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

TE Connectivity (NYSE:TEL) had its target price reduced by research analysts at Wells Fargo & Company from $152.00 to $150.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the electronics maker’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 1.47% from the company’s current price.

A number of other brokerages have also commented on TEL. StockNews.com started coverage on TE Connectivity in a research report on Tuesday. They issued a “buy” rating on the stock. Robert W. Baird dropped their price target on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. JPMorgan Chase & Co. dropped their price target on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. Finally, Jefferies Financial Group began coverage on TE Connectivity in a research report on Tuesday, April 9th. They issued a “buy” rating and a $180.00 target price on the stock. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $155.13.

TE Connectivity Trading Down 1.1 %

TE Connectivity stock opened at $147.83 on Tuesday. The business has a 50 day moving average price of $147.23 and a two-hundred day moving average price of $142.97. The company has a quick ratio of 0.92, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. The stock has a market cap of $45.27 billion, a price-to-earnings ratio of 13.49, a price-to-earnings-growth ratio of 2.20 and a beta of 1.35. TE Connectivity has a 12 month low of $115.00 and a 12 month high of $153.54.

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

Insider Transactions at TE Connectivity

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its holdings in shares of TE Connectivity by 54.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker’s stock worth $2,265,218,000 after buying an additional 5,526,230 shares in the last quarter. Norges Bank bought a new stake in shares of TE Connectivity in the fourth quarter worth $693,985,000. Massachusetts Financial Services Co. MA grew its stake in shares of TE Connectivity by 2.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,632,809 shares of the electronics maker’s stock worth $650,910,000 after purchasing an additional 111,340 shares during the last quarter. Impax Asset Management Group plc grew its stake in shares of TE Connectivity by 1.4% in the fourth quarter. Impax Asset Management Group plc now owns 3,774,896 shares of the electronics maker’s stock worth $529,798,000 after purchasing an additional 51,866 shares during the last quarter. Finally, Morgan Stanley grew its stake in shares of TE Connectivity by 11.7% in the third quarter. Morgan Stanley now owns 3,738,943 shares of the electronics maker’s stock worth $461,872,000 after purchasing an additional 390,723 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

TE Connectivity Company Profile

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.