TE Connectivity (NYSE:TEL) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of TE Connectivity (NYSE:TEL) from a buy rating to a hold rating in a research note published on Saturday.

Other equities analysts have also issued reports about the stock. Evercore reaffirmed an “in-line” rating and set a $230.00 target price on shares of TE Connectivity in a research report on Monday, June 22nd. Wells Fargo & Company dropped their price objective on TE Connectivity from $230.00 to $209.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 23rd. Truist Financial reduced their price objective on TE Connectivity from $244.00 to $240.00 and set a “hold” rating on the stock in a report on Thursday, April 23rd. Citigroup decreased their target price on TE Connectivity from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Monday, July 13th. Finally, Robert W. Baird dropped their price target on TE Connectivity from $240.00 to $225.00 and set an “outperform” rating on the stock in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $251.15.

TE Connectivity Stock Performance

TEL stock opened at $217.84 on Friday. The firm has a market cap of $63.07 billion, a price-to-earnings ratio of 21.36, a PEG ratio of 1.45 and a beta of 1.16. TE Connectivity has a twelve month low of $190.27 and a twelve month high of $252.56. 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 business’s fifty day simple moving average is $206.92 and its two-hundred day simple moving average is $212.64.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, July 22nd. The electronics maker reported $2.94 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.09. TE Connectivity had a net margin of 15.61% and a return on equity of 24.59%. The firm had revenue of $5.16 billion for the quarter, compared to analysts’ expectations of $5.01 billion. During the same period in the prior year, the business posted $2.27 earnings per share. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. TE Connectivity has set its Q4 2026 guidance at 3.050-3.050 EPS. Analysts predict that TE Connectivity will post 11.48 earnings per share for the current year.

TE Connectivity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be paid a $0.78 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $3.12 dividend on an annualized basis and a yield of 1.4%. TE Connectivity’s payout ratio is 30.59%.

Insider Transactions at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 9,400 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $215.00, for a total transaction of $2,021,000.00. Following the sale, the insider owned 25,976 shares of the company’s stock, valued at approximately $5,584,840. This trade represents a 26.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Hsbc Holdings PLC grew its position in TE Connectivity by 11.1% during the 4th quarter. Hsbc Holdings PLC now owns 230,034 shares of the electronics maker’s stock worth $52,506,000 after purchasing an additional 23,074 shares during the last quarter. Man Group plc raised its holdings in shares of TE Connectivity by 259.9% in the fourth quarter. Man Group plc now owns 1,252,434 shares of the electronics maker’s stock worth $284,941,000 after buying an additional 904,468 shares during the last quarter. Jefferies Financial Group Inc. raised its holdings in shares of TE Connectivity by 575.9% in the fourth quarter. Jefferies Financial Group Inc. now owns 36,496 shares of the electronics maker’s stock worth $8,303,000 after buying an additional 31,096 shares during the last quarter. Swedbank AB lifted its stake in shares of TE Connectivity by 8.1% during the fourth quarter. Swedbank AB now owns 84,831 shares of the electronics maker’s stock worth $19,300,000 after buying an additional 6,385 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of TE Connectivity by 2,766.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 277,270 shares of the electronics maker’s stock valued at $63,082,000 after buying an additional 267,598 shares during the last quarter. Hedge funds and other institutional investors 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.