Wells Fargo & Company Cuts TE Connectivity (NYSE:TEL) Price Target to $150.00

TE Connectivity (NYSE:TEL) had its price objective cut by Wells Fargo & Company from $152.00 to $150.00 in a report issued on Tuesday, Benzinga reports. They currently have an equal weight rating on the electronics maker’s stock.

Other equities research analysts also recently issued reports about the company. The Goldman Sachs Group reaffirmed a buy rating on shares of TE Connectivity in a research report on Monday, April 1st. Jefferies Financial Group started coverage on TE Connectivity in a research report on Tuesday, April 9th. They issued a buy rating and a $180.00 price target on the stock. JPMorgan Chase & Co. reduced their price objective on TE Connectivity from $170.00 to $169.00 and set a neutral rating for the company in a research report on Thursday, April 25th. StockNews.com started coverage on shares of TE Connectivity in a research report on Tuesday. They set a buy rating on the stock. Finally, Robert W. Baird decreased their target price on shares of TE Connectivity from $159.00 to $158.00 and set an outperform rating on the stock in a research report on Thursday, April 25th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, TE Connectivity currently has a consensus rating of Moderate Buy and an average price target of $155.13.

TE Connectivity Price Performance

NYSE TEL opened at $148.71 on Tuesday. The company has a 50 day moving average price of $147.36 and a two-hundred day moving average price of $143.01. TE Connectivity has a 12-month low of $115.00 and a 12-month high of $153.54. The stock has a market capitalization of $45.54 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 2.20 and a beta of 1.35. The company has a quick ratio of 0.92, a current ratio of 1.45 and a debt-to-equity ratio of 0.24.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.03. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the prior year, the company posted $1.65 EPS. The firm’s revenue was down 4.6% on a year-over-year basis. As a group, equities analysts predict that TE Connectivity will post 7.5 earnings per share for the current fiscal year.

Insider Transactions at TE Connectivity

In other TE Connectivity news, Director Mark Trudeau sold 7,044 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $141.49, for a total value of $996,655.56. Following the transaction, the director now owns 5,917 shares of the company’s stock, valued at $837,196.33. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Shadrak W. Kroeger sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $149.86, for a total value of $749,300.00. Following the completion of the transaction, the insider now owns 25,976 shares in the company, valued at approximately $3,892,763.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark Trudeau sold 7,044 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $141.49, for a total value of $996,655.56. Following the completion of the transaction, the director now owns 5,917 shares in the company, valued at $837,196.33. The disclosure for this sale can be found here. 0.86% of the stock is owned by company insiders.

Institutional Investors Weigh In On TE Connectivity

A number of institutional investors and hedge funds have recently made changes to their positions in TEL. HM Payson & Co. lifted its holdings in TE Connectivity by 3.1% in the first quarter. HM Payson & Co. now owns 3,431 shares of the electronics maker’s stock valued at $498,000 after buying an additional 103 shares during the period. Cetera Advisors LLC lifted its stake in shares of TE Connectivity by 116.9% in the 1st quarter. Cetera Advisors LLC now owns 9,693 shares of the electronics maker’s stock valued at $1,408,000 after purchasing an additional 5,224 shares during the period. Cetera Investment Advisers boosted its position in shares of TE Connectivity by 129.2% in the 1st quarter. Cetera Investment Advisers now owns 40,922 shares of the electronics maker’s stock worth $5,944,000 after purchasing an additional 23,068 shares during the last quarter. PGGM Investments grew its stake in shares of TE Connectivity by 0.7% during the first quarter. PGGM Investments now owns 75,733 shares of the electronics maker’s stock worth $10,999,000 after purchasing an additional 550 shares during the period. Finally, Swedbank AB bought a new stake in TE Connectivity in the first quarter valued at about $10,182,000. Institutional investors own 91.43% 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.