KGI Securities Upgrades TE Connectivity (NYSE:TEL) to "Hold"

Key Points

• TE Connectivity has been upgraded to a "hold" rating by analysts at KGI Securities, while HSBC Global Research raised its rating to a "strong buy" with a target price of $175.00.
• The company's stock has experienced significant analyst interest, with a consensus rating of "Moderate Buy" and an average price target of $194.80.
• Recently reported earnings showed TE Connectivity topping analyst expectations with an EPS of $2.27 and a revenue of $4.53 billion, which is a 13.9% increase year-over-year.

TE Connectivity (NYSE:TEL - Get Free Report) was upgraded by investment analysts at KGI Securities to a "hold" rating in a note issued to investors on Thursday,Zacks.com reports.

TEL has been the topic of several other research reports. UBS Group lifted their price objective on shares of TE Connectivity from $185.00 to $201.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Citigroup boosted their price target on shares of TE Connectivity from $200.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday. Truist Financial boosted their price target on shares of TE Connectivity from $156.00 to $200.00 and gave the stock a "hold" rating in a research report on Thursday. Robert W. Baird boosted their price target on shares of TE Connectivity from $185.00 to $210.00 and gave the stock an "outperform" rating in a research report on Thursday. Finally, Vertical Research upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price target on the stock in a research report on Friday, April 25th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, TE Connectivity currently has an average rating of "Moderate Buy" and an average target price of $194.80.

TE Connectivity Trading Up 0.5%

NYSE TEL traded up $1.04 during mid-day trading on Thursday, reaching $209.10. 2,291,863 shares of the stock were exchanged, compared to its average volume of 1,959,528. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.52 and a quick ratio of 0.96. The stock has a market cap of $62.01 billion, a P/E ratio of 25.16, a P/E/G ratio of 2.52 and a beta of 1.23. The stock has a 50 day simple moving average of $169.73 and a 200-day simple moving average of $153.91. TE Connectivity has a one year low of $116.30 and a one year high of $210.05.

TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The electronics maker reported $2.27 earnings per share for the quarter, beating analysts' consensus estimates of $2.08 by $0.19. The company had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.30 billion. TE Connectivity had a net margin of 8.78% and a return on equity of 20.22%. The firm's revenue was up 13.9% on a year-over-year basis. During the same period last year, the firm earned $1.91 earnings per share. On average, analysts anticipate that TE Connectivity will post 8.05 EPS for the current year.

Insider Transactions at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $159.03, for a total value of $3,975,750.00. Following the transaction, the insider directly owned 25,976 shares of the company's stock, valued at $4,130,963.28. This represents a 49.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Malavika Sagar sold 3,125 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $160.00, for a total value of $500,000.00. Following the sale, the senior vice president directly owned 5,927 shares in the company, valued at approximately $948,320. This represents a 34.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 240,675 shares of company stock worth $39,794,121 over the last 90 days. 0.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP bought a new position in TE Connectivity during the fourth quarter valued at about $909,598,000. Vanguard Group Inc. lifted its holdings in shares of TE Connectivity by 17.0% during the first quarter. Vanguard Group Inc. now owns 37,881,410 shares of the electronics maker's stock valued at $5,353,401,000 after purchasing an additional 5,502,415 shares during the last quarter. Norges Bank acquired a new position in shares of TE Connectivity in the 4th quarter valued at $508,199,000. Valeo Financial Advisors LLC boosted its position in shares of TE Connectivity by 39,846.0% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,775,598 shares of the electronics maker's stock valued at $299,490,000 after purchasing an additional 1,771,153 shares during the period. Finally, Clearbridge Investments LLC boosted 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 valued at $581,148,000 after purchasing an additional 1,702,825 shares during the period. 91.43% of the stock is currently owned by institutional investors.

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.