connectivity

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.

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