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

Wall Street Zen cut shares of TE Connectivity (NYSE:TEL) from a strong-buy rating to a buy rating in a research note released on Saturday morning.

TEL has been the subject of several other research reports. Barclays cut their price objective on TE Connectivity from $302.00 to $297.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. The Goldman Sachs Group set a $286.00 price objective on TE Connectivity in a research report on Wednesday, April 22nd. Jefferies Financial Group upgraded TE Connectivity from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 15th. Weiss Ratings upgraded TE Connectivity from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday, February 6th. Finally, Truist Financial cut their price objective on TE Connectivity from $244.00 to $240.00 and set a “hold” rating for the company in a research report on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $256.57.

TE Connectivity Price Performance

TE Connectivity stock opened at $207.43 on Friday. TE Connectivity has a 12 month low of $147.75 and a 12 month high of $252.56. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.89 and a quick ratio of 1.20. The business has a 50 day simple moving average of $215.86 and a 200-day simple moving average of $226.07. The stock has a market capitalization of $60.55 billion, a PE ratio of 21.19, a price-to-earnings-growth ratio of 1.47 and a beta of 1.18.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, April 22nd. The electronics maker reported $2.73 EPS for the quarter, topping the consensus estimate of $2.70 by $0.03. TE Connectivity had a return on equity of 23.56% and a net margin of 15.54%.The business had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.72 billion. During the same quarter in the prior year, the business earned $2.10 earnings per share. The company’s quarterly revenue was up 14.4% compared to the same quarter last year. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. Equities analysts predict that TE Connectivity will post 11.28 earnings per share for the current year.

TE Connectivity Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 22nd will be issued a dividend of $0.78 per share. The ex-dividend date is Friday, May 22nd. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.71. This represents a $3.12 dividend on an annualized basis and a yield of 1.5%. TE Connectivity’s payout ratio is 29.01%.

TE Connectivity announced that its Board of Directors has authorized a share buyback program on Wednesday, March 11th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the electronics maker to purchase up to 5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other news, SVP Reuben M. Shaffer sold 1,425 shares of the company’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $234.23, for a total transaction of $333,777.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Shadrak W. Kroeger sold 9,400 shares of the company’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $223.26, for a total value of $2,098,644.00. Following the sale, the insider directly owned 25,976 shares of the company’s stock, valued at approximately $5,799,401.76. This represents a 26.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 42,345 shares of company stock worth $9,627,260. Corporate insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On TE Connectivity

Several hedge funds have recently bought and sold shares of TEL. Kohmann Bosshard Financial Services LLC purchased a new stake in TE Connectivity in the 4th quarter worth about $25,000. Caitlin John LLC purchased a new stake in TE Connectivity in the 3rd quarter worth about $28,000. Aster Capital Management DIFC Ltd purchased a new stake in TE Connectivity in the 3rd quarter worth about $29,000. Geneos Wealth Management Inc. lifted its stake in TE Connectivity by 189.6% in the 2nd quarter. Geneos Wealth Management Inc. now owns 194 shares of the electronics maker’s stock worth $33,000 after acquiring an additional 127 shares in the last quarter. Finally, SOA Wealth Advisors LLC. lifted its stake in TE Connectivity by 47.4% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 168 shares of the electronics maker’s stock worth $37,000 after acquiring an additional 54 shares in the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

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.