Analysts at Wells Fargo & Company started coverage on shares of TE Connectivity Ltd. (NYSE:TEL) in a research report issued on Friday, November 10th, Marketbeat reports. The brokerage set an “outperform” rating and a $105.00 price target on the electronics maker’s stock. Wells Fargo & Company’s price target indicates a potential upside of 11.10% from the company’s current price.
TEL has been the topic of a number of other research reports. SunTrust Banks, Inc. upped their target price on shares of TE Connectivity to $90.00 and gave the company a “hold” rating in a research report on Thursday, November 2nd. They noted that the move was a valuation call. Zacks Investment Research raised shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research report on Monday, September 4th. Stifel Nicolaus reissued a “buy” rating and set a $87.00 price target on shares of TE Connectivity in a research report on Tuesday, October 17th. Royal Bank Of Canada reissued a “buy” rating and set a $95.00 price target (up previously from $90.00) on shares of TE Connectivity in a research report on Monday, October 30th. Finally, Morgan Stanley reissued an “overweight” rating and set a $89.00 price target on shares of TE Connectivity in a research report on Wednesday, September 20th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $150.00.
Shares of TE Connectivity (TEL) opened at $94.51 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.54 and a quick ratio of 1.07. TE Connectivity has a 1-year low of $66.20 and a 1-year high of $96.68. The stock has a market cap of $33,739.59, a PE ratio of 19.86, a P/E/G ratio of 1.67 and a beta of 1.06.
TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.09. TE Connectivity had a net margin of 12.84% and a return on equity of 18.97%. The firm had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.28 billion. During the same quarter in the prior year, the firm posted $1.22 earnings per share. TE Connectivity’s quarterly revenue was up 3.7% on a year-over-year basis. research analysts expect that TE Connectivity will post 5.27 EPS for the current fiscal year.
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In other news, insider Thomas J. Lynch sold 186,033 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $79.29, for a total transaction of $14,750,556.57. Following the transaction, the insider now directly owns 298,851 shares in the company, valued at $23,695,895.79. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Thomas J. Lynch sold 130,616 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $83.37, for a total transaction of $10,889,455.92. Following the transaction, the insider now owns 429,499 shares in the company, valued at $35,807,331.63. The disclosure for this sale can be found here. Insiders sold 762,571 shares of company stock worth $67,135,357 over the last quarter. 1.30% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Prudential Financial Inc. lifted its holdings in shares of TE Connectivity by 4.6% during the second quarter. Prudential Financial Inc. now owns 511,865 shares of the electronics maker’s stock worth $40,273,000 after purchasing an additional 22,478 shares during the period. Calamos Advisors LLC lifted its holdings in TE Connectivity by 2.7% in the second quarter. Calamos Advisors LLC now owns 57,157 shares of the electronics maker’s stock valued at $4,497,000 after acquiring an additional 1,512 shares during the period. Swiss National Bank lifted its holdings in TE Connectivity by 3.0% in the second quarter. Swiss National Bank now owns 1,297,509 shares of the electronics maker’s stock valued at $102,088,000 after acquiring an additional 38,400 shares during the period. Vanguard Group Inc. lifted its holdings in TE Connectivity by 2.3% in the second quarter. Vanguard Group Inc. now owns 23,312,100 shares of the electronics maker’s stock valued at $1,834,196,000 after acquiring an additional 521,884 shares during the period. Finally, Atlantic Trust Group LLC lifted its holdings in TE Connectivity by 5.0% in the second quarter. Atlantic Trust Group LLC now owns 177,785 shares of the electronics maker’s stock valued at $13,989,000 after acquiring an additional 8,438 shares during the period. 89.58% of the stock is owned by hedge funds and other institutional investors.
TE Connectivity Company Profile
TE Connectivity Ltd. is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Transportation Solutions segment offers connectivity and sensor technologies.
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