TE Connectivity (NYSE:TEL) PT Lowered to $153.00

TE Connectivity (NYSE:TEL) had its price target reduced by analysts at Wells Fargo & Company from $155.00 to $153.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the electronics maker’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 3.30% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Wolfe Research raised TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. HSBC downgraded TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price objective for the company. in a research report on Wednesday, July 24th. Vertical Research initiated coverage on TE Connectivity in a research report on Tuesday, July 23rd. They set a “hold” rating and a $155.00 target price on the stock. Robert W. Baird upped their price objective on shares of TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Hsbc Global Res raised shares of TE Connectivity to a “hold” rating in a research report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, TE Connectivity has an average rating of “Hold” and a consensus price target of $158.73.

TE Connectivity Stock Performance

TE Connectivity stock opened at $148.11 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.51. The stock has a fifty day moving average of $149.59 and a two-hundred day moving average of $147.45. The company has a market capitalization of $45.36 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 1.98 and a beta of 1.33. TE Connectivity has a fifty-two week low of $115.00 and a fifty-two week high of $159.98.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.05. The company had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.01 billion. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. TE Connectivity’s revenue was up .1% compared to the same quarter last year. During the same quarter last year, the business posted $1.77 earnings per share. On average, analysts anticipate that TE Connectivity will post 7.57 EPS for the current fiscal year.

Insider Activity at TE Connectivity

In other news, insider Aaron Kyle Stucki sold 8,750 shares of the stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $155.00, for a total value of $1,356,250.00. Following the completion of the sale, the insider now owns 20,556 shares in the company, valued at $3,186,180. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Aaron Kyle Stucki sold 8,750 shares of the stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $155.00, for a total value of $1,356,250.00. Following the completion of the sale, the insider now owns 20,556 shares in the company, valued at $3,186,180. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Robert J. Ott sold 2,913 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total value of $450,320.67. Following the completion of the sale, the senior vice president now owns 25,504 shares of the company’s stock, valued at approximately $3,942,663.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,363 shares of company stock worth $11,042,161. 0.86% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TE Connectivity

A number of hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its stake in TE Connectivity by 54.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker’s stock valued at $2,265,218,000 after purchasing an additional 5,526,230 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of TE Connectivity by 26.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock worth $944,791,000 after acquiring an additional 1,304,199 shares in the last quarter. Wellington Management Group LLP grew its position in shares of TE Connectivity by 12.5% in the 4th quarter. Wellington Management Group LLP now owns 3,630,003 shares of the electronics maker’s stock worth $510,015,000 after acquiring an additional 403,750 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of TE Connectivity by 7.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,118,636 shares of the electronics maker’s stock worth $469,113,000 after acquiring an additional 223,842 shares in the last quarter. Finally, Pzena Investment Management LLC grew its position in shares of TE Connectivity by 9.3% in the 1st quarter. Pzena Investment Management LLC now owns 2,798,532 shares of the electronics maker’s stock worth $406,459,000 after acquiring an additional 238,370 shares in the last quarter. Institutional investors and hedge funds 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.