Stifel Nicolaus restated their buy rating on shares of TE Connectivity Ltd. (NYSE:TEL) in a report published on Tuesday, October 17th. The firm currently has a $87.00 target price on the electronics maker’s stock.
TEL has been the topic of a number of other reports. BidaskClub downgraded TE Connectivity from a hold rating to a sell rating in a report on Friday, August 18th. Morgan Stanley restated an overweight rating and issued a $89.00 price objective on shares of TE Connectivity in a report on Wednesday, September 20th. Cowen and Company restated a buy rating and issued a $95.00 price objective on shares of TE Connectivity in a report on Thursday, August 10th. Zacks Investment Research upgraded TE Connectivity from a hold rating to a buy rating and set a $91.00 price objective on the stock in a report on Monday, September 18th. Finally, Royal Bank Of Canada raised their price objective on TE Connectivity from $86.00 to $87.00 and gave the stock an outperform rating in a report on Tuesday, June 27th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $85.00.
TE Connectivity (NYSE TEL) opened at 89.42 on Tuesday. TE Connectivity has a 12-month low of $62.03 and a 12-month high of $89.42. The company has a market capitalization of $31.60 billion, a PE ratio of 18.99 and a beta of 1.08. The stock has a 50 day moving average of $84.30 and a 200-day moving average of $79.76.
TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, July 26th. The electronics maker reported $1.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.07. The firm had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.28 billion. TE Connectivity had a return on equity of 19.76% and a net margin of 12.98%. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.08 earnings per share. Equities analysts expect that TE Connectivity will post $4.75 earnings per share for the current year.
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In other TE Connectivity news, SVP Mario Calastri sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $80.23, for a total transaction of $481,380.00. Following the completion of the sale, the senior vice president now owns 23,078 shares in the company, valued at approximately $1,851,547.94. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Steven T. Merkt sold 126,190 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $80.09, for a total value of $10,106,557.10. Following the sale, the insider now owns 73,815 shares of the company’s stock, valued at approximately $5,911,843.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 693,747 shares of company stock valued at $55,780,069. 1.30% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of TE Connectivity by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 23,312,100 shares of the electronics maker’s stock worth $1,834,196,000 after acquiring an additional 521,884 shares in the last quarter. BlackRock Inc. grew its position in shares of TE Connectivity by 1,777.1% in the 1st quarter. BlackRock Inc. now owns 17,203,935 shares of the electronics maker’s stock worth $1,282,551,000 after acquiring an additional 16,287,414 shares in the last quarter. State Street Corp grew its position in shares of TE Connectivity by 3.6% in the 1st quarter. State Street Corp now owns 13,850,157 shares of the electronics maker’s stock worth $1,032,534,000 after acquiring an additional 486,340 shares in the last quarter. Fiduciary Management Inc. WI grew its position in shares of TE Connectivity by 3.6% in the 1st quarter. Fiduciary Management Inc. WI now owns 9,616,782 shares of the electronics maker’s stock worth $716,931,000 after acquiring an additional 331,080 shares in the last quarter. Finally, FMR LLC grew its position in shares of TE Connectivity by 9.7% in the 2nd quarter. FMR LLC now owns 5,339,755 shares of the electronics maker’s stock worth $420,131,000 after acquiring an additional 472,037 shares in the last quarter. Institutional investors own 90.05% of the company’s stock.
About TE Connectivity
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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