The Goldman Sachs Group Trims TE Connectivity (NYSE:TEL) Target Price to $179.00

TE Connectivity (NYSE:TEL) had its target price decreased by The Goldman Sachs Group from $189.00 to $179.00 in a research report report published on Tuesday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the electronics maker’s stock.

TEL has been the subject of a number of other research reports. Robert W. Baird upped their target price on TE Connectivity from $162.00 to $170.00 and gave the company an outperform rating in a report on Thursday, July 25th. Wolfe Research raised shares of TE Connectivity from a peer perform rating to an outperform rating in a research report on Thursday, September 5th. HSBC cut shares of TE Connectivity from a buy rating to a hold rating and set a $162.00 price target on the stock. in a research report on Wednesday, July 24th. Truist Financial lifted their price objective on TE Connectivity from $151.00 to $156.00 and gave the company a hold rating in a research report on Thursday, July 25th. Finally, Wells Fargo & Company lowered their target price on TE Connectivity from $155.00 to $153.00 and set an equal weight rating for the company in a research note on Friday, September 20th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, TE Connectivity has a consensus rating of Hold and an average price target of $160.42.

TE Connectivity Trading Down 2.3 %

Shares of TEL opened at $147.46 on Tuesday. The firm has a fifty day simple moving average of $148.75 and a two-hundred day simple moving average of $147.90. TE Connectivity has a twelve month low of $115.00 and a twelve month high of $159.98. The stock has a market capitalization of $44.82 billion, a P/E ratio of 13.49, a PEG ratio of 2.05 and a beta of 1.33. The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.23.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.05. The company had revenue of $4 billion for 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%. TE Connectivity’s quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the firm earned $1.77 earnings per share. On average, research analysts anticipate that TE Connectivity will post 7.57 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Heath A. Mitts sold 59,700 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $154.70, for a total transaction of $9,235,590.00. Following the transaction, the chief financial officer now directly owns 38,073 shares of the company’s stock, valued at $5,889,893.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other TE Connectivity news, SVP Robert J. Ott sold 2,913 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total transaction of $450,320.67. Following the completion of the sale, the senior vice president now directly owns 25,504 shares in the company, valued at approximately $3,942,663.36. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Heath A. Mitts sold 59,700 shares of the firm’s 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 transaction, the chief financial officer now owns 38,073 shares in the company, valued at $5,889,893.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,363 shares of company stock valued at $11,042,161. Corporate insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Salem Investment Counselors Inc. lifted its stake in shares of TE Connectivity by 112.4% in the 1st quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock worth $27,000 after purchasing an additional 100 shares during the period. Versant Capital Management Inc increased its holdings in TE Connectivity by 209.8% during the second quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock valued at $28,000 after buying an additional 128 shares during the last quarter. Olistico Wealth LLC bought a new position in TE Connectivity in the second quarter worth approximately $30,000. Bank & Trust Co purchased a new position in shares of TE Connectivity during the 2nd quarter worth $35,000. Finally, Rise Advisors LLC bought a new stake in shares of TE Connectivity during the 1st quarter valued at $40,000. 91.43% of the stock is owned by hedge funds and other institutional investors.

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.