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

TE Connectivity (NYSE:TEL) had its price objective reduced by Wells Fargo & Company from $155.00 to $153.00 in a research report released on Friday morning, Benzinga reports. They currently have an equal weight rating on the electronics maker’s stock.

A number of other equities research analysts have also recently weighed in on TEL. Wolfe Research upgraded shares of TE Connectivity from a peer perform rating to an outperform rating in a report on Thursday, September 5th. StockNews.com assumed coverage on TE Connectivity in a research report on Friday, September 13th. They set a buy rating for the company. Vertical Research started coverage on TE Connectivity in a report on Tuesday, July 23rd. They issued a hold rating and a $155.00 target price on the stock. Bank of America raised their price target on TE Connectivity from $165.00 to $170.00 and gave the company a buy rating in a report on Thursday, July 18th. Finally, Hsbc Global Res upgraded shares of TE Connectivity to a hold rating in a research note 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 MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $158.73.

TE Connectivity Stock Down 0.9 %

Shares of NYSE:TEL 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. TE Connectivity has a 52-week low of $115.00 and a 52-week high of $159.98. The firm has a market capitalization of $45.01 billion, a P/E ratio of 13.55, a P/E/G ratio of 1.98 and a beta of 1.33. The stock has a 50 day moving average price of $149.59 and a 200-day moving average price of $147.40.

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

Insider Transactions at TE Connectivity

In related news, insider Aaron Kyle Stucki sold 8,750 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $155.00, for a total transaction of $1,356,250.00. Following the transaction, the insider now owns 20,556 shares in the company, valued at $3,186,180. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Heath A. Mitts sold 59,700 shares of TE Connectivity stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $154.70, for a total value of $9,235,590.00. Following the completion of the sale, the chief financial officer now owns 38,073 shares of the company’s stock, valued at $5,889,893.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Aaron Kyle Stucki sold 8,750 shares of the stock in a transaction dated 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 completion of 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 sold 71,363 shares of company stock worth $11,042,161 over the last three months. 0.86% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TE Connectivity

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Sanctuary Advisors LLC bought a new stake in TE Connectivity during the second quarter valued at approximately $4,112,000. Cetera Investment Advisers boosted its stake in shares of TE Connectivity by 15.8% during the 2nd quarter. Cetera Investment Advisers now owns 47,403 shares of the electronics maker’s stock worth $7,131,000 after acquiring an additional 6,481 shares during the last quarter. 3Chopt Investment Partners LLC bought a new stake in shares of TE Connectivity during the 2nd quarter valued at $222,000. Point72 Asset Management L.P. increased its stake in shares of TE Connectivity by 238.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 719,354 shares of the electronics maker’s stock worth $108,212,000 after purchasing an additional 506,754 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its holdings in TE Connectivity by 26.6% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 12,235 shares of the electronics maker’s stock worth $1,841,000 after purchasing an additional 2,570 shares during the period. Hedge funds and other institutional investors own 91.43% of the company’s stock.

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.