TE Connectivity (NYSE:TEL) Stock Rating Lowered by Zacks Research

TE Connectivity (NYSE:TEL) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Other research analysts also recently issued reports about the stock. Wells Fargo & Company boosted their price objective on shares of TE Connectivity from $214.00 to $226.00 and gave the company an “equal weight” rating in a research report on Thursday, April 23rd. Truist Financial lowered their price objective on shares of TE Connectivity from $244.00 to $240.00 and set a “hold” rating on the stock in a research report on Thursday, April 23rd. The Goldman Sachs Group set a $286.00 price objective on shares of TE Connectivity in a research report on Wednesday, April 22nd. Jefferies Financial Group raised shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 15th. Finally, Barclays lowered their price objective on shares of TE Connectivity from $302.00 to $297.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $256.57.

TE Connectivity Stock Performance

TE Connectivity stock opened at $210.62 on Monday. The firm’s 50 day simple moving average is $214.47 and its 200-day simple moving average is $220.86. The company has a market cap of $61.48 billion, a P/E ratio of 21.51, a price-to-earnings-growth ratio of 1.46 and a beta of 1.16. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.89 and a quick ratio of 1.20. TE Connectivity has a fifty-two week low of $162.17 and a fifty-two week high of $252.56.

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

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

Insider Transactions at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 9,400 shares of TE Connectivity stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $215.00, for a total value of $2,021,000.00. Following the completion of the sale, the insider directly owned 25,976 shares in the company, valued at $5,584,840. The trade was a 26.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 28,200 shares of company stock valued at $6,140,644 in the last ninety days. 0.60% of the stock is owned by insiders.

Institutional Trading of TE Connectivity

A number of institutional investors have recently added to or reduced their stakes in TEL. Norges Bank acquired a new stake in TE Connectivity in the fourth quarter valued at approximately $938,706,000. J. Stern & Co. LLP acquired a new stake in TE Connectivity in the fourth quarter valued at approximately $445,402,000. Arrowstreet Capital Limited Partnership lifted its stake in TE Connectivity by 124.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,105,167 shares of the electronics maker’s stock valued at $706,457,000 after acquiring an additional 1,721,235 shares during the last quarter. Bank of America Corp DE lifted its stake in TE Connectivity by 27.5% in the second quarter. Bank of America Corp DE now owns 6,274,917 shares of the electronics maker’s stock valued at $1,058,390,000 after acquiring an additional 1,352,152 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in TE Connectivity by 183.6% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,530,414 shares of the electronics maker’s stock valued at $348,184,000 after acquiring an additional 990,703 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

TE Connectivity Company Profile

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.