FY2024 EPS Estimates for TE Connectivity Ltd. Raised by Zacks Research (NYSE:TEL)

TE Connectivity Ltd. (NYSE:TEL - Free Report) - Zacks Research raised their FY2024 earnings per share estimates for TE Connectivity in a report released on Wednesday, August 14th. Zacks Research analyst A. Ganguly now expects that the electronics maker will post earnings of $7.55 per share for the year, up from their prior estimate of $7.48. The consensus estimate for TE Connectivity's current full-year earnings is $7.56 per share. Zacks Research also issued estimates for TE Connectivity's Q4 2024 earnings at $1.94 EPS, Q1 2025 earnings at $1.88 EPS, Q2 2025 earnings at $1.99 EPS, Q3 2025 earnings at $2.06 EPS, Q4 2025 earnings at $2.09 EPS, FY2025 earnings at $8.03 EPS and Q3 2026 earnings at $2.33 EPS.

A number of other research firms have also recently commented on TEL. StockNews.com started coverage on TE Connectivity in a research report on Monday. They set a "buy" rating on the stock. Wells Fargo & Company reduced their price objective on TE Connectivity from $152.00 to $150.00 and set an "equal weight" rating on the stock in a research note on Tuesday, June 25th. JPMorgan Chase & Co. dropped their target price on TE Connectivity from $170.00 to $169.00 and set a "neutral" rating on the stock in a research report on Thursday, April 25th. HSBC lowered shares of TE Connectivity from a "buy" rating to a "hold" rating and set a $162.00 price target for the company. in a report on Wednesday, July 24th. Finally, Robert W. Baird raised their price target on TE Connectivity from $162.00 to $170.00 and gave the company an "outperform" rating in a report on Thursday, July 25th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $158.45.

TE Connectivity Trading Up 0.3 %

Shares of NYSE TEL traded up $0.39 during midday trading on Friday, reaching $149.43. 782,032 shares of the stock were exchanged, compared to its average volume of 1,932,531. The stock has a market capitalization of $45.76 billion, a P/E ratio of 13.67, a PEG ratio of 1.96 and a beta of 1.33. TE Connectivity has a twelve month low of $115.00 and a twelve month high of $159.98. The company has a 50 day simple moving average of $150.44 and a 200 day simple moving average of $146.35. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.51.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share for the quarter, topping analysts' consensus estimates of $1.86 by $0.05. The firm had revenue of $4 billion during the quarter, compared to analysts' expectations of $4.01 billion. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. The business's quarterly revenue was up .1% on a year-over-year basis. During the same quarter last year, the firm earned $1.77 EPS.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Quarry LP purchased a new position in shares of TE Connectivity in the second quarter worth about $108,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of TE Connectivity by 14.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,168 shares of the electronics maker's stock valued at $1,228,000 after purchasing an additional 1,057 shares during the period. NewEdge Advisors LLC boosted its holdings in TE Connectivity by 113.3% in the second quarter. NewEdge Advisors LLC now owns 30,001 shares of the electronics maker's stock valued at $4,513,000 after purchasing an additional 15,934 shares during the period. Creative Planning lifted its stake in TE Connectivity by 2.4% in the second quarter. Creative Planning now owns 40,782 shares of the electronics maker's stock worth $6,135,000 after acquiring an additional 962 shares during the last quarter. Finally, Algert Global LLC acquired a new position in shares of TE Connectivity during the 2nd quarter worth about $496,000. Hedge funds and other institutional investors own 91.43% of the company's stock.

Insider Activity

In other TE Connectivity news, insider Aaron Kyle Stucki sold 8,750 shares of the company's stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $155.00, for a total transaction of $1,356,250.00. Following the completion of the transaction, the insider now owns 20,556 shares of the company's stock, valued at approximately $3,186,180. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Robert J. Ott sold 2,913 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total transaction of $450,320.67. Following the completion of the transaction, the senior vice president now directly owns 25,504 shares in the company, valued at approximately $3,942,663.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Aaron Kyle Stucki sold 8,750 shares of the company's stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $155.00, for a total value of $1,356,250.00. Following the transaction, the insider now directly owns 20,556 shares in the company, valued at approximately $3,186,180. The disclosure for this sale can be found here. Insiders have sold a total of 76,363 shares of company stock worth $11,791,461 over the last ninety days. Company insiders own 0.86% of the company's stock.

About TE Connectivity

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.