TE Connectivity (NYSE:TEL) Receives New Coverage from Analysts at Wells Fargo & Company

Stock analysts at Wells Fargo & Company assumed coverage on shares of TE Connectivity (NYSE:TEL) in a report released on Friday, November 10th, Marketbeat reports. The firm set an “outperform” rating and a $105.00 price target on the electronics maker’s stock. Wells Fargo & Company’s price objective would indicate a potential upside of 11.41% from the stock’s current price.

A number of other research firms have also weighed in on TEL. Stifel Nicolaus reiterated a “buy” rating and set a $98.00 target price on shares of TE Connectivity in a report on Friday, November 3rd. Royal Bank Of Canada dropped their target price on shares of TE Connectivity from $100.00 to $95.00 and set an “outperform” rating for the company in a report on Thursday, November 2nd. SunTrust Banks raised their price objective on shares of TE Connectivity to $90.00 and gave the stock a “hold” rating in a report on Thursday, November 2nd. They noted that the move was a valuation call. Citigroup raised their price objective on shares of TE Connectivity from $92.00 to $106.00 and gave the stock a “buy” rating in a report on Thursday, November 2nd. Finally, Zacks Investment Research upgraded shares of TE Connectivity from a “sell” rating to a “buy” rating and set a $103.00 price objective for the company in a report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $150.00.

TE Connectivity (NYSE:TEL) traded down $1.45 during trading on Friday, hitting $94.25. 1,683,700 shares of the stock were exchanged, compared to its average volume of 1,426,927. The company has a current ratio of 1.54, a quick ratio of 1.07 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $33,150.00, a price-to-earnings ratio of 19.72, a P/E/G ratio of 1.66 and a beta of 1.06. TE Connectivity has a one year low of $66.20 and a one year high of $96.68.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.09. The company had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.28 billion. TE Connectivity had a net margin of 12.84% and a return on equity of 18.97%. TE Connectivity’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.22 earnings per share. sell-side analysts anticipate that TE Connectivity will post 5.27 earnings per share for the current year.

In other news, COO Joseph B. Donahue sold 1,238 shares of TE Connectivity stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $93.23, for a total transaction of $115,418.74. Following the completion of the transaction, the chief operating officer now directly owns 52,134 shares in the company, valued at $4,860,452.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas J. Lynch sold 186,033 shares of TE Connectivity 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 owns 298,851 shares of the company’s stock, valued at $23,695,895.79. The disclosure for this sale can be found here. Insiders sold 762,571 shares of company stock valued at $67,135,357 over the last 90 days. 1.49% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Moors & Cabot Inc. lifted its holdings in shares of TE Connectivity by 0.8% during the second quarter. Moors & Cabot Inc. now owns 2,813 shares of the electronics maker’s stock valued at $222,000 after purchasing an additional 21 shares during the last quarter. Pictet North America Advisors SA increased its position in shares of TE Connectivity by 0.6% during the second quarter. Pictet North America Advisors SA now owns 3,725 shares of the electronics maker’s stock valued at $293,000 after acquiring an additional 24 shares in the last quarter. Trust Co. of Vermont increased its position in shares of TE Connectivity by 2.5% during the second quarter. Trust Co. of Vermont now owns 2,133 shares of the electronics maker’s stock valued at $168,000 after acquiring an additional 52 shares in the last quarter. Financial Architects Inc increased its position in shares of TE Connectivity by 2.0% during the second quarter. Financial Architects Inc now owns 2,885 shares of the electronics maker’s stock valued at $227,000 after acquiring an additional 57 shares in the last quarter. Finally, AMG Funds LLC increased its position in shares of TE Connectivity by 0.3% during the second quarter. AMG Funds LLC now owns 26,142 shares of the electronics maker’s stock valued at $2,057,000 after acquiring an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

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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.

Analyst Recommendations for TE Connectivity (NYSE:TEL)

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