TE Connectivity (NYSE:TEL) Price Target Lowered to $153.00 at Wells Fargo & Company

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

Several other equities analysts have also recently issued reports on TEL. Wolfe Research upgraded shares of TE Connectivity from a peer perform rating to an outperform rating in a research note on Thursday, September 5th. Truist Financial boosted their target price on shares of TE Connectivity from $151.00 to $156.00 and gave the company a hold rating in a research note on Thursday, July 25th. Vertical Research started coverage on shares of TE Connectivity in a research note on Tuesday, July 23rd. They issued a hold rating and a $155.00 target price for the company. Bank of America boosted their price target on shares of TE Connectivity from $165.00 to $170.00 and gave the stock a buy rating in a report on Thursday, July 18th. Finally, HSBC lowered shares of TE Connectivity from a buy rating to a hold rating and set a $162.00 price target for the company. in a report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, TE Connectivity currently has an average rating of Hold and an average target price of $158.73.

TE Connectivity Stock Performance

Shares of NYSE TEL opened at $148.11 on Friday. The company has a current ratio of 1.51, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23. The company has a 50 day simple moving average of $149.59 and a two-hundred day simple moving average of $147.49. TE Connectivity has a 12 month low of $115.00 and a 12 month high of $159.98. The stock has a market cap of $45.36 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 1.98 and a beta of 1.33.

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, beating the consensus estimate of $1.86 by $0.05. TE Connectivity had a net margin of 21.94% and a return on equity of 18.53%. The firm had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the previous year, the business posted $1.77 EPS. The business’s revenue was up .1% compared to the same quarter last year. As a group, analysts predict that TE Connectivity will post 7.57 earnings per share for the current year.

Insider Transactions at TE Connectivity

In other news, CFO Heath A. Mitts sold 59,700 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $154.70, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Heath A. Mitts sold 59,700 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $154.70, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Robert J. Ott sold 2,913 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total transaction of $450,320.67. Following the sale, the senior vice president now directly owns 25,504 shares of the company’s stock, valued at approximately $3,942,663.36. The disclosure for this sale can be found here. Insiders sold 71,363 shares of company stock valued at $11,042,161 over the last 90 days. 0.86% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TE Connectivity

A number of hedge funds have recently modified their holdings of TEL. Salem Investment Counselors Inc. grew its holdings in shares of TE Connectivity by 112.4% in the first quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock valued at $27,000 after purchasing an additional 100 shares during the period. Versant Capital Management Inc grew its holdings in shares of TE Connectivity by 209.8% in the second quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 128 shares during the period. Olistico Wealth LLC purchased a new stake in shares of TE Connectivity in the second quarter valued at about $30,000. Bank & Trust Co purchased a new stake in shares of TE Connectivity in the second quarter valued at about $35,000. Finally, Rise Advisors LLC purchased a new stake in shares of TE Connectivity in the first quarter valued at about $40,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

About TE Connectivity

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.