Evercore Downgrades TE Connectivity (NYSE:TEL) to Hold

TE Connectivity (NYSE:TEL) was downgraded by analysts at Evercore from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Sunday,Zacks.com reports.

TEL has been the subject of several other research reports. Weiss Ratings upgraded shares of TE Connectivity from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. Zacks Research lowered shares of TE Connectivity from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. UBS Group dropped their target price on shares of TE Connectivity from $272.00 to $261.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Truist Financial decreased their price target on shares of TE Connectivity from $244.00 to $240.00 and set a “hold” rating for the company in a research note on Thursday, April 23rd. Finally, The Goldman Sachs Group set a $286.00 price target on shares of TE Connectivity in a report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $254.64.

TE Connectivity Stock Performance

Shares of TE Connectivity stock opened at $212.74 on Friday. The business’s fifty day simple moving average is $214.56 and its 200 day simple moving average is $220.21. The company has a current ratio of 1.89, a quick ratio of 1.20 and a debt-to-equity ratio of 0.42. TE Connectivity has a 12 month low of $162.17 and a 12 month high of $252.56. The firm has a market capitalization of $62.10 billion, a P/E ratio of 21.73, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16.

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

TE Connectivity declared that its board has authorized a share repurchase 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 generally a sign that the company’s management believes its shares are undervalued.

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 in the company, valued at $5,584,840. This represents a 26.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 28,200 shares of company stock worth $6,140,644. Insiders own 0.60% of the company’s stock.

Institutional Trading of TE Connectivity

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Man Group plc increased its position in shares of TE Connectivity by 259.9% during the fourth quarter. Man Group plc now owns 1,252,434 shares of the electronics maker’s stock valued at $284,941,000 after buying an additional 904,468 shares during the period. Darwin Wealth Management LLC bought a new position in shares of TE Connectivity in the fourth quarter valued at approximately $1,983,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of TE Connectivity by 2,766.7% in 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 acquiring an additional 267,598 shares during the period. Power Wealth Management LLC grew its stake in TE Connectivity by 226.5% during the third quarter. Power Wealth Management LLC now owns 8,979 shares of the electronics maker’s stock valued at $1,971,000 after acquiring an additional 6,229 shares in the last quarter. Finally, NewEdge Wealth LLC increased its holdings in TE Connectivity by 20.4% during the 4th quarter. NewEdge Wealth LLC now owns 41,715 shares of the electronics maker’s stock worth $9,491,000 after acquiring an additional 7,057 shares during the period. 91.43% of the stock is currently owned by 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.