TE Connectivity (NYSE:TEL) Price Target Raised to $170.00 at Bank of America

TE Connectivity (NYSE:TEL) had its price objective boosted by Bank of America from $165.00 to $170.00 in a report issued on Thursday, Benzinga reports. Bank of America currently has a buy rating on the electronics maker’s stock.

Several other research firms have also commented on TEL. JPMorgan Chase & Co. decreased their target price on shares of TE Connectivity from $170.00 to $169.00 and set a neutral rating on the stock in a report on Thursday, April 25th. Wells Fargo & Company decreased their price objective on shares of TE Connectivity from $152.00 to $150.00 and set an equal weight rating on the stock in a research note on Tuesday, June 25th. Jefferies Financial Group initiated coverage on TE Connectivity in a research note on Tuesday, April 9th. They set a buy rating and a $180.00 target price for the company. StockNews.com assumed coverage on TE Connectivity in a research note on Thursday, July 11th. They issued a buy rating on the stock. Finally, Robert W. Baird reduced their price objective 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. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $156.78.

TE Connectivity Stock Down 0.4 %

NYSE TEL opened at $156.48 on Thursday. The company has a market cap of $47.92 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 2.32 and a beta of 1.33. TE Connectivity has a 1-year low of $115.00 and a 1-year high of $159.75. The company has a current ratio of 1.45, a quick ratio of 0.92 and a debt-to-equity ratio of 0.24. The company has a 50 day moving average of $150.71 and a 200-day moving average of $144.36.

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

Insiders Place Their Bets

In other news, Director Mark Trudeau sold 7,044 shares of TE Connectivity stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $141.49, for a total transaction of $996,655.56. Following the sale, the director now directly owns 5,917 shares of the company’s stock, valued at $837,196.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Mark Trudeau sold 7,044 shares of the firm’s stock in a transaction 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 owns 5,917 shares of the company’s stock, valued at $837,196.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Aaron Kyle Stucki sold 8,750 shares of TE Connectivity stock in a transaction on Thursday, July 11th. The stock was 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 approximately $3,186,180. The disclosure for this sale can be found here. Insiders sold a total of 20,794 shares of company stock valued at $3,102,206 in the last 90 days. Corporate insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On TE Connectivity

A number of hedge funds have recently made changes to their positions in TEL. JFS Wealth Advisors LLC increased its position in TE Connectivity by 97.8% during the 4th quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock valued at $26,000 after purchasing an additional 91 shares during the period. Salem Investment Counselors Inc. increased its position in shares of TE Connectivity by 112.4% during the first quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock worth $27,000 after buying an additional 100 shares during the period. Versant Capital Management Inc increased its position in shares of TE Connectivity by 209.8% during the second quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock worth $28,000 after buying an additional 128 shares during the period. Bruce G. Allen Investments LLC acquired a new position in TE Connectivity in the fourth quarter valued at $30,000. Finally, Olistico Wealth LLC bought a new stake in TE Connectivity during the second quarter valued at $30,000. 91.43% of the stock is currently owned by 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.